ABM Resources NL (ASX:ABU) Impressive Drill Results from Buccaneer Porphyry
Perth, Jan 19, 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 extensions of the Buccaneer Porphyry Gold Deposit.
Drill results at the main Buccaneer Porphyry Deposit include:
Diamond core hole with RC pre-collar BCRD100005 testing the south western margin of the Buccaneer Porphyry Deposit returned:
- 435 metres averaging 0.69g/t gold (0.2g/t cut-off*) ending in mineralisation or:
- 203 metres averaging 1.07g/t gold (0.2g/t cut-off*) including:
- 41 metres averaging 3.54g/t gold (0.5g/t cut-off) including:
- 6 metres averaging 19.84g/t gold (1.1g/t cut-off).
Diamond core hole with RC pre-collar BCRD100004 returned:
- 174 metres averaging 0.97g/t gold (0.2g/t cut-off) including:
- 32 metres averaging 1.19g/t gold (0.5g/t cut-off) and
- 31 metres averaging 3.37g/t gold (0.5g/t cut-off) including:
- 19 metres averaging 5.08g/t gold (1.1g/t cut-off).
Darren Holden, Managing Director of ABM Resources said, "The latest extensional results from the 1.67million ounce Buccaneer Porphyry Deposit continue to impress. Hole BCRD100005 was designed to test mineralisation associated with the south western contact of the porphyry body and returned some of the best drill intersections reported so far from this large bulk tonnage system."
Drill hole BCRD100005
Drill hole BCRD100005 is a 464 metre drill hole drilled from east to west and designed to test mineralisation near the south western contact of the Buccaneer Porphyry system. The drill hole intersected widespread mineralisation throughout most of the hole with an intersection of 435 metres averaging 0.69g/t gold starting at 26 metres down hole and includes higher grade intervals of 41 metres averaging 3.54g/t gold and 6 metres averaging 19.84g/t gold (refer Appendix 1 for further details). Mineralisation is typical Buccaneer Porphyry style with quartz-chlorite stockwork veins and sericite-chlorite alteration. The lower parts of the hole exhibit high sulphide content with observed chalcopyrite (a copper sulphide mineral), and multi-element assays to test for base metals are pending for this hole. The last few metres of the hole contain strong indications of mineralisation and the hole is considered to have ended in mineralisation.
Drill hole BCRD100004
Drill hole BCRD100004 is a deep hole (802m depth) drilled to test through the Western Zone (an inferred steeply dipping fault / fracture zone of generally higher grade mineralisation) of the Buccaneer Porphyry and to test a conceptual target at depth. The upper parts of the hole exhibited strong mineralisation through the Western Zone with results of 174 metres averaging 0.97g/t gold including 19 metres averaging 5.08g/t gold. The bottom section of the hole was drilled to test for repeats of the main ore zone at depth, remained in porphyry and intersected generally lower grade to anomalous gold. In selected sections, abundant sulphide minerals were observed and the multi-element assays are still pending.
Other results presented - BCRD100003, BCRC100088, BCRC100089 In addition to the two deep holes noted above, this release also presents diamond core hole with RC pre-collar BCRD100003 as well as two RC holes BCRC100088 and BCRC100089.
BCRD100003 targeted a zone of the main Buccaneer Porphyry deposit not previously tested and returned 146 metres averaging 0.35g/t gold and included 10 metres averaging 2.14g/t gold.
Hole BCRC100088 tested the south eastern contact of the Buccaneer Porphyry and intersected 8 metres averaging 1.00g/t gold within 16 metres averaging 0.61g/t gold as well as a second lower grade intersection of 50 metres averaging 0.21g/t gold.
Hole BCRC100089 also tested the south eastern contact of the Buccaneer Porphyry and intersected 60 metres averaging 0.34g/t gold including 2 metres averaging 3.64g/t gold.
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 announcement including figures and tables, please view:
http://media.abnnewswire.net/media/en/docs/ASX-ABU-574508.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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