ABM Resources NL (ASX:ABU) Announce Further Extensional Buccaneer Drill Results
Perth, Aug 1, 2011 AEST (ABN Newswire) - ABM Resources NL (
ASX:ABU) is pleased to announce further drill results from the 1.67 million ounce Buccaneer Porphyry Gold Deposit located on the Company's Twin Bonanza Gold Camp Project with highlights.
- BCRD100002 (a diamond core hole confirming 2010 RC results at the Western Zone) intersected:
(i) Visible coarse gold observed in the diamond core at Buccaneer with an individual 1 metre sample assaying at 53.1g/t gold.
(ii) 427 metres averaging 0.52g/t gold (0.2g/t cut-off) including:
210 metres averaging 0.75g/t gold (0.2g/t cut-off) including multiple higher grade zones
39 metres averaging 2.22g/t gold (0.5g/t cut-off) including: 9 metres averaging 8.54g/t gold (1.1g/t cut-off)
32 metres averaging 1.44g/t gold (0.5g/t cut-off)
35 metres averaging 1.20g/t gold (0.5g/t cut-off).
- BCRC100050 extends Buccaneer to the south east with:
(i) 84 metres averaging 0.45g/t gold (0.2g/t cut-off) including:
25 metres averaging 0.93g/t gold (0.5g/t cut-off)
(ii) 181 metres averaging 0.44g/t gold (0.2g/t cut-off) including:
11 metres averaging @ 2.34g/t gold (0.5g/t cut-off).
Managing Director of ABM Resources, Mr Darren Holden, said "The latest round of drill results continue to extend our 100% owned Buccaneer Porphyry Deposit. BCRD100002, our first diamond core hole, is one of our deepest holes ever and contains substantial mineralisation over a 427 metre length extending mineralisation vertically approximately 130 metres on this section. In addition, we observed for the very first time, high grade visible gold in the core in an individual 1 metre sample which assayed in excess of 50g/t gold. This visible gold is a strong indicator of readily recoverable gold available in this part of the system. Furthermore, the Buccaneer Deposit has been extended further to the south east with the excellent results from BCRC100050."
Diamond Core Hole BCRD100002 - Buccaneer Western Zone
Drill hole BCRD100002 was drilled as a near step-out twin to confirm Buccaneer's western zone mineralisation intersected in hole BCRC100035 in 2011 (refer previous releases) and confirmed mineralisation intersected previously as well as extended mineralisation approximately 130 vertical metres. The twinning of select reverse circulation holes with diamond core drilling was advised by SRK (Australia) Consulting Pty Ltd during their resource estimation work on Buccaneer. The diamond core hole intersected several styles of mineralisation including chlorite-quartz stockwork veins, flat-lying high grade quartz veins and high sulphide heavily altered areas. This hole was also assayed for full multi-element analysis, with those results pending. Mineralisation occurred between 68 metres down hole depth and 495 metres depth. Refer Figure 2 and Figure 3 for cross-section and map view of the drill hole and Appendix 1 for full drill hole details (see link at the bottom of the release).
Hole BCRC100050 - South East Extensions of Buccaneer
Hole BCRC100050 was drilled from east to west to target south east extensions of the 1.67 million ounce Buccaneer Porphyry Gold Deposit. The hole intersected mineralisation from a depth of 84 metres with several higher grade zones as noted in Appendix 1 (see link at the bottom of the release). This mineralisation extends, in part, the overall 0.5g/t cut-off envelope approximately 100 metres further to the south east.
About the Twin Bonanza Gold Camp
The Twin Bonanza Gold Camp is centred 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. In 2010 ABM focused its effort at Twin Bonanza on the Old Pirate Prospect - a 3 kilometre anomaly with multiple high-grade zones in quartz veins hosted in sedimentary rocks and the Buccaneer Porphyry Gold Deposit - an intrusive related bulk tonnage gold deposit where the Company reported a 1.67Moz gold maiden resource in February 2011. For the remainder of 2011 ABM is focusing its effort on Buccaneer extensional targets, Old Pirate (trenching and drilling) and is testing up to 15 of the other targets in the wider Twin Bonanza Gold Camp.
For the complete ABM Resources announcement including figures and Appendix 1, please refer to the following link:
http://media.abnnewswire.net/media/en/docs/ASX-ABU-551736.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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