ABM Resources unleashes spectacular 413.5g/t gold assay from Old Pirate prospect

ABM Resources (ASX: ABU) has intersected the second interval of bonanza grades from limited drilling to date at the Old Pirate Northern Extensions within the company’s 1.67 million ounce Twin Bonanza Gold Camp Project.

The latest results are from the drill interval where ultra high-grade visible gold was identified at Old Pirate from widespread quartz veins on August 8.

Partial results include 6 metres averaging 140 grams per tonne (g/t) gold, including 2 metres averaging 413.5g/t gold.

Which is good news for investors if assay results from the remainder of hole OPRC100021 and five other holes from Old Pirate Northern Extensions are any indication.

The back-log of samples in the laboratory is being cleared and further results from Twin Bonanza, as well as the company’s regional projects such as Kroda and Lake Mackay are expected shortly.

This zone extends Old Pirate to the north of previous drilling and also extends the system at depth.

Darren Holden, managing director of ABM Resources said “this is the second interval of bonanza grades that we have intersected in limited drilling to date, which, when taken with similarly high-grade surface samples and other drill results, bodes well for the potential of the Old Pirate Prospect."

Hole OPRC100021 is located about 150 metres farther north of OPRC100005 which in 2010 intersected 5 metres averaging 274g/t gold.

In addition, a surface rock-chip sample on the recently drilled section recorded 95.5g/t gold.

ABM is testing various parts of the 3 kilometre Old Pirate trend this year and is also in the process of getting the two high grade pre-split samples (about 20 kilograms each) transported to Perth for full metallurgical testing.

This will extract the gold from the samples and provide a further result for this high-grade gold section.

The company is planning further follow up drilling at Old Pirate this year.

In addition, about 250 metres of the targeted 1000 metres of the longitudinal bulk trenching program has been completed with results expected shortly.

The longitudinal trenching is designed to test the average gold grade of the veins at the surface ahead of possible resource estimation work.

Other Results

Drill-results have been received and compiled for other holes. Preliminary results from Old Pirate Southern Extensions include;

- 2 metres averaging 5.66g/t gold, including 1 metre averaging 10.65g/t gold;
- 8 metres averaging 1.05g/t gold, including 1 metre averaging 6.02g/t gold; and
- 16 metres averaging 0.64g/t gold, including 1 metre averaging 1.54g/t gold.

Selected samples from the Old Pirate drilling, including a hole where visible gold was sighted, are being returned to the laboratory for screen-fire assay methods to test for coarse particulate gold.

The Landlubber target located to the west of Old Pirate consists of an arsenic anomaly 2 kilometres long with no surface outcrop. Drill assays returned generally low-grade values with 1 metre at 3.44g/t gold being the peak value from 236 metres.

However, two of the six holes at Landlubber intersected a medium grained intrusive rock thought to be comparable to the Buccaneer Porphyry body and further work is on-going for targeting in this large anomalous area.

The Twin Bonanza Gold Camp is located about 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 Mining’s (NYSE: NEM) multi-million ounce Callie Gold Mine.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/19172/abm-resources-unleashes-spectacular-4135gt-gold-assay-from-old-pirate-prospect--19172.html