ABM Resources NL (ASX:ABU) Announce Promising Initial Drill Results from the Hyperion Gold Project
Perth, Jan 11, 2011 AEST (ABN Newswire) - ABM Resources NL (
ASX:ABU) is pleased to announce it has received and compiled results from reconnaissance drilling of 13 holes into two targets at the 100% owned Hyperion Gold Project located 18 kilometres north north-east of the Groundrush Gold Mine in the Northern Territory.
Highlights include:
From Hyperion South
- 22 metres grading 2.57g/t gold (0.7g/t cut-off) including
- 11 metres grading 4.29g/t gold (1.0g/t cut-off)
From Hyperion Central
- 8 metres grading 2.86g/t gold (1.0g/t cut-off)
- 5 metres grading 3.65g/t gold (1.0g/t cut-off)
- 7 metres grading 2.26g/t gold (1.0g/t cut-off)
Overall
- 13 out of 14 holes intersected mineralisation
- >2 kilometres strike length of anomalism at Hyperion
- Extensions to Hyperion Central and South and a further 3 prospects to be tested at Hyperion in 2011
Darren Holden, Managing Director of ABM Resources said, "At Hyperion, ABM targeted fresh-rock extensions beneath the oxide gold zone at both the Hyperion Central and Hyperion South prospects. Encouragingly these results show considerable mineralised widths beneath the oxide zone and provide further targets down plunge and along strike at Hyperion. In addition to Hyperion Central and South, the Hyperion Project has another 3 prospects and more than 2 kilometres of anomalous strike length requiring further work this year."
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 by previous explorers. Gold mineralisation at Hyperion is principally hosted in structurally controlled quartz-carbonate veins associated with granite dykes hosted within a basalt / sedimentary rock sequence.
Five individual prospects have been identified within the Hyperion Project area - Hyperion Central, Hyperion West, Hyperion South, Stony Ridge and Jasper Hill.
In late 2010, ABM drilled a total of 13 holes into the Hyperion Central and Hyperion South prospects. In addition the Company drilled 1 hole into the Brokenwood Prospect located 6 kilometres to the south of Hyperion with minor mineralisation intersected at Brokenwood.
ABM is currently assessing the results of the Hyperion Project for further exploration targeting and possible resource estimation in the near-future.
For the complete ABM announcement including figures and tables, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/64961-ASX-ABU-524082.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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