Drilling Commences at the Kroda Gold Project

Transcription

Drilling Commences at the Kroda Gold Project
ASX ANNOUNCEMENT / MEDIA RELEASE
ASX:ABU
20th June 2011
Drilling Commences at the Kroda Gold Project
ABM Resources NL (“ABM” or “The Company”) is pleased to announce that, following a short delay to the arrival
of the drill-rig, drilling has now commenced at the 100% ABM-owned Kroda Gold Project. The Kroda Gold Project
is located on the Company’s Barrow Creek Regional Project approximately 18 kilometres west of the Stuart
Highway and 30 kilometres north of the township of Barrow Creek.
Highlights:
 Initial program of 14 holes commenced and planned to depths of between
150 metres and 300 metres.
 Testing of multiple prospects within a 14 kilometre combined strike-length
of gold anomalism.
 Following up on previous shallow drilling at Kroda 3 which returned:

6 metres grading 25.90g/t gold and

15 metres grading 5.85g/t gold.
 Following up on previous drilling at Kroda 2, a three kilometre gold and
associated copper anomaly.
Refer to release dated 16/03/10 for further details.
Managing Director of ABM Resources, Mr Darren Holden, said “ABM is one of the largest exploration license
holders in Australia and whilst the Company is focused on its leading project - the Twin Bonanza Gold Project,
we are committed to ongoing testing of our numerous priority drill targets throughout the region. The Kroda Gold
Project is a quality target, based on widespread anomalism in gold and other metals such as copper, along with
previous high grade gold drill intersections (established by shallow drilling). In addition Kroda is blessed with
excellent proximity to arterial roads, rail and power infrastructure. We look forward to bringing you drill results
soon from both this work at Kroda and our on-going programs at Twin Bonanza / Buccaneer.”
About the Kroda Gold Project
The Kroda Gold Project is located 18 kilometres west of the Stuart Highway, 30 kilometres north from the town of
Barrow Creek and 200 kilometres south of Tennant Creek. The project consists of 4 individual prospects (Kroda 1
to 4) with a combined anomalous strike length of 14 kilometres. The principal target commodity is gold, however,
Kroda 2 in particular has anomalous copper associated with the gold. The Project is well serviced with
infrastructure and is located on pastoral land close to the Stuart Highway, the Ghan Rail Line and the Northern
Territory Gas Pipeline.
The Kroda Gold Project is located within the Company’s Barrow Creek Regional Project area. The Barrow Creek
Regional Project consists of a defined 160 kilometre long gravity anomaly with associated metamorphosed
sedimentary rocks, dolerite intrusions and large granite intrusions. The region has several known mineral
occurrences including gold, copper, nickel, zinc, tin and tantalum.
Drilling at the Company’s leading project – the Twin Bonanza Gold Camp including the Buccaneer Gold Deposit
is also on-going.
Figure 1. Previous drill collar locations at the Kroda 3 Gold Prospect with significant intercepts labelled.
Refer release dated 16/03/10 for further details.
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Figure 2. Kroda Gold Project showing Kroda 1, 2, 3 and 4 anomalies. Refer release dated 16/03/10 for
further details.
Figure 3. Location of the Barrow Creek Regional Project and Kroda Gold Project
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About ABM Resources
ABM is a mineral exploration company focused on gold and gold/copper discovery in the Tanami-Arunta regions
of the Northern Territory, Australia. The Company is one of the largest exploration license / license application
holders in Australia. The Company has an aggressive exploration approach and is well funded for multiple target
testing with multiple rigs in 2011.
Figure 4. ABM Project Location Map Northern Territory
Signed
Darren Holden – Managing Director
Competent Persons Statement
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves
is based on information compiled by Mr Darren Holden who is a Member of The Australasian Institute of
Mining and Metallurgy. Mr Holden is a full time employee of ABM Resources NL and has sufficient
experience which is relevant to the style of mineralisation and type of deposit under consideration and to
the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the
“Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves”. Mr Holden
consents to the inclusion in the documents of the matters based on this information in the form and context
in which it appears.
For Further Information Please Contact
Jutta Zimmermann
CFO / Company Secretary
+61 8 9423 9777
Darren Holden
Managing Director
+61 8 9423 9777
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Berdine Mastaglia
Investor Relations Manager
+61 8 9423 9777