ABM Resources NL (ASX:ABU) Announces Twin Bonanza Gold Camp Drill Results from the Cypress and Caribbean Zones
Perth, Jan 18, 2012 AEST (ABN Newswire) - ABM Resources NL (
ASX:ABU) is pleased to present drill results from the Company's recent drilling at the Twin Bonanza Gold Camp Project which focused on the Caribbean and Cypress Zones along the western margin of the Buccaneer Porphyry body.
- Drill results at the Cypress Zone include:
- Reverse Circulation Hole BCRC100074 with results:
87 metres averaging 1.13g/t gold (0.2g/t cut-off) including:
29 metres averaging 2.45g/t gold (0.5g/t cut-off) and
8 metres averaging 7.43g/t gold (1.1g/t cut-off).
- Drill results at the Caribbean Zone include:
- Diamond drill hole BCRD100006 with results:
22 metres averaging 3.95g/t gold (0.2g/t cut-off) including:
12 metres averaging 5.98g/t gold (1.1g/t cut-off).
Darren Holden, Managing Director of ABM Resources said, "The latest results from the Caribbean and Cypress zones further define mineralisation along the Western Contact of the Buccaneer Porphyry. Particularly exciting are the Cypress results where hole BCRC100074 followed up on the Cypress discovery hole (7 metres averaging 20.13g/t gold) and intersected a very wide zone of mineralisation of 87 metres averaging 1.13g/t gold, comparable in width and grade to the main Buccaneer resource area, as well as high grade gold with assays up to 23.7g/t gold."
Mineralisation - Caribbean Zone to Cypress Zone
Recent drilling, as presented in Figures 1, 2, and 3 and detailed in Appendix 1 (see link at the bottom of the release), as well as previously reported results suggest the presence of mineralisation in several structurally controlled zones located sub-parallel to the western margin of the Buccaneer Porphyry intrusion. The mineralised zones vary from a few metres of gold-anomalous material to strongly mineralised zones greater than 80 metres in width. These zones of mineralisation are located to the north west of the Company's 1.67 million ounce Buccaneer Porphyry Deposit and approximately 4 kilometres from the Old Pirate High Grade Gold Prospect. Ten of the twelve holes along the contact reported in this release have intersected mineralised zones as noted in Figure 1 and Appendix 1 (see link at the bottom of the release).
The Caribbean Zone at the south end of the trend consists of sheared and faulted porphyry with high sulphide content (up to 15%) along with quartz and chlorite veins. The mineralised zone is inferred to dip steeply to the east. The Cypress Zone to the north of Caribbean shows strong gold mineralisation predominantly hosted in quartz chlorite veins with minor sulphide content in the porphyry. In hole BCRC100074 the laboratory made special note of coarse particulate gold in one sample which graded 19.3g/t gold on first assay and lower grades on second split sample (the variation is attributable to coarse particulate gold). The zone is open to the north and south as well as up and down dip. Further drill hole assay results are pending from this area.
Additionally to mineralisation hosted within the structurally controlled zone along the porphyry contact, a further zone of mineralisation has been intersected within the lower oxide zone in the highly magnetic sediments immediately to the west of the contact and as previously reported on 28/11/2011.
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. In 2011 ABM has reported several extensional discoveries around Buccaneer including the Cypress, Caribbean, Empress and Eastern Contact Zones as well as high grade gold in drilling and trenching at Old Pirate. The Company aims to complete a revised resource in the first quarter of 2012.
For the complete ABM Resources announcement including figures and tables, please view the following link:
http://media.abnnewswire.net/media/en/docs/71312-ASX-ABU-574344.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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