07/07/2011 Quarterly Activities and Cashflow

Transcription

For personal use only
QUARTERLY REPORT
For the 3 Months Ended 30 June 2011
HIGHLIGHTS
CORPORATE
•
Strong Cash position 30th June 2011 ~ $8.74 Million.
BUSINESS – GOLD EXPLORATION AND DISCOVERY
• Drilling recommenced (following the wet season) at Twin
Bonanza targeting:
• Extensions of the 1.67Moz Gold Buccaneer Porphyry Deposit
• Extensions of Old Pirate High Grade Gold Discovery
• New discoveries in the broader Twin Bonanza Gold Camp.
• Drill Results from Twin Bonanza include:
• Extensions to Buccaneer Porphyry Gold Deposit
• New discovery at the Caribbean Zone
• New Discovery at the Empress Zone.
• Metallurgical tests at Old Pirate (Twin Bonanza) indicate high
recovery of gold via gravitational methods (85.4%), and high total
recovery (99.5%). The recovered grade from ~100kg of vein
samples was 6g/t gold.
• Regional drilling commenced at the Kroda Gold Project.
PROJECTS
ABM Resources NL (“ABM” or the “Company”) is focussed on gold and gold-copper
projects in the Northern Territory of Australia.
The Twin Bonanza Gold Camp with its multiple targets is showing considerable potential
for both high-grade gold deposits and porphyry style (bulk tonnage) deposits. During the
quarter, drilling continued to test multiple targets at Twin Bonanza including extensions to
the 1.67million-ounce maiden Inferred Resource at the Buccaneer Porphyry Gold Deposit.
ABM is the largest exploration license holder in the Tanami – Arunta regions of the
Northern Territory. The Company firmly believes that the region is capable of further worldclass gold discoveries. ABM continues to prioritise its targets and a full target summary can
be found in Appendix 1.
Figure 1. ABM Project Location Map in the Northern Territory.
2
Exploration Summary from June Quarter
During the Quarter, ABM:
1. Received drill results extending the mineralised footprint of the Buccaneer Porphyry
Gold Deposit.
2. Drilled a new discovery at the Caribbean Zone located north-west of Buccaneer.
3. Drilled a new discovery (results announced 04/07/2011) at the Empress Zone
located east of Buccaneer.
4. Commenced drilling at the Kroda Gold Project.
Figure 2. Location Map / Project Map of ABM’s Projects.
Twin Bonanza Gold Camp
The Twin Bonanza Gold Camp contains more than thirty targets, including the Buccaneer
Porphyry Gold Deposit and the Old Pirate Gold Prospect. Twin Bonanza is centred
approximately 22 kilometres south of the Tanami Road and 14 kilometres east of the
Western Australia – Northern Territory border. The Project spans the highly prospective
“Trans Tanami Structure” – an inferred regional / tectonic geological feature which hosts
numerous gold deposits including Newmont’s multi-million ounce Callie Gold Mine.
3
Figure 3. Twin Bonanza Gold Camp - a cluster of >30 targets.
Buccaneer Porphyry Gold Prospect – Including 1.67Moz Maiden Resource
The Twin Bonanza Gold Camp includes the 1.67Moz Buccaneer Gold Porphyry Deposit.
The mineralisation extends from near surface to depths greater than 390 metres and is
open in several directions. The current Inferred Resource estimate does not yet include
any of the peripheral targets, such as the Old Pirate High Grade Prospect, where the
Company reported 43 metres grading 7.0g/t gold and 5 metres grading 274g/t gold in
drilling in 2010, or any of the other discoveries including the Caribbean Zone and the
Empress Zone. Details of the resource estimation are shown in Table 1 below (for full
details refer to announcement 21st Feb 2011).
Table 1. Inferred Resource Tonnes / Grade Table at varying cut-offs (announced 21 February 2011).
Cut-off Grade
(g/t)
0.2
0.5
1.1
Million
Tonnes
(Mt)
65.8
36.9
8.7
Gold Grade
(g/t)
0.79
1.01
2.01
Contained Gold
(Million Ounces
(Moz))
1.67
1.19
0.56
Note – Million Tonnes (MT) rounded to 3 significant figures; gold grade rounded to 2 significant figures and Million Ounces (Moz)
rounded to 3 significant figures.
4
Extensions of the Buccaneer Porphyry Gold Deposit
During the quarter ABM targeted extensions to the Buccaneer Porphyry Gold Deposit.
New drill results announced include:
 Hole BCRC100042 targeting north easterly extensions and beneath the Buccaneer
Deposit with:
o 241 metres averaging 0.53g/t gold (0.2g/t cut-off) including two separate
higher grade zones of:

