ABM Resources NL (ASX:ABU) Drilling Commences at Hyperion Gold Project and Exploration Update from Twin Bonanza
Perth, Nov 9, 2011 AEST (ABN Newswire) - ABM Resources NL (
ASX:ABU) is pleased to provide an update on exploration activities in the Northern Territory.
Drilling commences at the Hyperion Gold Project:
- 20 reverse circulation (RC) holes for 3,500 metres planned.
- Targeting both infill resource drilling and extensional drilling at the Hyperion Central and Hyperion South Prospects.
- Following up on previous results at Hyperion Central which included:
60 metres averaging 2.57g/t gold including:
18 metres averaging 3.18g/t gold and
21 metres averaging 4.27g/t gold.
- Following up on previous results at Hyperion South which included:
28 metres averaging 5.07g/t gold including:
13 metres averaging 10.41g/t gold.
Update from Twin Bonanza Gold Camp Project:
- >30,000 metres of drilling complete across all targets during 2011.
- 9,358 metres of drilling (32 holes) from Buccaneer and extensions (including Cypress to Caribbean Zone extensions) pending assay.
- 1,928 metres of drilling (11 holes) pending assay at Old Pirate High Grade Prospect.
- 1,125 metres of trench / vein samples collected at Old Pirate High Grade Gold Prospect with 918 samples pending assay.
Update from Lake Mackay:
- Assays pending from 4,279 metres (16 RC holes) from 4 targets.
Darren Holden, Managing Director of ABM Resources said, "The drilling and trench sampling across our multiple discoveries has progressed at great pace this year. With up to 3 rigs working at any given time we are well ahead of the assay results. Back-logs at the laboratory are being processed and a cumulative ~20,000 samples are pending assay and interpretation over the coming weeks and months. The aim of all current drill programs is to add ounces to our resource inventory from the multiple discoveries made 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 in 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 quartzcarbonate veins associated with granite dykes and dolerite within a sedimentary rock sequence.
The 2011 drill program at Hyperion is focusing on extensional and infill resource drilling at the Hyperion South and Hyperion Central deposits. Previous drilling has indicated ore-grade gold mineralisation (refer to releases 09/03/2010, 04/11/2010 and 11/01/2011).
Hyperion Central has confirmed mineralisation over a strike length of 400 metres within an anomaly more than 1 kilometre long. Mineralisation extends from surface to a depth of at least 250 metres below surface.
Hyperion South has confirmed mineralisation over a strike length of 200 metres within an anomaly 800 metres long. Mineralisation extends from near surface to at least 200 metres depth.
A total of 3,500 metres of drilling is planned for Hyperion Central and Hyperion South in the coming weeks.
Update from Twin Bonanza
Exploration work at Twin Bonanza is on-going. The Company has currently more than 12,400 samples pending assay (drill and trenching). The pending drilling results are primarily from follow up work on the Caribbean Zone and Cypress Zone discoveries which include an attempt to link the two mineralized zones, the Buccaneer southeastern extensions and the Old Pirate High Grade Gold Prospect.
In the case of Old Pirate, all drill samples greater than 0.5g/t gold are being re-assayed using screen fire methods to detect particulate and coarse gold.
Update from Lake Mackay
Lake Mackay drilling is complete with all holes pending assay and compilation.
For the complete ABM Resources announcement including figures, please view the following link:
http://media.abnnewswire.net/media/en/docs/ASX-ABU-565922.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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