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Market:	ASX
Sector:	General Mining
EPIC:	ABU
Latest Price:	0.06 (0.00%)
52-week High:	0.08
52-week Low:	0.03
Market Cap:	149.39M

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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 finds visible gold at Twin Bonanza Project

Wednesday, July 07, 2010 by Proactive Investors

Perth-based ABM Resources NL (ASX: ABU) has found visible gold at surface in hand-specimens from field reconnaissance in outcropping quartz veins at the Old Pirate South Prospect.

These have confirmed assays up to 2163 g/t Gold or 63.15 ounces per ton.

The 100% owned Twin Bonanza Project (including Old Pirate South) is the leading project for ABM Resources. The project is located 14 kilometres east of the Northern Territory / Western Australia border and 22 kilometres south of the Tanami Road.

Twin Bonanza has at least seven targets and three early stage discoveries within a 10 kilometre by 10 kilometre area. The Old Pirate South Prospect is located approximately 120 metres south of the main Old Pirate Prospect.

The prospect has received preliminary reconnaissance work by previous explorers including Newmont Asia Pacific.

ABM Resources' geologists, including the Managing Director, recently conducted a first pass review of the area. Several quartz veins, up to 2 metres wide, can be seen outcropping at surface.

Three samples collected by ABM Resources revealed visible gold in-hand specimens, two of which will be submitted for assaying.

Rock-Chip samples over an area of scattered outcropping quartz veins covering approximately 30 metres by 40 metres also revealed these high-grade results including:

- 1111 g/t Gold (32.4 oz/t)
- 511 g/t Gold (14.9 oz/t)

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

Following the field observations, a review of previous work revealed that high grade samples had been collected over an area approximately 30 metres by 40 metres.

The quartz veins exist as saddle reefs with the high grade anticline hinge zones plunging south at an inferred 50 to 60 degree angle. Previous shallow east-west oriented drilling intersected high grade gold up to 31.2g/t over 2 metres, however, the orientation of the holes resulted in the principal quartz veins noted at surface not being adequately tested.

ABM is mapping the geology of the area and Old Pirate South is being prioritised for drilling with holes to be angled north to intersect the multiple lodes.

ABM has now completed the first five holes at the main Old Pirate Prospect. All holes were drilled to a depth of at least 300 metres with the deepest hole being 409 metres. Samples are being submitted to the laboratory for processing. One hole has been completed at the TB Hornfels target and the drill rig has now moved to test the nearby Buccaneer Porphyry Target. Reconnaissance work at Old Pirate South is continuing and the Company intends to prioritise drilling in this area over the coming weeks.

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