70 metres averaging 0.7g/t gold (0.5g/t cut-off)

43 metres averaging 1.21g/t gold (0.5g/t cut-off).
 Hole BCRC100037 targeting westerly extensions of Buccaneer intersected:
o 174 metres averaging 0.49g/t gold (0.2g/t cut-off) including:

23 metres averaging 2.33g/t (0.5g/t cut-off) including:
 8 metres averaging 6.23g/t gold (1.1g/t cut-off) and
 1 metre averaging 44.9g/t gold.
 Hole BCRC100036 intersected the first recognised multi-element (gold-coppersilver-molybdenum) mineralisation on Buccaneer with:
 19 metres averaging 0.83g/t gold, 0.24% copper, 0.031% molybdenum,
1.38g/t silver.
The Buccaneer Porphyry Gold Deposit is hosted in a porphyrytic syeno-monzonite (a rock
similar to granite). The porphyry body extends for a further 2 kilometres to the north of the
current drilling. Testing of possible mineralised zones elsewhere in the porphyry will form
part of the 2011 program. Gold is hosted in quartz veins and fractures and is associated
with other minerals such as arsenopyrite and chalcopyrite. The higher grade zones are
currently inferred to dip gently to the north-east and/or are steeper dipping north-south
striking zones. Detailed geological work is still ongoing and this model may change.
The Buccaneer Porphyry is the only intrusive hosted gold resource deposit identified to
date in the Tanami region. Other deposits such as the Callie, Coyote and the Central
Tanami mines are hosted primarily in quartz veins within metapmorphosed sedimentary
and mafic igneous rocks.
During the quarter ABM drilled several peripheral targets around Buccaneer which led to
the discovery of the Caribbean and the Empress Zones.
5
Figure 4. Plan view of the Buccaneer Porphyry Prospect showing drill hole locations and geology. Map includes inferred
composite contour at various grade cut-offs from drilling projected from various levels to surface i.e. does not represent
single level plan- slice. Refer to previous press releases for details of the various cut-offs and intercept calculations.
6
New Discovery - Caribbean Zone
ABM identified a new zone of mineralisation located north-west of the Buccaneer Porphyry
Gold Resource. Drilling at this zone intersected 21 metres averaging 2.55g/t gold including
13 metres averaging 3.93g/t gold. The Caribbean Zone is an inferred north-south striking
fault / vein zone currently interpreted to link mineralisation in hole BCRC100045 with a
mineralised zone intersected in historic drilling, which includes 5 metres grading 27.35g/t
gold including 2 metres grading 67.44g/t gold. Drilling is underway to further test this
target.
Figure 5. Caribbean Target Zone with inferred projection linking mineralised zones
in holes BCRC100045 and BCRC10006.
7
New Discovery - Empress Zone
The Empress Zone discovery is a newly recognised zone of oxide gold mineralisation
hosted in quartz veins within sedimentary rocks located approximately 250 metres east of
the Buccaneer Porphyry Deposit. The Empress Zone was drilled during the quarter and
results were announced on 04/07/2011. Near surface drill results from the first hole at the
Empress Zone intersected 43 metres at 1.02g/t gold including 10 metres at 2.64 g/t gold.
.
Figure 6. Cross Section of drill hole BCRC100049 at the Empress Zone.
Old Pirate Gold Prospect (High Grade)
The Old Pirate High Grade Gold Prospect consists of a 3 kilometre long gold anomaly
located approximately 1,800 metres from the Buccaneer Porphyry Gold Prospect.
Old Pirate consists of outcropping gold bearing quartz veins hosted by sediments. More
than 15 individual veins have been mapped covering an overall area of 600 metres by 250
metres and range from 30cm to several metres in width. Drill results indicate gold extends
from surface to at least 60 metres depths. Gold is very coarse and can be high grade in
the veins as indicated by some rock chip samples grading greater than 2000g/t gold (refer
release 8 July 2010). Historic drill results and more recent drilling by ABM Resources in
2010 confirm the potential of the area.
8
Significant intersections include:

