ABM Resources NL (ASX:ABU) Samples Return Assays Up To 20.3% Copper And 271g/t Silver
Perth, May 13, 2010 AEST (ABN Newswire) - ABM Resources NL (
ASX:ABU) is pleased to announce that recent reconnaissance work on the Reward Prospect located proximal to the Stafford Gold Zone, approximately 193 kilometres northeast of Alice Springs, has returned high grade base and precious metal samples.
Reward Prospect
The Reward Prospect is located in the Company's Stafford Gold Zone project area approximately 9 kilometres southeast of the Sabre Prospect. The Reward Prospect is identified by several historic mine workings over a strike length of 120 metres. It is understood that historically high grade copper was extracted from the area for direct shipping for blending with fertilizers; however historically gold and silver was not recovered. Copper and associated gold, silver, lead and zinc mineralisation is hosted in a brecciated shear-zone several metres wide within sediments. Both copper oxide (malachite and azurite) and copper sulphide (chalcocite) minerals can be seen in the samples collected. Other anomalous elements in the samples such as bismuth and lead along with nearby granites indicate a possible intrusive source for the mineralisation.
Pine Hill Prospect
The Pine Hill prospect is located 3.5 kilometres northwest of Reward. The prospect includes a historic mine shaft to approximately 10 metres depth.
Update on Drilling on the 20km long Stafford Gold Zone
ABM's drill program on the Stafford Gold Zone is continuing. The Stafford Gold Zone is a 20 kilometre long gold anomaly where previous explorers have identified considerable near-surface gold mineralisation with the Sabre and Falchion prospects being classed by the Company as early stage discoveries / advanced targets. The Company is drilling several holes to target continuations of mineralisation at depth beneath already drilled oxide / regolith gold zones. Currently four holes have been completed with a 298 metre Reverse Circulation (RC) hole at the Assegai prospect; 2 RC / diamond holes on the Sabre Prospect to 207 and 298 metres depth respectively and 1 RC / diamond hole at the Falchion Prospect to 275 metres. Assays are pending on all holes and the campaign is continuing with a further four RC / diamond holes planned on the Stafford Gold Zone prospects.
For the complete ABM Resources annoucement including tables and figures, please view the following link:
http://www.abnnewswire.net/media/en/docs/62853-ASX-ABU-491100.pdf
About ABM Resources NL
ABM Resources (ASX:ABU) is developing several gold discoveries in the Central Desert region of the Northern Territory of Australia. The Company has a multi-tiered approach to exploration and development with a combination of high-grade production scenarios such as the Old Pirate High-Grade Gold Project, large scale discoveries such as Buccaneer, and regional exploration discoveries such as the Hyperion Gold Project. In addition, ABM is committed to regional exploration programs throughout its extensive holdings including the alliance with Independence Group NL at the regional Lake Mackay Project.
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