ABM Resources extends Buccaneer

THE DRILL SERGEANT: ABM Resources has announced further results of extensional drilling being conducted at the company’s 2.67 million ounce gold Buccaneer porphyry deposit, located in the Northern Territory.

The Buccaneer porphyry gold deposit is situated within the company’s Twin Bonanza gold project, which also includes the Old Pirate high-grade gold deposit.

The 2012 field programs being conducted by ABM are primarily focused on advancing the Old Pirate deposit.

However, several areas at Buccaneer remain untested where the company is drilling to infill and extend the deposit.

Highlights from the drilling at Buccaneer include high-grade intercepts at the Cypress Zone of:

–    6 metres averaging 20.37 grams per tonne gold (1.1g/t cut-off), within 294 metres averaging 0.73 grams per tonne gold (0.2g/t cut-off).

Other results include extensions of the Eastern Contact Zone at Buccaneer of:

–    157m averaging 0.45g/t gold (0.2g/t gold), including two zones of 39m averaging 0.90g/t gold (0.5g/t cut-off) and 22m averaging 0.97g/t gold (0.5g/t cut-off).

 

Schematic contour map of the Buccaneer porphyry gold deposit with latest drill results labelled. Source: Company announcement

 

“The identification of further high grade gold bolsters the economic prospects of the bulk tonnage Buccaneer gold deposit,” ABM Resources managing director Darren Holden said in the company’s announcement to the Australian Securities Exchange.

“The latest results extend the Cypress Zone and the overall Buccaneer gold deposit footprint further along the north western contact.

“Mineralisation along the north western contact extends for more than a kilometre from the Caribbean Zone in the south to the Cypress Zone to the north.”