43m @ 7.0g/t gold inc:
o

17m @ 16.72g/t gold
5m @ 274g/t gold inc:
o
1m @ 1360g/t gold

6m @ 26.69g/t gold

7m @ 22.98g/t gold

10m @ 11.86g/t gold

13m @ 6.24g/t gold

3m @ 10.30g/t gold

1m @ 46.40g/t gold.
Refer to press releases dated 02/02/2010, 03/03/2010, 15/06/2010, 08/07/2010,
12/07/2010, 27/07/2010, 31/08/2010 and 15/11/2010 for full details.
Old Pirate Gold Prospect Metallurgical Test-Work
Preliminary Metallurgical test-work was carried out on 100kg of quartz vein material
gathered from 5 outcropping veins at the Old Pirate Gold Prospect. Quartz vein samples
were selected to approximate the average visual nature of the veins based on quartz
colour and other minor element content. A total 85.4% of gold was extracted using
gravitational methods and a total of 99.5% of gold was extracted using gravitational and
cyanide methods. The head-grade of the overall sample was calculated at 6.05g/t gold.
Drilling is underway to test the southern extensions of Old Pirate with 1 deep diamond core
and 3 deep reverse circulation (RC) holes complete and pending assay.
In the coming quarter ABM will conduct a bulk-trenching test of the near surface and
outcropping veins at Old Pirate.
Twin Bonanza Gold Camp – Additional Targets
In addition to the Buccaneer Porphyry Gold Deposit, the Old Pirate High Grade Gold
Prospect and the new Caribbean and Empress Zones, ABM has identified and prioritised a
further 28 regional targets on the western and eastern side of the 40km x 40km Twin
Bonanza Gold Camp. ABM intends to drill approximately 10 of the these extensional
targets in the coming 2 quarters.
9
Figure 7. Old Pirate Vein System with drill results, rock chip results and location of metallurgical samples.
10
Barrow Creek Regional Project
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 160 kilometre long geophysical
gravity trend 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.
Figure 8. Location of the Barrow Creek Regional Project and Kroda Gold Project.
11
During the quarter, drilling commenced on the multi-target Kroda Gold Project with an
initial program of 12 to 14 holes planned to depths of between 100 metres and 300 metres.
This work follows up on previous shallow drilling at Kroda 3 which returned:

6 metres averaging 25.90g/t gold and

15 metres averaging 5.85g/t gold.
In addition, a copper target located at the Kroda 2 prospect will also be tested. As at the
end of the quarter a total of four holes had been completed with results expected shortly.
Hyperion Gold Project
During the quarter ABM conducted a geophysical gravity survey at the Hyperion Gold
Project. The survey was designed to search for a possible buried intrusion (granite body)
which is the possible source of mineralisation at Hyperion. This work indicated an overall
gravity low to the south of the main Hyperion gold mineralisation, which is interpreted to be
a buried intrusion, and also highlighted several cross-cutting geological structures that may
provide other short-term drill targets.
Previously announced drill results from ABM at Hyperion include:

22 metres averaging 2.57g/t gold including:
o
11 metres averaging 4.29g/t gold


5 metres averaging 3.65g/t gold and

These drill results confirmed deeper extensions of the Hyperion Gold System and are in
addition to oxide gold zones results drilled by previous explorers, including:

o

o
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Priorities going forward include:
2011 Priority Discovery Stage Projects:

Twin Bonanza Gold Camp Project:
o
Buccaneer Porphyry Gold Prospect – further define extensions
o
Follow up drilling on the Caribbean Zone discovery
o
Follow up drilling on the Empress Zone discovery
o
Old Pirate High Grade Gold Prospect – extensional drilling and bulk
trenching, with a view to estimating a resource during 2011
o
Testing of other regional targets at Twin Bonanza such as MacFarlanes,
Landlubber, Corsair prospects etc.
2011 Other Planned Activities:

