ABM Resources NL (ASX:ABU) Announce Further High Grade Gold Results for Old Pirate Northern Extensions
Perth, Sep 7, 2011 AEST (ABN Newswire) - ABM Resources NL (
ASX:ABU) is pleased to announce further drill results from the Company's Twin Bonanza Gold Camp Project.
- New zone identified in OPRC100021 with:
5 metres averaging 13.34g/t gold including: 3 metres averaging 21.85g/t gold.
- Also in OPRC100021 previously reported high-grade zone (31/8/2011) is widened with further results increasing overall intercept to:
9 metres averaging 100.9g/t gold including the previously reported: 2 metres averaging 413.5g/t gold.
Darren Holden, Managing Director said, "Further results once again emphasise that Old Pirate is a series of multiple lodes with some very high grade gold distributed throughout the system. These latest results include 5 metres averaging 13.34g/t gold which are projected to possibly link through to a 95.5g/t gold rock chip sample collected at the surface and have also increased the width of the mineralised high grade zone recently reported. The newly recognised mineralisation at the Old Pirate Northern Extensions is open both along strike and down dip."
Old Pirate High Grade Gold Prospect & Northern Extensions
Hole OPRC100021 is located approximately 150 metres farther north of OPRC100005 which in 2010 intersected 5 metres averaging 274g/t gold.
On 31/08/2011 ABM reported partial results from high grade samples from this drill hole. These results have been expanded with the further results noted here as well as new zone identified further up the hole.
The Old Pirate Prospect is noted for its coarse grained particulate gold and the Company uses a combination of standard fire-assay and screen-fire assay to test for this gold. This gold is distributed throughout a series of quartz veins within interlayered sandstone and shale sedimentary rocks. The veins range from centimetres to several metres wide and are defined by drilling and surface mapping over an area of 600 metres by 250 metres. The veins and sediments are folded into plunging anticline (an arch shaped geological structure). In addition a diorite intrusive rock has been emplaced within the sedimentary rocks and is thought to have been a focus of the mineralising fluids. Due to the somewhat uneven distribution of the gold within the quartz veins, ABM geoscientists focus on the location and distribution of the actual veins as well as the gold within the veins. In such systems it is typical for even lower grades veins to be an indication of the presence of a mineralised structure which will most likely, average to much higher grades overall.
The Old Pirate Prospect sits within a 3 kilometre long regolith geochemistry anomaly. ABM is testing various parts of the 3 kilometre Old Pirate trend this year.
Also noted in this release are the results from OPRC100022 and OPRC1000023 which both intersected gold bearing quartz veins. All results are to be considered preliminary as specific samples are being returned for screen fire assay to test for coarse particulate gold.
Other Results
One hole each drilled into the three grass-roots targets (Hook, Shiver and Pearl) located between 3 and 5 kilometres west of the Buccaneer Deposit at Twin Bonanza all intersected low but anomalous levels of gold (2 to 100ppb). Additionally, the holes intersected widespread iron rich sediments which are inferred to be the possible equivalent to rocks of Dead Bullock Formation - the principal stratigraphic host of Newmont's multi-million ounce Callie Gold Mine located also within the Tanami region. As a result of this observation further geological investigations are underway to produce follow up drilltargets.
OPRC100020 was drilled to test a conceptual fault intersection 200 metres south of the Old Pirate South Prospect and did not intersect significant mineralisation.
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, please refer to the following link:
http://media.abnnewswire.net/media/en/docs/ASX-ABU-556187.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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