ABM Resources NL: Latest Results Extend Eastern Contact Zone at Buccaneer Porphyry Gold Deposit

09:58 AEST Mar 7, 2012 ABN Newswire (C) 2004-2012 Asia Business News PL. All Rights Reserved.

Sydney, Australia (ABN Newswire) - ABM Resources NL (ASX:ABM) is pleased to present drill results from the Company's 2011 drilling at the Twin Bonanza Gold Camp Project, which focused on extensions of the Buccaneer Porphyry Gold Deposit.

Reverse Circulation (RC) drill results extend the Eastern Contact Zone to a footprint of 500 metres by 200 metres with results including:

Hole BCRC100078:
- 62 metres averaging 1.23g/t gold (0.2g/t cut-off) including:
- 54 metres averaging 1.39g/t gold (0.5g/t cut-off) including:
- 15 metres averaging 2.11g/t gold (1.1g/t cut-off).

Hole BCRC100080:
- 214 metres averaging 0.30g/t gold (0.2g/t cut-off) including:
- 32 metres averaging 0.63g/t gold (0.5g/t cut-off).

Hole BCRC100077:
- 96 metres averaging 0.42g/t gold (0.2g/t cut-off) including:
- 36 metres averaging 0.83g/t gold (0.5g/t cut-off) and
- 9 metres averaging 2.37g/t gold (1.1g/t cut-off).

Other News: Resource estimation update work for Buccaneer is now underway. It is intended that the new resource will incorporate extensions to the main Buccaneer Zone as well as 2011 extensional discoveries at the Cypress, Caribbean, Empress and Eastern Contact Zones. Further drill results are pending from the Old Pirate High Grade Prospect and the Hyperion Gold Project which, when received, will also be applied to resource estimation work.

Darren Holden, Managing Director of ABM Resources said, 'The latest results from the 1.67 million ounce Buccaneer Porphyry Deposit continue to extend the Eastern Contact Zone and resource estimation update work has commenced with SRK Consulting. The new resource is intended to incorporate the extensions to the main Buccaneer Zone as well as the peripheral extensional discoveries at the Cypress, Caribbean, Eastern Contact and Empress Zones.'


Eastern Contact Zone

The Eastern Contact Zone of Buccaneer is a zone of recently recognised mineralisation located parallel to the eastern contact of the monzonite porphyry. The mineralisation is hosted in quartz veins within chlorite altered monzonite porphyry.

The latest drill results for holes BCRC100077 to BCRC100082 combined with previous results for this area indicate the Eastern Contact Zone extends in an approximate north-south orientation over a footprint of 500 metres by 200 metres with mineralisation extending variably from the near surface to depths greater than 250 metres. Mineralisation remains open to the north with a further 2 kilometres of the eastern contact of the porphyry pending testing.


Other results presented

This release also documents holes BCRC100075, BCRC100076 and BCRC100083 which tested conceptual targets around the Cypress Zone discovery. These holes intersected minor mineralised zones. Refer to Appendix 1 for details. (See Link Below)


Resource Estimation Update

ABM has commissioned SRK Consulting (Australasia) Pty Ltd to conduct the resource update work at the Buccaneer Porphyry Deposit. It is intended that this work will incorporate extensions to the Buccaneer Porphyry Deposit including the multiple new zones discovered in the 2011 field season.


About the Twin Bonanza Gold Camp

The Twin Bonanza Gold Camp 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.

In 2010 ABM focused its effort at Twin Bonanza on the Old Pirate Prospect - a 3 kilometre anomaly with multiple high-grade zones in quartz veins hosted in sedimentary rocks and the Buccaneer Porphyry Gold Deposit - an intrusive related bulk tonnage gold deposit where the Company reported a 1.67Moz gold maiden resource in February 2011.

In 2011 ABM reported several extensional discoveries around Buccaneer including the Cypress, Caribbean, Empress and Eastern Contact Zones as well as high grade gold in drilling and trenching at Old Pirate and other peripheral discoveries.

For the Full announcement including tables, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ABU-581012.pdf

About ABM Resources NL:

ABM Resources (ASX:ABU) is an exploration company developing several gold discoveries in the Tanami-Arunta region of the Northern Territory of Australia. The Company's assets include the Twin Bonanza Gold Camp including the large scale / bulk tonnage Buccaneer Porphyry Gold Deposit which has several new extensional zones discovered in 2011 and the Old Pirate High-Grade Gold Prospect where the Company recently announced 726 metres of combined vein strike length averaging 24.01g/t gold from surface trenching (refer announcement dated 8/2/2012). In addition, regionally the Company has discoveries at the Hyperion Gold Project and the Kroda Gold Project and is also focused on unlocking the potential of one of the largest blocks of exploration licenses in Australia.



Contact:

ABM Resources NL
T: +61-8-9423-9777
F: +61-8-9423-9733
WWW: www.abmresources.com.au