Kroda Gold Project
o

Lake Mackay Gold-Copper Project:
o

Drill testing ongoing of the extensive near surface gold and gold-copper
prospects at the Kroda Gold Project in the Barrow Creek Project area
following up on previous results.
Drill testing of the Iron Oxide Copper Gold targets such as Tekapo and
Taupo where previous results have returned 23 metres grading 2.5g/t gold
and 4 metres grading 2.6% copper. Geophysical gravity data shows an 8km
by 6km gravity anomaly.
Hyperion Gold Project:
o Follow up targeting / testing and possible initial resource estimation work.
NON CORE ASSETS
ABM continues to look at divestment options for its non-core assets.
Discussions on the divestment are ongoing with several parties on the Erayinia
volcanogenic massive sulphide target in Western Australia and the Mimosa Gold Project in
Mozambique.
TENEMENT PORTFOLIO
ABM has 35 granted licenses and 82 exploration license applications in the Northern
Territory totalling more than 30,000 square kilometres. ABM has developed a strong
working relationship with the Central Land Council and anticipates the granting of several
regional exploration project areas in the coming months.
13
CORPORATE
Option Exercise
During the quarter 500,000 unlisted options were converted to fully paid ordinary shares at
a price of 3 cents per share.
Yours faithfully
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
14
Berdine Mastaglia
Investor Relations Manager
+61 8 9423 9777
ASX ANNOUNCEMENTS
During the quarter the following ASX announcements were released regarding the
Company’s activities and projects:
20/06/2011
Drilling Commences at the Kroda Gold Project
17/06/2011
Broadcast -ABM hits New Gold Zone and Extends Mineralisation
16/06/2011
Further Success at Buccaneer - Discovery at Caribbean Zone
09/06/2011
First 2011 Drilling Extends Buccaneer
27/05/2011
Notice under Section 708A and Appendix 3B
10/05/2011
Updated Investor Presentation
09/05/2011
Exploration Update Twin Bonanza Program Ahead of Schedule
28/04/2011
Broadcast - ABM launches 2011 program
27/04/2011
Extensional Drilling Underway at Buccaneer Western Zone
18/04/2011
Quarterly Activities and Cashflow Report
12/04/2011
Presentation - 20 20 Investors Series
04/04/2011
Metallurgical Tests Reveal High Quality Ore - 99.5% Recovery
15
Appendix 1. ABM Asset Summary. Note – readers are referred back to previous announcements for full reporting of
exploration results on a particular prospect or project.
Discovery Stage Projects – Several mineralised intercepts confirmed continuous over
strike length with at least one sub-project pending drill to define extents or resource.
Sub-Project
Target Style
Infrastructure /
Access
Extents
Best Intersections /
Potential
2010/2011
Proposed and
Completed
Activity
Refer ASX
Announcement Date For
Further Details
Twin Bonanza Gold Camp Project
Buccaneer
Porphyry
related gold.
22km south of
Tanami Road.
All weather
tracks. 60km
from Coyote
Mill.
3km by 1.5km
extents.
1.67Moz Maiden
Resource.
Test extensions
of the Western
Zone and other
extensional
areas Q2, 2011.
01/02/2010 ,
03/03/2010,
15/06/2010
19/08/2010,
31/08/2010,
13/09/2010,
22/09/2010,
18/10/2010,
13/12/2010,
13/01/2011,
21/02/2011,
22/02/2011,
28/02/2011,
22/03/2011,
27/04/2011,
09/05/2011,
09/06/2011,
16/06/2011 &
04/07/2011
Old Pirate
High grade
sedimentary
hosted veins.
25km south of
Tanami Road.
All weather
tracks. 60km
from Coyote
Mill.
Extendable
over 3km of
Anomalies
largely
untested to the
North and
South of
Central Old
Pirate area.
43m @ 7.0g/t gold
incl 17m @ 16.72g/t
gold
Phase 1 and 2
drilled 17 holes
to depths of up to
409m drilling a
total of 4,614m.
02/02/2010,
03/03/2010,
15/06/2010,
08/07/2010,
12/07/2010,
27/07/2010,
31/08/2010,
15/11/2010 &
04/04/2011
5 metres grading
274g/t gold including
1m 1360g/t gold.
Surface
reconnaissance with
rock-chip samples
>2000g/t Au.
2011 – further
drilling and bulk
trenching Q3,
2011.
Metallurgical test
reveals high quality
ore with 99.5%
Recovery.
Caribbean Zone
High grade
fault zone in
porphyry.
22km south of
Tanami Road.
120m to 250m
long fault / vein
zone
21 metres @ 2.55g/t
gold including 13m
@ 3.93g/t gold.
Historic results
including 2m @
67.44g/t gold.
Further drilling
16/06/2011
Empress Zone
Oxide gold
zone hosted
