ABM Resources NL (ASX:ABU) Announce Exciting Results from Old Pirate Phase One Bulk Longitudinal Trenching Program
Perth, Oct 13, 2011 AEST (ABN Newswire) - ABM Resources NL (
ASX:ABU) is pleased to announce results from Phase 1 of the Old Pirate Bulk Sampling and Trenching Program, which is part of the Company's Twin Bonanza Gold Camp Project.
- Overall weighted average from 207 samples with a combined strike length of 3 veins = 166 metres averaging 19.17g/t gold.
- Peak assay of 697g/t gold with 61 samples grading greater than 10g/t gold (average 54.8g/t gold) and 6 samples grading greater than 100g/t gold (average 259g/t gold).
- Individual vein-trench results are:
95 metres averaging 27.96g/t gold (open along strike) including:
12 metres averaging 115.10g/t gold
6 metres averaging 37.09 g/t gold
22 metres averaging 29.95g/t gold.
46 metres averaging 10.59g/t gold (open along strike) including:
32 metres averaging 13.74g/t gold.
25 metres averaging 8.50g/t gold including:
6 metres averaging 19.68g/t gold.
- Individual veins exposed range from 10cm to 5 metres in width.
- Phase 2 trenching (440 samples) from other veins are in transit to the laboratory and a further 700 samples to be collected as part of Phase 3.
Darren Holden, Managing Director said, "The average grade of the veins sampled in the Phase 1 bulk trenching at Old Pirate is approximately 2 to 3 times our previous estimates. This sampling constitutes the first phase of the most comprehensive systematic study to date of overall grade of the veins in this high grade system and is designed to be used in the resource estimation work."
Phase 1 Bulk Trenching at Old Pirate
Figure 1 shows the sample location of the Phase 1 bulk longitudinal (strike-length) trenching at Old Pirate. The statistics of all 207 samples are shown in Table 1 below. (See link at the bottom of the release)
About the Old Pirate High-Grade Gold Prospect
The high grade Old Pirate Gold Prospect is located approximately 1800 metres from the 1.67 Moz Buccaneer Porphyry Gold Inferred Resource. Gold at Old Pirate 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, surface mapping and trenching over an area of 600 metres by 250 metres and to a depth of 200 metres within an overall anomalous trend in excess of 3 kilometres. The veins and sediments are folded into a 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. Previously ABM had contracted Dr Charles Butt of the CSIRO in Perth to conduct preliminary Scanning Electron Microscope Analysis work on surface gold samples and Dr Butt concluded that, based on the samples provided, the gold in the veins is not supergene enriched and is hence primary gold in quartz (refer ASX announcement 15/11/2011).
Due to the 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.
Rationale and Sampling Method
ABM has previously drilled several high grade intercepts including 9 metres averaging 100.9 g/t gold and 5 metres averaging 274g/t gold interspersed with generally lower grade intercepts. The gold can be coarse (up to 2 to 3mm grains) at Old Pirate and is hosted within quartz veins. However, the distribution of the gold within these veins is not uniform, and hence drilling will likely under-call the overall grade of the system. Upon advice from external consultants, rigorous and systematic bulk sampling of the quartz along the strike length of veins at Old Pirate was proposed, of which Phase 1 is presented here.
The process for the bulk-trenching program is:
1. Natural outcropping veins are mapped for location and width.
2. The backhoe digger then digs a trench that exposes those parts of the veins that are hidden underneath shallow soil cover to provide a combined map of natural outcrop and trench exposed quartz vein.
3. For each metre of exposed quartz vein (both in natural outcrop and trenched veins) two representative samples of approximately 3 to 4 kg are collected. Quartz is selected systematically so as not to bias individual samples. One sample is sent to the laboratory with the remaining sample retained for future checking.
4. The maximum depth of the trench is 1 metre (due to permit regulations, safety considerations and to minimise environmental impact). If the soil cover is greater than 1 metre then sampling does not take place.
5. Samples are processed by ALS Global in Alice Springs where they are weighed and analysed using regular fire assay. Samples greater than 10g/t are re-assayed using AA25 ore-grade method, and samples >100g/t are re-assayed using AA25 / Over Limit Dilution method.
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 including Caribbean Zone, Cypress Prospect and Old Pirate (trenching and drilling).
For the complete ABM announcement including tables and figures, please refer to the following link:
http://media.abnnewswire.net/media/en/docs/ASX-ABU-561090.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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