Hyperion Drill Results with 21 metres at 4.42g/t Gold and New Discovery at Hyperion East
Perth, Aug 26, 2015 AEST (ABN Newswire) - ABM Resources NL (
ASX:ABU) is pleased to provide an update on exploration at the Hyperion Gold Project located in the Northern Territory, Australia.
Hyperion Gold Project Highlights
- Located 17 kilometres northeast of Tanami Gold / Northern Star's Groundrush Gold Mine.
- Step out drilling along strike from Hyperion Central adds new discovery at Hyperion East:
* 21 metres averaging 2.84g/t gold 300 metres along strike from Hyperion Central zone (13 metres below surface) including:
** 9m averaging 5.77g/t gold
* 12 metres averaging 3.43g/t gold also 300 metres along strike (47 metres below surface with hole ending in mineralisation)
* 12 metres averaging 3.03g/t gold 600 metres along strike (26 metres below surface) including:
** 6 metres averaging 4.64g/t gold
- Main Hyperion Central zone infill drill results include:
* 25m averaging 3.83g/t gold (48 metres below surface) including:
** 21 metres averaging 4.42g/t gold
* 26 metres averaging 2.33g/t gold (44 metres below surface) including:
** 7m averaging 4.01g/t gold and
** 1m averaging 24.3g/t gold
* 25 metres averaging 1.51g/t gold (23 metres below surface) including:
** 14 metres averaging 2.33g/t gold
- Planning next round of drilling to update resource and follow up new discoveries / extensions.
All holes drilled from south to north on 60 degree angle intersecting a structure interpreted to dip to the south by 60 to 80 degrees. Hence true width is estimated to be 70 to 80% of intersected width.
Darren Holden, Managing Director of ABM said, "The Hyperion Gold Project has returned some excellent results in this latest round of drilling. Of particular significance are the large step outs with the new discovery at Hyperion East which we look forward to following up shortly."
Hyperion Gold Project
The Hyperion Gold Project has a current Inferred Resource estimation of 2.98 million tonnes at an average grade of 2.11g/t gold for 202,200 ounces. The project is located in the northern Tanami approximately 17 kilometres from the Groundrush Gold Mine (Tanami Gold NL with Northern Star Resources Ltd). Geology at Hyperion consists of steeply dipping sedimentary rocks (sandstone and shale), dolerite and basalt, as well as a granite dyke or sill associated with mineralisation.
Mineralisation is leached in the upper parts of the system with mineralisation tenor increasing from 20 metres depth.
ABM recently completed 45 aircore drill holes to an average depth of 60 metres at Hyperion. Of the 45 holes, 23 intersected mineralisation (>0.5g/t gold cut-off). The aim of the drill program was to infill in the near-surface and to test along strike extensions.
Drilling at Hyperion East along strike from the main Hyperion Central zone added potentially two new zones of mineralisation (Figure 1 & Figure 2, in link below). Hole HYAC100011 intersected 21 metres averaging 2.84g/t gold (0.5g/t gold cut-off) including a higher grade section of 9 metres averaging 5.77g/t gold.
Hole HYAC100012 intersected 12 metres averaging 3.43g/t gold directly beneath HYAC100011, and also ended in mineralisation (Figure 1, in link below). Drilling is being planned to follow up on these new discoveries.
Furthermore, as noted in the highlights section above, infill drilling on the main Hyperion Central zone intersected wide zones of mineralisation including an intersection of 21 metres averaging 4.42g/t gold in HYAC100022 (refer Figure 2 & 3 and Appendix 1, in link below).
Other Pending Results
ABM has now completed its mid-year drill program. Assay results from drilling at the Twin Bonanza Gold Project including drilling from the Buccaneer Porphyry Gold Deposit, the Black Cat Prospect, the Casa Prospect and the Vampire Prospect are pending receipt and compilation. ABM intends to follow up with further drilling shortly.
To view figures and appendix, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ABU-731245.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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