ABM Resources NL (ASX:ABU) Recent Drilling Extends Buccaneer Gold Porphyry to the South-East with Higher Grades

11.10.2011  |  ABN Newswire

Perth, Australia (ABN Newswire) - ABM Resources NL (ASX:ABU) is pleased to announce further drill results from the Company's flagship Buccaneer Gold Porphyry at the Twin Bonanza Gold Camp Project.

- Hole BCRC100058 testing south east extensions of Buccaneer returned:
202 metres averaging 0.65g/t gold (0.2g/t cut-off) including:
26 metres averaging 2.90g/t gold (0.5g/t cut-off) including:
18 metres averaging 4.05g/t gold (1.1g/t cut-off).

- Hole BCRC100060 testing the south east contact zone returned:
196 metres averaging 0.32g/t gold (0.2g/t cut-off) including:
28 metres averaging 0.52g/t gold (0.5g/t cut-off)
7 metres averaging 2.37g/t gold (0.5g/t cut-off).

- Hole BCRC100056 testing the sedimentary hosted Empress Zone and south east contact of the Buccaneer Porphyry returned:
114 metres averaging 0.54g/t gold (0.2g/t cut-off) including:
28 metres averaging 0.67g/t gold (0.5g/t cut-off)
13 metres averaging 1.03g/t gold (0.5g/t cut-off) including:
4 metres averaging 2.4g/t gold (1.1g/t cut-off).

- Hole BCRD100001, a diamond hole testing the main Buccaneer Porphyry Deposit returned:
367 metres averaging 0.35g/t gold (0.2g/t cut-off) including:
24 metres averaging 0.99g/t gold (0.5g/t cut-off) including:
18 metres averaging 1.14g/t gold (1.1g/t cut-off).
59 metres averaging 0.67g/t gold (0.5g/t cut-off) including:
21 metres averaging 1.25g/t gold (1.1g/t cut-off).

Darren Holden, Managing Director said, 'The latest round of results from the 1.67Moz gold Buccaneer Porphyry Deposit potentially link the main Buccaneer Deposit to the Empress Zone. It is very encouraging to see higher grades, including the 18 metres grading 4.05g/t gold, along with long intercepts of typical porphyry style mineralisation. We consider this potentially additive to the overall system at Buccaneer.'

Buccaneer South East Extensions and Empress Zone

Drill holes BCRC100056 to BCRC100060 were drilled to target the south-east extensions of the 1.67 million ounce inferred resource at the Buccaneer Porphyry Gold Deposit. All holes intersected widespread mineralisation from near surface to depths of several hundred metres. Refer to Appendix 1 (see link at the bottom of the release) for full intercept calculations and details. Further drilling is underway at Buccaneer with plans to infill the south-eastern extensions to resource status this year.

Other Targets at Twin Bonanza

The Twin Bonanza Gold Camp consists of 30 regional targets around the main Buccaneer Porphyry and Old Pirate discoveries. ABM has conducted scout drilling across several of these targets this year. All targets have yielded gold anomalism and further targeting is underway. Of particular note is that the Corsair target located north of Old Pirate returned 1 metre grading 4.05g/t gold and the Port target located on the Port-Starboard Trend returned 1 metre grading 5.83g/t gold. Results are detailed in Appendix 2 (see link at the bottom of the release) of this release. Several regional holes from Twin Bonanza are pending assay.

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 Appendixes, please refer to the following link:
http://media.abnnewswire.net/media/en/docs/ASX-ABU-560730.pdf

About ABM Resources NL:

ABM Resources (ASX:ABU) is a mineral exploration company focused on gold and gold/copper discovery in the Tanami-Arunta regions of the Northern Territory, Australia. The Company is one of the largest exploration license/license application holders in Australia. The Company has an aggressive exploration approach and is well funded for multiple target testing with multiple rigs in 2011.

Source:

ABM Resources NL

Contact:

Jutta Zimmermann
CFO / Company Secretary
Tel: +61-8-9423-9777

Darren Holden 
Managing Director
+61-8-9423-9777

Berdine Mastaglia
Investor Relations Manager
+61-8-9423-9777