ABM Resources NL (ASX:ABU) has extended gold mineralisation east of the curent Hyperion mineralised system from drilling at the Suplejack Project situated in the Northern Tanami Region of the Northern Territory.
A total of 22 of the 33 holes were drilled at Tethys Prospect, returning significant widths and gold grades including 17 metres grading 5.74 g/t gold and 26 metres at 2.56 g/t gold.
In total, 84 holes for 8,346 metres were drilled as part of the reverse circulation drill program.
The results indicate that Tethys is an extension of the Hyperion gold mineralised system over a strike length of +1,300 metres.
A detailed mapping and re-logging program is currently underway at Suplejack to develop an alteration profile for the Hyperion area that may assist in targeting further mineralisation.
A limited diamond drilling program is also proposed to further improve the understanding of the geology of this mineralised system.
In May, Independence Group NL (IGO) exercised a $1.5 million option to a farm-in with ABM at the Lake Mackay gold/base metal project.
Following exercise of the option, IGO can earn a 70% interest in the project through the expenditure of $6 million within four years.
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