by veins in
sedimentary
rocks.
22km south of
Tanami Road.
Not yet defined
43 metres @ 1.02g/t
gold including 26m at
1.43g/t gold including
10m at 2.64g/t gold.
Further drilling
04/07/2011
Twin Bonanza
Gold Camp
Companion
Projects –
Cypres;
Marauder, Casa
Anomaly 19,
Mavericks
Various.
18 to 25km
south of Tanami
Road. 18 to
45km from
Coyote Mill.
Combined
anomalism
over 8 sq km.
Largely
untested by
drilling.
Total of 30 targets at
the Twin Bonanza
Gold Camp including
Old Pirate and
Buccaneer.
Reconnaissance
and if successful
test multiple
targets Q3, 2011.
03/03/2010,
31/01/2011,
03/02/2011 &
18/04/2011
16
Northern Tanami Gold Project
Hyperion Central
Hyperion South
High grade
sedimentary
hosted veins.
High grade
sedimentary
hosted veins.
18km NNE of
Groundrush
Mine. All
weather roads.
18km NNE of
Groundrush
Mine. All
weather roads
500m x 100m
drilled zone in
overall 2km of
anomalies.
Open at depth
(drilled to 60 to
100m so far).
60m @ 2.57g/t Au
ending in
mineralisation inc.
21m @ 4.57g/t Au
ending in
mineralisation.
8m @ 2.86g/t Au.
5m @ 3.65g/t Au
7m @ 2.26 g/t Au
Phase 1 drilled 8
holes to depths
of 390m, drilling
a total of 1,278m.
120m strike
length open
28m @ 5.07g/t Au
inc. 13m @ 10.41g/t
Au.
22m@2.57g/t Au inc.
11m @ 4.29g/t Au
Phase 1 drilled 5
holes to depths
of 222m, drilling
a total of 900m.
Hyperion Jasper
Hill
High grade
sedimentary
hosted veins.
18km NNE of
Groundrush
Mine. All
weather roads.
120m strike
length open
25m @ 1.05g/t Au
inc. 16m @ 1.30g/t
Au.
Hyperion
Companion
Projects – Hyp
West; Grange,
Brokenwood, Old
Soldier
High grade
sedimentary
hosted veins.
18km NNE of
Groundrush
Mine. All
weather roads.
Multiple targets
>6 sq km of
anomalism.
3m @ 8.53g/t Au, 3m
@ 6.42g/t Au.
09/03/2010 ,
04/11/2010 &
11/01/2011
Review and
further
extensional
testing and
gravity
geophysical
survey
09/03/2010,
04/11/2010 &
11/01/2011
Review and
further
extensional
testing.
09/03/2010 &
04/11/2010
Reconnaissance
and if successful
test multiple
targets.
09/03/2010 &
11/01/2011
Brokenwood :
1 hole drilled to
depth of 300m.
Kroda Gold Project
Kroda 3
High grade
sedimentary
hosted veins.
18km from
Stuart Highway
(near Barrow
Creek).
540m by 300m
anomalous
zone defined
by shallow
drilling.
27m @ 6.42g/t Au
inc. 6m @ 25.9g/t Au
ending in
mineralisation
37m @ 2.75g/t Au,
inc. 15m @ 5.85g/t
Au.
Test depth
extensions and
along strike. Drill
Q2-Q3 2011.
16/03/2010,
17/03/2010 &
20/06/2011
Kroda
Companion
Projects 1, 2, 4
High grade
sedimentary
hosted veins.
18km from
Stuart Highway
(near Barrow
Creek).
More than
14km of
combined
strike length of
anomalism
defined with
shallow drilling
/ reconnaissance
9m @ 2.39g/t Au, 6m
@ 3.32g/t Au.
2 holes planned
for Kroda 1.
Kroda 2, Kroda
4.
Reconnaissance
and desktop
analysis.
16/03/2010,
17/03/2010 &
20/06/2011
Stafford Gold Zone
Sabre
High grade
sedimentary
hosted veins.
200km NW of
Alice Springs,
70km from
Tanami Road
via tracks from
Yuendumu.
600m by 240m
drilled zone.
35m @ 2.02g/t Au
including 17 m @
3.93g/t Au including
2m @ 18.15g/t Au.
Deep drill test
completed Q2,
2010.
18/01/2010,
24/05/2010,
15/06/2010 &
07/07/2010
Falchion
High grade
sediment
hosted veins.
200km NW of
Alice Springs,
70km from
Tanami Road
via tracks from
Yuendumu.
400m x 270m
drilled zone.
29m @ 2.32g/t Au,
inc 12m @ 3.76g/t
Au.
Deep drill test
completed Q2,
2010.
18/01/2010 &
07/07/2010
32m @ 1.84g/t Au,
inc 16m @ 3.67g/t
Au.
17
Stafford Gold
Zone Companion
Projects –
Yataghan,
Yataghan South,
Assegai,
Claymore
Reward
Polymetallic
Companion
Project
High grade
sediment
hosted veins.
200km NW of
Alice Springs,
70km from
Tanami Road
via tracks from
Yuendumu.
20 kilometres
of anomalous
strike length of
the Stafford
Gold Zone.
Companion
projects widely
spaced /
shallow drilling.
Up to 2m @ 4.1g/t
Au in shallow drilling.
Tested Yataghan
and Assegai with
no significant
intercepts.
18/01/2010 &
07/07/2010
Breccia hosted
Cu-Ag-Pb-Au.
200km NW of
Alice Springs,
70km from
Tanami Road
via tracks from
Yuendumu.
250m x 100m
outcrop of rock
chips.
Rock-chips returned
up to 20.3% copper
and 271g/t silver.
Reconnaissance
returned high
grade coppersilver in Q2 2010.
18/01/2010 &
13/05/2010
Emergent Projects – Large Scale Anomalies in New Districts Pending Drilling
Lake Mackay Projects
Sub-Project
