High Grade Gold Drill Results at Buccaneer
Perth, Aug 1, 2012 AEST (ABN Newswire) - ABM Resources NL (
ASX:ABU) is pleased to announce further results of this season's extensional drilling at the Company's 2.67 million ounce gold Buccaneer Porphyry Deposit.
Highlights from Buccaneer
- High grade intercepts at the Cypress Zone at the Buccaneer Porphyry Gold Deposit in hole BCRC100101 with:
-- 6 metres averaging 20.37g/t gold (1.1g/t cut-off) within:
-- 294 metres averaging 0.73g/t gold (0.2g/t cut-off).
- Other results include extensions of the Eastern Contact Zone at Buccaneer with:
-- 157 metres averaging 0.45g/t gold (0.2g/t gold) including two zones of:
- 39 metres averaging 0.90g/t gold (0.5g/t cut-off) and
- 22 metres averaging 0.97g/t gold (0.5g/t cut-off).
Darren Holden, Managing Director, said, "The identification of further high grade gold bolsters the economic prospects of the bulk tonnage Buccaneer Gold Deposit. The latest results extend the Cypress Zone and the overall Buccaneer Gold Deposit footprint further along the north western contact.
Mineralisation along the north western contact extends for more than a kilometre from the Caribbean Zone in the south to the Cypress Zone to the north. "
Buccaneer 2012 Programs
The Twin Bonanza Gold Project includes both the Old Pirate High Grade Gold Deposit and the Buccaneer Porphyry Gold Deposit. The 2012 field programs are primarily focused on advancing the high grade Old Pirate Deposit. However, several areas at Buccaneer remain untested where the Company is drilling to infill and extend the deposit. The latest round of results is presented in Appendix 1.
Hole BCRC100101 was drilled to test the Cypress Zone where in 2011 ABM intersected a high grade mineralised structure located close to the western contact of the monzonite porphyry body.
BCRC100101 intersected several zones of mineralisation from a depth of 78 m including the high grade zone of 6 metres averaging 20.37g/t gold from a down hole depth of 187 metres (approximately 172m below surface) (Figure 1 and Figure 2). Mineralised zones at Cypress consist of intense chlorite alteration and quartz veining within the monzonite porphyry.
Other results presented in this release include wide zones of typical Buccaneer type mineralisation extending the Eastern Contact Zone (Figure 1 and Appendix 1).
To view the complete ABM Resources announcement including Tables, Figures and Appendix, please click the link below:
http://media.abnnewswire.net/media/en/docs/ASX-ABU-598919.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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