ABM Resources NL (ASX:ABU) Managing Director Darren Holden Speaks On The Expansion Intent Of Mineralisation at The Buccaneer Porphyry Gold Prospect
Perth, Aug 20, 2010 (ABN Newswire) - FINANCE AUDIO: ABM Resources NL (
ASX:ABU) provides the opportunity to listen to an audio broadcast with Darren Holden, Managing Director in a presentation titled "ABM Resources expands extent of mineralisation at Buccaneer - Darren Holden, Managing Director".
"ABM Resources More Than Doubles The Vertical Extent of Gold Mineralisation at The Buccaneer Porphyry Prospect at Twin Bonanza Project"
August 19, 2010: ABM Resources NL ("ABM" or "The Company") is pleased to announce that it has received and compiled the gold results of the first five deep RC drill holes at the Buccaneer Porphyry Prospect located on the Company's Twin Bonanza Project in the Northern Territory of Australia.
Darren Holden, Managing Director of ABM said, "These are very positive results from our first phase at Buccaneer. On this prospect we are targeting wide intercepts on the order of 0.5g/t to 1.5g/t gold to build a bulk tonnage resource analogous to global Tier One projects such as Kinross Gold's highly profitable Fort Knox Gold Mine (~6Moz @ 0.5g/t Au) in Alaska. The first phase results from Buccaneer have more than doubled the previously drilled vertical extents of the system and our continued analysis of these results and previous explorer's work has extended the system considerably."
Phase 1 at the 100% ABM owned Buccaneer Porphyry Prospect has involved drilling of 9 deep holes (~300 to 400 metres) to test the extents and grade continuity of the central part of the Buccaneer Porphyry Prospect. Results have been received for the first five holes where all holes intersected wide zones of mineralisation of typical bulk tonnage grades. Assays are pending on the remaining 4 holes and will be released once received and compiled. The main outcomes from the first five holes (BCRC100007 to 100011) reported here are as follows:
- They confirm that Buccaneer is a large mineralised system, extending to 300 to 350 metres depth on all of the sections drilled to date by ABM and illustrated in this release.
- ABM's strategy of drilling substantially deeper than previous explorers has been validated by the discovery of wide (10 - 50 metre), higher grade intersections within a broad mineralised envelope below the depth of any previous drilling.
- It is also clear, however, that the controls on the distribution and size of the higher grade sections throughout the mineralised system are complex, and that understanding those controls is the key to unlocking value. We plan to return to Buccaneer for a second phase of drilling in the coming months, following analysis and interpretation of the chemical, mineralogical and structural signature of the higher grade sections.
For a complete copy of the ASX Announcement made on the 19th August 2010, please refer to the following link below:
http://www.abnnewswire.net/media/en/docs/63552-ASX-ABU-502132.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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