Target Style
Infrastructure /
Access
Extents
Best Intersections /
potential
2010/2011
Proposed and
completed
Activity
Refer ASX
Announcement Date For
Further Details
Tekapo
IronOxideCopper-Gold
(Tennant
Creek / Ernest
Henry Style).
400km east of
Alice Springs,
60km from
Nyrripi.
1.2km by 600m
geochem
anomaly CuAu-Ag-Bi-MoSb.
16m @ 3.4g/t Au and
4m @ 2.67% Cu. No
drilling in bedrock
(surface regolith
zone).
2011 Drill 300m
holes into bed
rock to test CuAu-Ag-Bi-Mo-Sb.
Q3 2011.
07/01/2010
Dodger
Shear hosted
gold +
intrusion
related base
metals.
400km east of
Alice Springs,
68km from
Nyrripi.
Regolith (RAB)
anomaly 2.5km
long.
4m @ 3.56g/t Au.
Untested in fresh
rock. Several parallel
systems. Major
underlying intrusion
as the potential
source.
2011 Drill 200m
holes into bed
rock to test
regional shear
zone.
Pending
permitting
07/01/2010
Taupo
IronOxideCopper-Gold
(Tennant
Creek / Ernest
Henry Style).
400km east of
Alice Springs,
99km from
Nyrripi.
Regolith (RAB)
anomaly 8km
by 1km Cu-AuPb-Zn-Bi.
No test of fresh rock.
All regolith drilling in
depleted horizon.
Reconnaissance
2011 and if
warranted
drilling.
Q3 2011.
07/01/2010
Lake Mackay
Companion
Projects –
Wakatipu,
Manapouri
IOCG, Shear
hosted gold,
intrusive
related gold.
400km east of
Alice Springs.
Regolith (RAB
& Vacuum)
anomalies over
variable
extents.
All regolith drilling in
depleted horizon.
Reconnaissance
2011and if
warranted
drilling.
Q3 2011.
Pending
permitting
07/01/2010
Tanami / Arunta Region Emergent Regional Projects
Northern
Tanami- Soldier /
Birrindudu
Sedimentary
hosted veins.
~80km north of
Tanami /
Groundrush
Mines.
Extensive
Geochemistry
and magnetic
anomalies over
8 sqkm.
Reconnaissance
and possible test
Q3/Q4, 2011.
23/11/2009
North Arunta
Porphyry
related gold
and
sedimentary
hosted vein
deposits.
70km north of
Yuendumu.
Unprospected
ELAs spanning
the prolific
Trans-Tanami
Geological
Structure.
No work to date.
Regional structural
targets.
Conversion of
ELA to ELs
subject to
Traditional
Owner Approvals
Reconnaissance.
23/11/2009
Lake Mackay
IronOxideCopper-Gold,
High Grade
Vein.
450km east of
Alice Springs,
100km from
Nyrripi.
Unprospected
ELAs spanning
major
structures.
No work to date.
Regional structural
targets. Remote
Australia.
Conversion of
ELA to ELs
subject to
Traditional
Owner Approvals
Reconnaissance.
23/11/2009
18
Rule 5.3
Appendix 5B
Mining exploration entity quarterly report
Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10.
Name of entity
ABM RESOURCES NL
ABN
Quarter ended (“current quarter”)
A.C.N. 009 127 020
30 June 2011
Consolidated statement of cash flows
Current quarter
$A’000
Year to date
(12 months)
$A’000
(1,785)
(85)
(7,092)
(287)
(241)
(1,416)
Cash flows related to operating activities
1.1
Receipts from product sales and related debtors -
1.2
Payments for
1.3
1.4
1.5
1.6
1.7
Dividends received
Interest and other items of a similar nature received
Interest and other costs of finance paid
Income taxes paid
Other (provide details if material)
(a) exploration & evaluation
(b) development (business)
(c) production
(d) administration
Net Operating Cash Flows
46
(2,065)
408
(8,387)
Cash flows related to investing activities
1.8
1.9
1.10
1.11
1.12
1.13
Payment for purchases of: (a) prospects
(b) equity investments
(c) other fixed assets
Proceeds from sale of:
(a) prospects
(b) equity investments
(c) other fixed assets
Loans to other entities
Loans repaid by other entities
Other (provide details if material)
Net investing cash flows
Total operating and investing cash flows (carried
forward)
(45)
9
(36)
(2,101)
(187)
(399)
40
9
(537)
(8,924)
Appendix 5B Form
+ See chapter 19 for defined terms.
Appendix 5B Page 1
Current quarter
1.13
Total operating and investing cash flows (brought
forward)
Cash flows related to financing activities
1.14 Proceeds from issues of shares, options, etc.
1.15 Proceeds from sale of forfeited shares
1.16 Proceeds from borrowings/environmental bonds
1.17 Repayment of borrowings
1.18 Dividends paid
1.19 Payments for environmental bonds
$A’000
(2,101)
34
-
(192)
Year to date
(12 months)
$A’000
(8,924)
13,968
(33)
35
(192)
(158)
13,778
Net increase (decrease) in cash held
(2,259)
4,854
1.20
1.21
Cash at beginning of quarter/year to date
Exchange rate adjustments to item 1.20
