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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	ABU
Latest Price:	0.04 (2.78% )
52-week High:	0.08
52-week Low:	0.03
Market Cap:	119.92M

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ABM Resources Full ABM Resources profile here

ABM Resources' (ASX: ABU) projects include the Twin Bonanza Project – a cluster of high grade and bulk tonnage targets.

Following the acquisition of certain Exploration Licenses and Exploration License Applications from Tanami Gold (ASX: TAM) and Newmont (NYSE: NEM) in the Northern Territory, ABM Resources is now one of the largest land-holders in Australia exploring for gold and gold-copper deposits.

ABM Resources kicks off drilling at Twin Bonanza gold project

Tuesday, June 15, 2010

ABM Resources (ASX: ABU) has commenced drilling at its flagship 100% owned Twin Bonanza Project located 14 kilometres east of the Northern Territory/Western Australia border, with at least seven targets and three early stage discoveries within a 10 kilometre by 10 kilometre area.

Targets range from the large scale Buccaneer Porphyry Zone to several high grade zones including Old Pirate and the TB Hornfels Targets. Several other surface or shallow gold anomalies remain to be tested by drilling.

Darren Holden, managing director said, “the Twin Bonanza Project area is our leading project with multiple targets and discoveries over a very large broadly anomalous area."

"The juxtaposition of high-grade vein and bulk-tonnage porphyry targets makes this not only geologically intriguing but also potentially economically significant."

"Despite a very brief rain delay, we are very pleased to commence drilling on this project so quickly following the completion of the acquisition from Newmont and look forward to providing results in a timely fashion.”

The transaction with Newmont secured a further 4700 square kilometres of exploration licenses and confirmed ABM as holding the largest ground position in the prospective and underexplored Tanami-Arunta region in the Northern Territory, with multiple “discovery stage” and advanced gold prospects.

The company said six vertical holes to more than 300 metres depth are planned for Old Pirate high grade zone following up where previous drilling returned up to 52 metres grading 3.58g/t gold (ending in mineralisation) including 6 metres grading 26.69g/t gold.

Eight inclined holes to more than 300 metres depth are planned for the large scale Buccaneer porphyry zone following up where previous drilling returned up to 110 metres grading 0.77g/t gold (ending in mineralisation) including 35m grading 2.23g/t gold

Two inclined holes to more than 200 metres depth are planned for the TB Hornfels Prospect following up where previous drilling returned up to 5 metres grading 48.5g/t gold including 1 metre grading 235g/t gold.

In addition drilling has been completed at the Stafford Gold Zone with assays pending on six holes.

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