ABM Resources makes further gold discovery at Cypress, now 6 discoveries at Twin Bonanza

ABM Resources (ASX: ABU) has made another gold discovery at the Twin Bonanza Gold Camp Project - with results from drilling at the Cypress Prospect, located one kilometre north of the company’s 1.67 million ounce Buccaneer Porphyry Resource and 3.5 kilometres north west of the Old Pirate High Grade Prospect.

This takes to six the number of discoveries made by ABM, additional to the Buccaneer Porphyry Deposit, including; Old Pirate, Caribbean, Empress, Eastern Contact and Cypress. 

The Cypress Prospect is defined by 800 metres by 800 metres of anomalous gold in regolith, defined by shallow rotary air blast and vacuum drilling by previous explorers.

Highlights from drilling by ABM at Cypress included; 26 metres at 5.53 grams per tonne (g/t) gold from 167 metres, including the high grade zone of 7 metres at 20.13g/t gold.

Supporting the high grade hit was a broader intersection of 40 metres at 0.83g/t gold, including 2 metres at 10.68g/t gold.

ABM targeted Cypress with four initial deep and widely spaced holes.

Interestingly, one hole CYRC100004 intersected a high grade sample grading 138g/t over 1 metre gold from 186 metres.

CYRC100004 is the only hole drilled to depth by ABM ever along the northern-extensions of the contact and as a result the mineralisation at Cypress is open along strike to the north and south and up and down dip. 

Adding some extra spice to the intersection, the discovery is located on the western contact of porphyry with a similar style and a potential link to the Caribbean Zone located 0.8 kilometres to the south.

Darren Holden, managing director commented, “With new high-grade mineralisation and a possible link through to the Caribbean Zone we are very excited about the findings at Cypress.

"The company’s flagship project – the Twin Bonanza Gold Camp, is proving to be a large and varied mineral system, with multiple deposits and styles.

"Additional to the 1.67 million ounce Buccaneer Porphyry Deposit, we now have 5 further discoveries, Old Pirate, Caribbean, Empress, Eastern Contact and Cypress, pending drilling to resource."

For the remainder of 2011 ABM is focusing its effort on Buccaneer extensional targets, Old Pirate (trenching and drilling) and is testing up to 15 of the other targets in the wider Twin Bonanza Gold Camp.


Bonanza gold intersections at Old Pirate

The latest gold discoveries come hot on the heels of some spectacular results from the Old Pirate prospect announced last month.

These include 6 metres at 140g/t gold, including 2 metres at 413.5g/t gold.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/19501/abm-resources-makes-further-gold-discovery-at-cypress-now-6-discoveries-at-twin-bonanza-19501.html