ABM Resources NL (ASX:ABU) Adds Second Drill Rig To Northern Territory Exploration Programs
Perth, Nov 4, 2010 AEST (ABN Newswire) - ABM Resources NL (
ASX:ABU) is pleased to announce a second drill rig has been added to gold exploration and resource definition programs in the Northern Territory. The new rig is a deep penetrating Reverse Circulation (RC) rig contracted from Top Drill Pty Ltd. This new rig has commenced drilling at the Hyperion Gold Project where between 10 and 14 holes for approximately 2500 metres of drilling are planned. This drilling focuses on infill and extensional exploration where previous historic results, announced on 9th March 2010, defined an area anomalous in gold covering 2 kilometres by 500 metres. Drilling is also ongoing at the Twin Bonanza Project including the Buccaneer Porphyry Gold Prospect where the remaining 5 holes of Phase 2 have been completed and are being transported to the laboratory for assay and Phase 3 drilling is about to commence. In addition, screen fire assay analysis from 11 holes at the Old Pirate High Grade Gold Prospect is underway with results expected shortly.
Darren Holden, Managing Director said, "The addition of the second rig allows us to ramp up exploration.The Hyperion Gold Project is a highly ranked gold target that warrants considerable further work. This rig allows us to test Hyperion at the same time as continuing drilling at the Twin Bonanza Project including the Buccaneer Porphyry Gold Target and the Old Pirate High Grade Gold Prospect. We look forward to announcing all results from active programs as soon as they are available and compiled."
Previously announced historic results from the Hyperion Gold Project include:
- 60m @ 2.57g/t gold (at 0.3g/t cut-off) ending in mineralisation including
16m @ 3.51g/t gold (at 1.0g/t cut-off)
21m @ 4.57g/t gold (at 1.0g/t cut-off)
- 28m @ 5.07g/t gold (at 0.3g/t cut-off) including
13m @ 10.41g/t gold (at 1.0g/t cut-off)
- 51m @ 1.92g/t gold (at 0.3g/t cut-off) including
29m @ 3.18g/t gold (at 1.0g/t cut-off)
- 35m @ 2.75g/t gold (at 0.3g/t cut-off) including
21m @ 4.07g/t gold (at 1.0g/t)
For further details please refer to press release dated March 9th, 2010.
Hyperion Gold Project
The Hyperion Gold Project is 100% owned by ABM and is located 18 kilometres north-northeast of the Groundrush Mine. The project consists of a 2 kilometre by 500 metre gold anomaly defined by over 300 shallow rotary air blast (RAB) holes averaging 54 metres depth. In addition a further 85 RC holes and 4 diamond holes have been drilled to an average depth of 125 metres and a maximum depth of 198 metres. Many of the RC and diamond holes intersected gold bearing quartz veins hosted by sediments.
Five individual prospects have been identified within the Hyperion Project area - Hyperion Central, Hyperion West, Hyperion South, Stony Ridge and Jasper Hill. The Hyperion Central Prospect is 500 metres long with wide drilled mineralised intercepts up to 60 metres wide down to 100 metres below surface and open down plunge.
For the complete ABM announcement including figures, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/64097-ASX-ABU-513917.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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