ABM Resources NL (ASX:ABU) Continues To Expand the Buccaneer Gold Porphyry Prospect
Perth, Sep 22, 2010 AEST (ABN Newswire) - ABM Resources NL (
ASX:ABU) is pleased to announce that following on from last week's announcement, which included drill results of 202 metres grading 1.0g/t gold within 365 metres grading 0.59g/t gold (BCRC100013), it has received the assays for the final hole from Phase 1 drilling at the Buccaneer Gold Porphyry Prospect.
Hole BCRC100016, the final hole from Phase 1 at Buccaneer, returns:
331 metres grading 0.61g/t gold (0.1g/t cut-off) including:
- 136 metres grading 1.12g/t gold (0.3g/t cut-off) or
- 277 metres grading 0.72g/t gold (0.3g/t cut-off) including:
-- 33 metres grading 2.84g/t gold (0.7g/t cut-off) including
-- 24 metres grading 3.65g/t gold (1.0g/t cut-off)
Phase 1 at the 100% ABM owned Buccaneer Gold Porphyry Prospect has involved drilling of 9 deep holes (~300 to 400 metres) to test the extents and grade continuity of the southern part of the Buccaneer Gold Porphyry Prospect. Results have now been received for all nine holes and all holes intersected wide zones of mineralisation of typical bulk tonnage grades and widths.
The Buccaneer Porphyry is a porphyrytic monzonite intrusion (an alkali intrusive rock commonly associated with bulk-tonnage intrusive related gold deposits around the world) that has been mapped using multi-element geochemistry over an area of approximately 3 kilometres by 1.5 kilometres. Previous work has focused on the southern portion covering an area approximately 1 kilometre by 500 metres and representing approximately 15% of the anomalous intrusion. Previous explorers (Newmont Asia Pacific) drilled the southern portion with holes intersecting mineralisation to approximately 100 metres vertical depth and generally ending in mineralisation and ABM has initially targeted the same area to confirm mineralisation and to extend the vertical and lateral extents.
The Buccaneer Porphyry Prospect is a companion project to the near-by Old Pirate High Grade Prospect where the Company recently reported results including 5 metres grading 274g/t gold and 35 metres grading 6.35g/t gold.
Phase 2 at Old Pirate and Buccaneer
Phase 2 at the Old Pirate High Grade Gold Prospect is now complete and assays are awaited on a total of 11 holes. Phase 2 at the Buccaneer Porphyry Gold Prospect is now underway and 5 out of 11 holes are complete with assays pending. ABM Resources intends to announce the results of Phase 2 at both prospects over the coming weeks.
About the Twin Bonanza Project
The Buccaneer Gold Porphyry Prospect is just one of seven targets which make up the Twin Bonanza Project. Twin Bonanza is located approximately 22 kilometres south of the Tanami Road and 14 kilometres east of the Western Australia - Northern Territory border. The Project spans the highly prospective "Trans Tanami Structure" - an inferred regional / tectonic geological feature which hosts numerous gold deposits including Newmont's multi-million ounce Callie Gold Mine. The Twin Bonanza Project has overall gold anomalism spanning an area of approximately 100 square kilometres. ABM is focusing its effort at Twin Bonanza on the high grade Old Pirate Prospect - a 3 kilometre anomaly with multiple high-grade gold zones in quartz veins hosted in sedimentary rocks - and the Buccaneer Gold Porphyry Prospect noted in this release. The two prospects are only 1.8 kilometres apart and ABM is aiming to complete an initial resource for both prospects by the end of the year or early 2011.
For the complete ABM resouces announcement including figures and tables, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/63766-ASX-ABU-506222.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.
| ||
|