11,003
3,890
1.22
Cash at end of quarter
8,744
8,744
Net financing cash flows
Payments to directors of the entity and associates of the directors
Payments to related entities of the entity and associates of the related entities
Current quarter
$A'000
1.23
Aggregate amount of payments to the parties included in item 1.2
1.24
Aggregate amount of loans to the parties included in item 1.10
1.25
Explanation necessary for an understanding of the transactions
116
Non-cash financing and investing activities
2.1
Details of financing and investing transactions which have had a material effect on consolidated assets
and liabilities but did not involve cash flows
2.2
Details of outlays made by other entities to establish or increase their share in projects in which the
reporting entity has an interest
Appendix 5B Form
Appendix 5B Page 2
Financing facilities available
Add notes as necessary for an understanding of the position.
Amount available
$A’000
Loan facilities
3.2
Credit standby arrangements
3.1
Amount used
$A’000
Estimated cash outflows for next quarter
4.1
Exploration and evaluation
4.2
Development
4.3
Production
4.4
Administration
$A’000
3,200
60
440
Total
3,700
Reconciliation of cash
Reconciliation of cash at the end of the quarter (as shown in the
consolidated statement of cash flows) to the related items in the
accounts is as follows.
5.1
Cash on hand and at bank
5.2
Deposits at call
5.3
Bank overdraft
5.4
Other (provide details)
Current quarter
$A’000
Previous quarter
$A’000
646
365
8,098
10,638
8,744
11,003
Funds held in trust until shares will be issued
Total: cash at end of quarter (item 1.22)
Changes in interests in mining tenements
6.1
6.2
Tenement reference
Interests in mining
tenements relinquished,
reduced or lapsed
Refer attached
Interests in mining
tenements acquired or
increased
Refer attached
Nature of interest
(note (2))
Interest at
beginning
of quarter
Interest at
end of
quarter
Appendix 5B Form
Appendix 5B Page 3
Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and dates.
Total number
7.1
7.2
7.3
7.4
7.5
7.6
7.7
+securities
Preference
(description)
Changes during quarter
(a) Increases through issues
(b) Decreases through
returns of capital, buybacks, redemptions
+Ordinary securities
returns of capital, buy-backs
+Convertible debt
securities (description)
securities matured,
converted
Options (description and
conversion factor) *
7.8
7.9
Issued during quarter
Exercised during quarter
7.10
7.11
Expired during quarter
Debentures
(totals only)
Unsecured notes (totals
only)
7.12
Number quoted
2,489,971,853
2,489,971,853
500,000
500,000
580,000,000
500,000
Issue price per
security (see
note 3) (cents)
Amount paid
up per security
(see note 3)
(cents)
0.03
0.03
Exercise Price
Various
Expiry date
Various
0.03
* On exercise of these options up to a further 166,500,000 options will be issued ($0.015 @ 5 years from issue date).
Appendix 5B Form
Appendix 5B Page 4
Compliance statement
1.
2.
This statement has been prepared under accounting policies, which comply with
accounting standards as defined in the Corporations Act or other standards acceptable
to ASX (see note 4).
This statement does give a true and fair view of the matters disclosed.
Sign here:
............................................................
(Company Secretary)
Print name:
Jutta Zimmermann
Date: 7 July 2011
Notes
1.
The quarterly report provides a basis for informing the market how the entity’s
activities have been financed for the past quarter and the effect on its cash position. An
entity wanting to disclose additional information is encouraged to do so, in a note or
notes attached to this report.
2.
The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in
mining tenements acquired, exercised or lapsed during the reporting period. If the
entity is involved in a joint venture agreement and there are conditions precedent which
will change its percentage interest in a mining tenement, it should disclose the change
of percentage interest and conditions precedent in the list required for items 6.1 and
6.2.
3.
Issued and quoted securities - The issue price and amount paid up is not required in
items 7.1 and 7.3 for fully paid securities.
4.
The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries
