ABM Resources NL Old Pirate High-Grade Gold Deposit Resource Estimation Update
30.09.2014 | ABN Newswire
Perth, Australia (ABN Newswire) - ABM Resources NL (ASX:ABU) ("ABM" or "the Company") is pleased to provide an updated mineral resource estimation for the Old Pirate High-Grade Gold Deposit located in the Northern Territory of Australia.Mineral Resource Estimation Update
Incorporating updated sampling data since the previous resource estimation (2013) including:
- 2013 trial mining grade control data and geological mapping.
- 2014 grade control drilling.
- Increased understanding of the geological controls on mineralisation.
Table 1. 2014 Mineral Resource Estimation for the Old Pirate High-Grade Gold Deposit at a 300g/t top cut and 1g/t cut-off.
-----------------------------------------
Category Tonnes Au (g/t) Ounces
-----------------------------------------
Indicated Resource 820,000 8.5 225,000
Inferred Resource 880,000 14.7 410,000
-----------------------------------------
Total 1,700,000 11.7 640,000
-----------------------------------------
Global Mineral Resource Estimate
ABM has completed an update of the global Inferred and Indicated Resource estimates for the Old Pirate High-Grade Gold Deposit (refer to Appendix 1 & 2 for details). The latest global resource estimate has been developed by integrating previous work (pre-2013) with the 2014 drill results, grade control data from trial mining and updates to the geological model.
The 2014 grade control drilling was largely consistent with the previous drilling and variations in geological modelling result in a modest reduction in tonnes and an increase in grade compared to the 2013 resource. The confidence level of the resource in the upper portions of the system has increased, however due to the nature of the system is not presented with sufficient control to define as a Measured Resource estimate. Refer to Appendix 1 and Appendix 2 in link below for further details.
To view all tables and appendix, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ABU-692863.pdf
About ABM Resources NL:
ABM Resources (ASX:ABU) is an exploration Company developing several gold discoveries in the Central Desert region of the Northern Territory of Australia. The Company has a multi-tiered approach to exploration and development with a combination of high-grade potentially short-term production scenarios such as the Old Pirate high-grade gold project, large scale discoveries such as Buccaneer, and regional exploration discoveries such as the Hyperion gold project.
In addition, ABM is committed to regional exploration programs throughout its extensive holdings including the alliance with Independence Group NL at the regional Lake Mackay Project, and the recently announced proposed divestment of the North Arunta projects to Clancy Exploration Ltd.
Contact:
ABM Resources NL
1
T: +61-8-9423-9777
F: +61-8-9423-9733
E: 1
www.abmresources.com.au