Hyperion Gold Project Best Ever Intercept 35m @ 5.43 g/t Gold
Perth, Feb 28, 2012 AEST (ABN Newswire) - ABM Resources NL (
ASX:ABU) is pleased to provide an update on exploration activities in the Northern Territory.
Drilling results from the Hyperion Gold Project:
Reverse Circulation hole HYRC100014 at the Hyperion Central Prospect intersects:
- 35 metres averaging 5.43g/t gold (0.5g/t cut-off) from 36 metres depth including:
- 10 metres averaging 17.27g/t gold (1.0g/t cut-off) and a peak value of:
-- 135g/t gold over 1 metre.
Reverse Circulation hole HYRC100016 at the Hyperion Central Prospect intersects:
- 15 metres averaging 2.06g/t gold (0.5g/t cut-off) including:
-- 10 metres averaging 2.85g/t gold (1.0g/t cut-off).
Reverse Circulation hole HYRC100017 at the Hyperion Central Prospect intersects:
- 12 metres averaging 3.48g/t gold (0.5g/t cut-off) including:
-- 9 metres averaging 4.36g/t gold (1.0g/t cut-off).
Reverse Circulation hole HSRC100006 at the Hyperion South Prospect intersects:
- 26 metres averaging 1.14g/t gold (0.5g/t cut-off) including:
-- 4 metres averaging 2.3g/t gold (1.0g/t cut-off) and
-- 13 metres averaging 1.13g/t gold (1.0g/t cut-off).
Reverse Circulation hole HYRC100018 at the Hyperion West Prospect located 450 metres west of Hyperion Central suggests new discovery intersecting:
- 8 metres averaging 1.25g/t gold (0.5g/t cut-off) including:
-- 4 metres averaging 1.95g/t gold (1.0g/t cut-off).
Further drill results from the 2011 program at Hyperion are pending completion of assays.
Darren Holden, Managing Director of ABM Resources said, "ABM's tiered exploration approach sees the Company working advanced projects such as Old Pirate and Buccaneer along with regional discoveries and grass-roots targets simultaneously. This approach gives the Company excellent optionality across its extensive portfolio. The Hyperion Gold Project is one of the Company's regional discoveries and is located only 18 kilometres from Tanami Gold NL's Groundrush Gold Deposit. We expect that an initial resource will be estimated for the project following receipt of the remaining results from the 2011 drilling program."
Hyperion Gold Project
The Hyperion Gold Project is 100% owned by ABM and is located 18 kilometres north-northeast of the Groundrush Gold Deposit (Tanami Gold NL). The Hyperion Gold Project consists of a composite 2 kilometre by 500 metre gold anomaly defined by over 300 shallow rotary air blast (RAB) holes averaging 54 metres in depth. With geological similarities to the nearby Groundrush Gold Deposit, gold mineralisation at Hyperion is principally hosted in structurally controlled quartz-carbonate veins associated with felsic dykes and dolerite.
The Hyperion Central Prospect has drill-defined mineralisation over a strike length of 600 metres within an anomaly more than 1 kilometre long. Mineralisation extends from surface to a depth of at least 250 metres below surface.
The Hyperion South Prospect has confirmed mineralisation over a strike length of 250 metres within an anomaly 800 metres long. Mineralisation extends from near surface to at least 200 metres depth.
The Hyperion West Prospect is a newly recognised prospect where the only drill hole (HYRC100018) from the 2011 season returned 8 metres averaging 1.25g/t gold from a geological setting similar to the main Hyperion Central Prospect. The Hyperion West Prospect is located approximately 450 metres west of the main Hyperion Central Prospect (Figure 2).
ABM's 2011 drill program at Hyperion consisted of 20 reverse circulation (RC) drill holes for a total of 3,354 metres of drilling for extensional exploration and resource estimation purposes.
Appendices 1 and 2 contain the details of the first batch of results from this drilling (10 holes) with the remaining results expected shortly.
To view the Figures and Appendices mentioned in the ABM Resources announcement, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-ABU-579727.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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