and AASB 1026: Statement of Cash Flows apply to this report.
5.
Accounting Standards ASX will accept, for example, the use of International
Accounting Standards for foreign entities. If the standards used do not address a topic,
the Australian standard on that topic (if any) must be complied with.
Appendix 5B Form
Appendix 5B Page 5
SUMMARY OF MINING TENEMENTS AND AREAS OF INTEREST
FOR THE QUARTER ENDED 30 June 2011
Areas of interest
Tenements
Economic
Entity’s Interest
EL23523
EL27705
EL28560
EL28566
EL5888
EL5889
EL8809
SEL28326
EL9250
EL26623
EL27566
EL27570
EL27812
EL27979
EL27980
EL26609
SEL28333
EL26619
EL27125
EL27126
EL22178
EL22228
EL22848
EL22850
EL23208
EL24436
EL24437
EL8602
EL8825
EL25194
EL25844
EL26610
EL26616
EL27124
EL27127
EL27339
EL27378
EL27813
EL28394
SEL23659
SEL23661
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
SEL28322
100
SEL28323
100
SEL28324
100
SEL28325
SEL28327
SEL28328
100
100
100
* Northern Territory
TANAMI
Birrindudu
*
Supplejack
Matrix
Cervantes
Bonanza
Notes
application
granted
application
application
granted
granted
granted
application covers ELs 5888 & 8809
granted
application
granted
application
granted
application
application
revised application
application
application
application
granted
granted
granted
granted
granted
granted
granted
granted
granted
application
application
application
revised application
revised application
revised application
application
application
application
application
granted
granted
application covers western SEL23661 &
EL2228
application covers eastern SEL23661 &
EL22178
application covers western EL22178 &
EL22848
All Northern Territory tenements in process of transfer to ABM Resources NL
Appendix 5B Form
Appendix 5B Page 6
FOR THE QUARTER ENDED 30 June 2011 Continued
Areas of interest
Tenements
Economic
Entity’s Interest
EL24344
EL10139
EL26608
EL25191
EL25192
EL28784
EL28785
EL25845
EL26590
EL26591
EL26592
EL26593
EL26613
EL26615
EL26618
EL26620
EL26621
EL26622
EL26673
EL27604
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
granted
granted
revised application
application
application
application
application
application
application
application
application
application
application
application
application
application
application
application
application
application
EL8696
EL10305
EL10306
EL23898
EL24299
EL24473
EL24492
EL24567
EL24915
EL24949
EL25630
EL25632
EL25866
EL27780
EL27872
EL27894
EL27906
EL8695
EL9343
EL24858
EL9442
EL9449
SEL28028
EL8697
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
granted
application
application
revised application
application
application
application
application
application
application
application
application
application
application
application
application
granted
application
revised application
application
granted
granted
application
granted
TANAMI
Pargee
South Tanami
Euro
LAKE MACKAY PROJECT
Taupo
Tarawera
*
Tekapo
Te Anau
Notes
All Northern Territory tenements in process of transfer to ABM Resources NL
Appendix 5B Form
Appendix 5B Page 7
FOR THE QUARTER ENDED 30 June 2011 Continued
Areas of interest
Tenements
NORTH ARUNTA
Walkeley Project
Bonita
Reynolds Range
Barrow Creek
Western Australia
Dalgaranga
Erayinia
Mozambique
*
Economic
Entity’s Interest
EL22554
EL22555
EL26903
EL23926
EL23927
EL23655
EL23888
EL28083
EL23880
EL23883
EL23884
EL23885
EL23886
EL25030
EL25031
EL25033
EL25034
EL25035
EL25036
EL25041
EL25042
EL25044
EL28515
EL28727
EL8766
SEL26825
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
M59/106
100
E28/1228
E28/1611
E28/1612
70
70
70
1435L
67.33
2295L
67.33
Notes
revised application
revised application
application
application
revised application
granted
granted
granted
granted
granted
granted
granted
granted
application
application
application
application
application
application
application
application
application
application
application
granted
granted
Hawthorn Resources Ltd 30%
JV with AYR Resources Africa and local
partners, ABM earning up to 86.33%
JV with AYR Resources Africa and local
partners, ABM earning up to 86.33%
Some Northern Territory tenements are still in process of transfer to ABM Resources NL
Appendix 5B Form
Appendix 5B Page 8

07/07/2011 Quarterly Activities and Cashflow

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