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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	ABU
Latest Price:	0.06 (-3.39% )
52-week High:	0.08
52-week Low:	0.03
Market Cap:	152.06M

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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 buys remaining 15% of Barrow Creek Regional Gold Project

Monday, July 26, 2010 by Jeff Coote

ABM Resources (ASX: ABU) has purchased the remaining 15% of the Barrow Creek/Lander River Joint Ventures in the Northern Territory, constituting the Barrow Creek Regional Project, from Yuendumu Mining Company NL for an all cash consideration of $225,000.

ABM had previously purchased an 85% interest in the project from Newmont Asia Pacific on January 28th, 2010.
The Barrow Creek Project extends from the Stuart Highway just north of the Barrow Creek town site to the west for 180 kilometres. The area is approximately 200 kilometres south of the regional mining centre of Tennant Creek.

The Project area consists of a regional westnorthwest–eastsoutheast striking gravity anomaly known as the Willowra Gravity Ridge which is interpreted to be a major deep seated geological feature and a tectonic conduit for gold mineralisation.

There are several extensive gold anomalies at surface on Barrow Creek which includes the Kroda Gold Project, located 18 kilometres northwest of the Stuart Highway.

The project consists of 4 individual prospects (Kroda 1 to 4) with a combined anomalous strike length of 14 kilometres. Kroda 3 is the most advanced of the 4 prospects and contains a surface anomaly of gold extending over an area of 540 metres by 300 metres.

Historic drill results on the Kroda 3 Prospect include 27m @ 6.42g/t gold (0.3g/t cut-off) ending in mineralisation and including 6m @ 25.90g/t gold (1.0g/t cut-off) ending in mineralisation.

The transaction with Newmont in January secured 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.

In summary, the company holds eight “discovery stage” prospects where drilling on more than one drill section revealed exceptional results with a considerable surface or regolith anomaly indicating potentially large gold targets.

On July 12, 2010, ABM released the latest assay results for the first hole at the Old Pirate Prospect on the Twin Bonanza Project area, that confirmed high grade gold mineralisation.

Twin Bonanza is located in the Tanami region, approximately 22 kilometres south of the Tanami Road and 14 kilometres east of the Western Australia border.

ABM shares rose 7% to 2 cents in trading today.

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