ABM scores hearty gold intersections at Old Pirate
THE DRILL SERGEANT: RC drilling carried out by Perth-based Northern Territory-focused gold explorer ABM Resources at the northern extensions on its Old Pirate gold prospect has intersected widespread quartz veins.
According to the company the intersections include one sample with very high-grade visible gold.
The Old Pirate gold prospect is located on ABM’s Twin Bonanza gold camp located approximately 22 kilometres south of the Tanami Road in the Northern Territory and 14 kilometres east of the Western Australia – Northern Territory border.
The project spans the Trans Tanami Structure, which is an inferred regional / tectonic geological feature hosting numerous gold deposits including Newmont’s multi-million ounce Callie gold mine.
“The gold observed in the latest round of drilling at Old Pirate is visually the most impressive gold we have seen to date from drilling on the project,” ABM Resources managing director Darren Holden said in the company’s ASX announcement.
“The presence of ultrahigh-grade visible gold at Old Pirate is exciting as it (1) reinforces that Old Pirate is an unusually high-grade coarse gold system, (2) extends the gold bearing veins to the north beyond areas of previous drill results, and (3) at a down-hole depth of 231 metres, is one of the deepest intersections of mineralisation to date on this project.
“We eagerly look forward to announcing the results from this drilling as well as the extensional drilling at the company’s 1.67million ounce Buccaneer deposit located some 1.8 kilometres to the north west of Old Pirate.
“In addition, there are pending assay results from a considerable amount of drilling from other targets at the broader Twin Bonanza gold camp, as well as from the Kroda gold project.”
The deep reverse circulation drilling currently being undertaken by ABM at Old Pirate is testing the northern extensions of an ore-system the company identified in 2010.
One RC drill hole from the ongoing drilling program at Old Pirate intersected several zones of what the company described as, “intense quartz veins in intercalated sandstones and shales, as well as a diorite intrusive body”.
High-grade visible gold was intersected at a depth of 231 metres to 232 metres and the company has sent two split are waiting on assay results for this section, along with all the remaining samples from the hole.
ABM Resources is currently completing an eight-hole drilling program at the Old Pirate northern extensions.
The company also has drilling continuing at the Twin Bonanza gold camp project with approximately 8000 metres of drilling pending assay.
This drilling covers extensions to the Buccaneer zone as well as the Caribbean zone, Empress zone, Old Pirate and several other extensional target zones.
The company expects to receive results from this drilling soon.
A bulk trenching program at Old Pirate has also commenced with steady progress.
The industry demand for earth moving equipment has resulted in the program being carried out in various stages over the next two months.
However, ABM indicated the initial stage of the bulk trenching program has also revealed visible gold in outcropping veins in the central area of the Old Pirate prospect.