PAIV:ABM Resources high grade gold intersections extend Buccaneer deposit at Twin Bonanza
ABM Resources (ASX: ABU) has intersected high grade gold from the first three drill holes at its 1.67 million ounce Buccaneer porphyry gold deposit, adding a further dimension to the already intriguing large mineral system.
Drilling at the deposit, located on the Twin Bonanza gold camp in the Northern Territory, intersected between 196 metres and 251 metres of mineralisation. The holes were drilled as step-outs to the west of the deposit.
Highlights include:
- 1 metre at 44.9 grams per tonne (g/t) gold, within:
- 8 metres at 6.23g/t gold at a 1.1g/t cut–off;
- 23 metres at 2.33g/t gold at a 0.5g/t cut–off; and
- 174 metres at 0.49g/t gold at a 0.2g/t cut–off.
This assay from hole BCRC100037 is one of the highest single results yet at the deposit.
Darren Holden, managing director, said “the intersection of very high grade mineralisation (44.9g/t gold over 1 metre) causes us to re–asses other high grade intersections elsewhere on the deposit in an attempt to link them together into a coherent model.”
ABM also intersected the first recognised multi–element (gold–copper–silver– molybdenum) porphyry style mineralisation with a new zone at the end of hole BCRC100036, including:
The company said the intersection of potentially ore–grade gold copper silver molybdenum "is at relatively typical metal ratios analogous to polymetallic porphyry style deposits elsewhere in the world, and recognised for the first time in the Tanami region."
The Twin Bonanza Gold Camp spans an area 40km by 40km and the company has identified over 30 targets.
The project spans the highly prospective “Trans Tanami Structure” an inferred regional / tectonic geological feature which hosts numerous gold deposits including mining giant Newmont’s (NYSE: NEM) multi-million ounce Callie Gold Mine.
The company is continuing drilling and has a further 11 reverse circulation drill holes and three completed deep diamond core holes pending assay.
ABM is conducting several structural geological interpretations to link the high–grade fault/vein systems into a coherent geological model for further targeting.
The company is continuing step-out testing of Buccaneer, Old Pirate and several of the other 30 targets at Twin Bonanza.
ABM aims to upgrade some of the Resource at Twin Bonanza to an “Indicated Resource” category in coming months
