THE DRILL SERGEANT: ABM Resources (ASX:ABM) has received some fairly impressive results from the first round of drilling conducted at the Golden Hind prospect.
Golden Hind is located 800 metres south of the Old Pirate gold deposit on the company’s Twin Bonanza Gold Camp project in the Northern Territory.
Map view of the Golden Hind prospect. Source: Company announcement
Golden Hind drilling highlights include:
– 17 metres averaging 29.43 grams per tonne gold, including 6 metres averaging 80.56 grams per tonne gold;
– 25m averaging 7.62g/t gold, including 8m averaging 14.28g/t gold and 1m grading 67.4g/t gold; and
– 21m averaging 4.27g/t gold, including 4m averaging 13.34g/t gold.
These results come from three of the holes drilled during the program.
A further 24 holes were completed at the Golden Hind prospect, which are pending assay.
“The Golden Hind discovery is very significant for ABM Resources,” the company’s managing director Darren Holden said in its announcement to the Australian Securities Exchange.
“Its proximity to Old Pirate, the wide high-grade intersections and the coarse gold previously reported at surface make it likely that it will add significant open-pit ounces to the project.
“We look forward to bringing you further results shortly.”
The Golden Hind prospect is located approximately 800 metres south of the company’s Old Pirate high-grade gold deposit.
According to ABM the prospect consists of gold bearing quartz veins hosted by sandstone and shale.
The company said it had interpreted veins to dip steeply to the south-west with mineralisation is currently interpreted to plunge approximately 50 degrees to the south within steeply dipping veins, however this model may change as further results are received.
ABM drilled the first five holes at the Golden Hind to test the orientation of veins.
The first two holes intersected high-grade mineralisation, while ABM has interpreted the third to have been drilled beneath the southerly plunging high-grade zone.
The fourth hole was drilled subparallel to the system and intersected the footwall of the zone of the veins, however, ABM said due to the drill angle of the hole, it did not intersect the main high-grade vein intersected in the first two holes.
The fifth hole was drilled in the footwall of the system and did not intersect significant mineralisation.
The Old Pirate gold deposit is a high-grade system with current resources of 427,000 ounces of gold averaging 7.95g/t gold (top cut) or 565,000 ounces averaging 10.95g/t gold (uncut).