ABM Resources NL (ASX:ABU) Drilling at Kroda Confirms Second Discovery Camp in the Northern Territory
Perth, Sep 27, 2011 AEST (ABN Newswire) - ABM Resources NL (
ASX:ABU) is pleased to announce that the results from the Kroda Gold Project, which is part of the Company's Barrow Creek Regional Project in the Northern Territory, include the following highlights:
- Hole KRRC100013 returned:
57 metres averaging 3.83g/t gold (0.2g/t cut-off) from 10 metres including:
29 metres averaging 6.38gt gold (0.5g/t cut-off) or
12 metres averaging 15.69g/t gold (1.0g/t cut-off).
- Hole KRRC100014 returned:
10 metres averaging 4.97g/t gold (0.2g/t cut-off) from 5 metres including:
6 metres averaging 8.09g/t gold (0.5g/t cut-off).
91 metres averaging 1.44g/t gold (0.2g/t cut-off) including:
33 metres averaging 3.22g/t gold (0.5g/t cut-off) or
24 metres averaging 4.28g/t gold (1.0g/t cut-off).
- Hole KRRC100015 ended in mineralisation with:
28 metres averaging 2.34g/t gold (0.5g/t cut-off) from 19 metres including:
12 metres averaging 4.76g/t gold (1.0g/t cut-off).
- Hole KRRC100004 returned:
20 metres averaging 2.2g/t gold (0.5g/t cut-off) from 35 metres including:
3 metres averaging 11.83g/t gold (1.0g/t cut-off).
Darren Holden, Managing Director said, "The Kroda Gold Project results are a great example of the optionality in ABM's portfolio with quality mineral projects throughout the Northern Territory. Kroda is an extensive regional target located within close proximity to some excellent infrastructure. With these initial results we have identified substantial mineralisation confirming a second discovery camp within ABM's extensive Northern Territory portfolio."
The Kroda Gold Project
The Kroda Gold Project is located 18 kilometres west of the Stuart Highway, 30 kilometres north from the town of Barrow Creek and 200 kilometres south of Tennant Creek. The project consists of 4 individual prospects (Kroda 1 to 4) with a combined anomalous strike length of 14 kilometres. The Project is well serviced with infrastructure and is located on pastoral land close to the Stuart Highway, the Ghan Rail Line and the Northern Territory Gas Pipeline.
ABM's 2011 program at Kroda focused on the Kroda 3 prospect (13 holes) where the mineralised system is defined over 400 metres strike length with a central higher grade core approximately 125 metres in length and 25 to 40 metres in width. Mineralisation is hosted in inferred steeply dipping shoots of quartz veins in layered dolerite and schists and is confirmed from the near surface and is open at depth beneath 150 metres. ABM also drilled two holes (KRRC100008 and KRRC100009) at the Kroda 1 prospect which returned wide low-grade mineralisation.
For the complete ABM Resources announcement inlcuding figures and tables, please view the following link:
http://media.abnnewswire.net/media/en/docs/ASX-ABU-558623.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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