ABM Resources NL Commences Drilling at the Kroda Gold Project
20.06.2011 | ABN Newswire
09:56 AEST June 20, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.Perth, Australia (ABN Newswire) - ABM Resources NL (ASX: ABU) 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.
About ABM Resources NL:
ABM Resources (ASX: ABU) 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.
Contact:
Jutta Zimmermann
CFO / Company Secretary
ABM Resources NL
Tel: +61-8-9423-9777
Darren Holden
Managing Director
ABM Resources NL
Tel: +61-8-9423-9777
Berdine Mastaglia
Investor Relations Manager
ABM Resources NL
Tel: +61-8-9423-9777