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ABM Resources hits 6m at 37.8g/t gold at Old Pirate

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ABM Resources (ASX:ABU) should trade higher after strong gold results from extensional drilling at the Old Pirate project within the Twin Bonanza zone in the Northern Territory.

Highlight assays from the Old Glory prospect included 6 metres at 37.82g/t gold with a peak value of 120g/t gold from 12 metres, and 4 metres at 33.47g/t gold with a peak value of 106g/t gold from 12 metres.

There was also a 1 metre hit at 122g/t gold from surface, and 1 metre at 49.6g/t gold from 11 metres.

The Old Glory Prospect previously returned generally modest grade results, so to locate wide high-grade intersections just a few metres below surface is noteworthy.

Old Glory consists of multiple veins over an area 280 metres by 50 metres, about 300 metres south of the main Old Pirate deposit.

The new zone is inferred to be a southerly plunging mineralised shoot and further drilling is being carried out to assess the geometry and extents of this zone.

Northern extensions to Old Glory also returned several mineralised intercepts indicating multiple structures with the highest assay being 9.93g/t gold over 1 metre. This will also be followed up with further work.

Mineralised quartz is evident at surface in the central area and test pits will be dug to better establish the extent of this mineralisation.

Further assay results will be reported as they come to hand.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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