ABM Resources NL (ASX:ABU) Reports Further Higher Grade Drill Results at Buccaneer Gold Porphyry Deposit
Sydney, Oct 24, 2011 AEST (ABN Newswire) - ABM Resources NL (
ASX:ABU) is pleased to announce further drill results from the Company's flagship Buccaneer Gold Porphyry Deposit at the Twin Bonanza Gold Camp Project.
- The Reverse Circulation pre-collar of diamond hole BCRD10004 (diamond core assaying pending) testing the Western Zone at the Buccaneer Porphyry Deposit intersected:
174 metres averaging 0.97g/t gold (0.2g/t cut-off) including:
125 metres averaging 1.27g/t gold (0.5g/t cut-off) including:
29 metres averaging 3.56g/t gold (1.1g/t cut-off).
- The Reverse Circulation pre-collar of diamond hole BCRD100005 (diamond core assaying pending) testing the main Buccaneer area intersected:
77 metres averaging 0.54g/t gold (0.2g/t cut-off) including:
62 metres averaging 0.65g/t gold (0.5g/t cut-off) including:
6 metres averaging 1.63g/t gold (1.1g/t cut-off).
- Other news - Highly encouraging first drill results from grass-roots "Port / Anomaly 19" Prospect at Twin Bonanza with hole A9RC100001 intersecting:
52 metres averaging 0.32g/t gold (0.2g/t cut-off) including:
18 metres averaging 0.59g/t gold (0.5g/t cut-off) including:
6 metres averaging 1.27g/t gold (1.1g/t cut-off).
Diamond Core Holes BCRD100003 to BCRD100005
Drill Holes BCRD100003 to BCRD100005 are diamond drill holes with reverse circulation drilled precollars.
The diamond core assays are still pending, however the RC pre-collar results have been received and are presented in this release.
Hole BCRD100004 is a 801.6 metre hole which is testing extensions deep beneath the existing Buccaneer Deposit. The 390 metre reverse circulation pre-collar intersected widespread mineralisation through the Western Zone of the Buccaneer Porphyry including higher grade results of 29 metres averaging 3.56g/t gold within 125 metres averaging 1.27g/t gold. The peak assay value was 44.5g/t gold over 1 metre. The diamond-core shows strong visible signs of mineralisation with zones of highly altered porphyry and veins pending assay.
Hole BCRD100005 is a 396 metre hole which is testing depth extensions in the south-central part of the Buccaneer Porphyry Deposit. The 90 metre reverse circulation pre-collar intersected typical Buccaneer mineralisation from 12 metres down hole. Similarly to BCRD100004 the diamond-core shows strong visible signs of mineralisation with zones of highly altered porphyry and veins pending assay.
Hole BCRD100003 was drilled to test the south-western porphyry-sediment contact. The hole was collared in sediments with the entire reverse circulation pre-collar hosted in sediments with no significant results. The diamond core intersected the sediment-porphyry contact at 174 metre depth and also intersected visible signs of mineralisation in the porphyry with assays pending on the diamond core component.
Port / Anomaly 19 - highly encouraging first results
The Anomaly 19 Prospect is located 16 kilometres ENE from the Buccaneer Porphyry Gold Deposit.
The area is considered a grass-roots exploration target and is defined by gold and other associated metal anomalism over an area of 5.7 by 0.6 kilometres identified in historic shallow vacuum and rotary air-blast (RAB) drilling. Anomaly 19 is one of several targets located on the Company's 14 kilometre long Port-Starboard trend.
ABM drilled 5 scout holes into the Port / Anomaly 19 area to assess the rock-types and search for any possible signs of mineralisation. The first hole A9RC100001 intersected veins and altered sediments from 71 metres to 123 metres. The nearest hole intersecting fresh-rock in this area is located 1 kilometre away (PORC100001) and as a result ABM considers these initial drill results at Anomaly 19 warrant considerable further work.
About the Twin Bonanza Gold Camp
The Twin Bonanza Gold Camp is centred approximately 22 kilometres south of the Tanami Road and 14 kilometres east of the Western Australia - Northern Territory border. The Project spans the highly prospective "Trans Tanami Structure" an inferred regional / tectonic geological feature which hosts numerous gold deposits including Newmont's multi-million ounce Callie Gold Mine. In 2010 ABM focused its effort at Twin Bonanza on the Old Pirate Prospect - a 3 kilometre anomaly with multiple high-grade zones in quartz veins hosted in sedimentary rocks and the Buccaneer Porphyry Gold Deposit - an intrusive related bulk tonnage gold deposit where the Company reported a 1.67Moz gold maiden resource in February 2011. For the remainder of 2011 ABM is focusing its effort on Buccaneer extensional targets including Caribbean Zone, Cypress Prospect and Old Pirate (trenching and drilling).
For the complete ABM Resources announcement including figures and tables, please view the following link:
http://media.abnnewswire.net/media/en/docs/ASX-ABU-562583.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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