Quarterly Activities and Cashflow Report
Perth, July 16, 2013 AEST (ABN Newswire) - ABM Resources NL (
ASX:ABU) announce the Quarterly Activities and Cashflow Report for the period with the following highlights.
TRIAL MINING & PROCESSING AT THE OLD PIRATE HIGH-GRADE GOLD DEPOSIT
- Camp Infrastructure installed with accommodation units and site offices fully operational.
- Arrival and installation of first components of the Pilot Processing Facility.
- Off-site construction of modular pilot plant mostly complete and being consigned for July installation and commissioning.
- Site Works are progressing and excavation of ore commenced at Golden Hind with main Old Pirate area excavation to follow.
EXPLORATION
- Exploration at the Bermuda Zone exposes multiple quartz veins over an area 50m x 50m with rock sample assays up to 34.9g/t gold.
- Exploration at the Bermuda South Prospect delivers surface sampling results including 21.6g/t gold and 21g/t gold during the Quarter. Subsequent to the end of the Quarter, systematic longitudinal quartz vein sampling reveals mineralisation over a strike length of 35 metres with a peak value of 45.7g/t gold from systematic surface sampling.
- Exploration at the Bandit South Area delivers new rock chip sample results of up to 108g/t gold and surface assay results including 66.2g/t gold and 62.9g/t gold with an average grade of 25.6g/t gold.
CORPORATE
- $8.3M Cash Position at 30 June 2013 with no debt and fully funded through Trial Mining phase.
- Non-Executive Directors purchased shares.
- Progress continues on various aspects of the Mineral Lease Application.
To view the complete quarterly report with images and charts, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ABU-641901.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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