Announces Key Step Towards Mining with the Appointment of a Chief Operating Officer
Perth, Oct 22, 2012 AEST (ABN Newswire) - ABM Resources NL (
ASX:ABU) is pleased to announce that the Company has appointed Mr Brad Valiukas as Chief Operating Officer to lead the Company through mining studies and ultimately into the construction of a mining operation.
Mr Brad Valiukas is a Mining Engineer with over 16 years management and technical experience in the Mining Sector. Mr Valiukas has previously held roles of Chief Operating Officer at Focus Minerals Ltd, Deputy Chief Mining Engineer at Mincor Resources and has worked in both open pit and underground mining environments, and is an expert in narrow vein mining.
Prior to the previously mentioned roles Mr Valiukas was a Mining Engineer Consultant with RSG Global and has held multiple Mine Manager and Mining Engineer positions, including for WMC Ltd, Homestake Mining and mining contractors. Mr Valiukas holds a Bachelor of Engineer (Mining) from the University of New South Wales and multiple industry based accreditations and is also currently completing a Masters in Mineral Economics and Masters in Business Administration at Curtin University.
Mr Valiukas will commence with the Company on a part-time basis, with the intention of moving into a full time role as the Company progresses requisite economic assessments, trial mining and permitting at the Old Pirate and Golden Hind high grade gold discoveries in the Northern Territory.
Darren Holden, Managing Director of ABM Resources said, "We are very pleased to have attracted such a strong and well-regarded professional to the Company. Brad's experience and enthusiasm will be key drivers as the Company progresses from successful explorer through to mining."
Brad Valiukas, newly appointed COO of ABM Resources said, "ABM holds what is almost a unique opportunity in modern day mining in Australia. A high grade gold deposit, at surface, with no old workings or legacy issues gives a Mining Engineer such as myself a blank canvas to build a modern 21st century operation using best practice for efficiency, safety and environment. I look forward to working with ABM Resources to achieve its goals."
Pathways to Development
The Old Pirate High Grade Gold Deposit has a current resource estimation of 427,400 ounces of gold at a grade of 7.95g/t (top cut) or 565,000 ounces of gold at a grade of 10.50g/t gold (uncut) (refer Appendix 1). The Company has recently announced several extensions to veins outside of the existing resource as well as the new high grade gold discovery at the Golden Hind Prospect with recently reported drill results including 15 metres averaging 118g/t gold (refer release 02/10/2012). The Old Pirate and Golden Hind Deposits consist of multiple high grade quartz veins which extend from surface to depths of over 200 metres and remain open in several directions. Gold is coarse which results in a statistical nugget effect, however, recent metallurgical results indicate that gold readily liberates from the quartz vein material with over 97% of gold recovered using simple gravity extraction methods (refer release 05/09/2012).
It is the intention of the Company to build a mine using a staged and risk managed process. This involves initial trial mining (bulk sampling) to reconcile metallurgical recoveries, mining parameters and grades. A permit application has been lodged for this trial mining (bulk sampling) phase under the terms of the current Exploration Licence. A Mineral Lease is likely to be applied for following completion of the requisite mining studies.
Exploration will continue during development and trial mining activity with the Company focussed on continuing to expand the Old Pirate High Grade Gold Deposit as well as advancing other deposits and targets throughout the Central Desert of the Northern Territory of Australia.
View tables and charts at:
http://media.abnnewswire.net/media/en/docs/ASX-ABU-609171.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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