ABM hits best results at Hyperion
THE DRILL SERGEANT: ABM Resources has enjoyed recent success with Reverse Circulation drilling on the company’s Hyperion gold project in the Northern Territory returning the project’s best results to date.
The Hyperion gold project is 100 per cent -owned by ABM and is located 18 kilometres north-northeast of the Groundrush gold deposit of ASX-listed Tanami Gold.
Location map of the Hyperion gold project relative to the Twin Bonanza
project and the Groundrush mine Northern Territory. Source: Company
announcement
Recent RC drilling results from the Hyperion gold project include:
– 35 metres at 5.43 grams per tonne gold (0.5g/t cut-off) from 36 metres depth, including 10 metres at 17.27grams per tonne gold (1.0g/t cut-off) and a peak value of 135 grams per tonne gold over one metre;
– 15m at 2.06g/t gold (0.5g/t cut-off), including 10m at 2.85g/t gold (1.0g/t cut-off);
– 12m at 3.48g/t gold (0.5g/t cut-off). Including 9m at 4.36g/t gold (1.0g/t cut-off);
– 26m at 1.14g/t gold (0.5g/t cut-off), including 4m at 2.3g/t gold (1.0g/t cut-off) and 13m at 1.13g/t gold (1.0g/t cut-off); and
– 8m at 1.25g/t gold (0.5g/t cut-off), including 4m averaging 1.95g/t gold (1.0g/t cut-off).
The company said further assays of drill results from the 2011 program at Hyperion are awaiting completion.
“ABM’s tiered exploration approach sees the company working advanced projects such as Old Pirate and Buccaneer along with regional discoveries and grass-roots targets simultaneously,” ABM Resources managing director Darren Holden said in the company’s announcement to the Australian Securities Exchange.
“This approach gives the company excellent optionality across its extensive portfolio.
“The Hyperion gold project is one of the company’s regional discoveries and is located only 18 kilometres from Tanami Gold’s Groundrush gold deposit.
“We expect that an initial resource will be estimated for the project following receipt of the remaining results from the 2011 drilling program.”
