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ABM Resources NL
Summary
| Project: | Twin Bonanza | |
|---|---|---|
| Deposit: | Buccaneer | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/1/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 1-9-2017: ABM Resources NL announces a Resource Estimation report for its Buccaneer deposit at the Twin Bonanza project. Updated mineral resource estimate for the Buccaneer deposit. ABM Resources NL (“ABM” or “the Company”) provides an update of the Bucca | |
| Resources: | (Resource, I+I): 10.0Mt @ 1.82g/t Au for 585koz contained at Buccaneer | |
| CP/QP: | [Resources]: Matt Briggs, Paul Blackney (Internal;Optiro Pty Ltd.) | |
| ABSTRACT: | ABM Resources NL (“ABM” or “the Company”) provides an update of the Buccaneer Resource. The 2017 Buccaneer update completes the review of ABM’s Resources by the current management. The robust Mineral Resources in the company’s portfolio form a solid foundation for the current exploration strategy to build upon. The previous estimate was completed by ABM in February 2013 (ASX 5 February 2013). Since that time 48 aircore holes totalling 3,305 metres drilling, aiming to delineate additional oxide resources, and 4 diamond core holes totalling 749.9 metres have been completed. Recent activities by ABM include the re-logging of three Buccaneer diamond holes, substantial validation of the database data, and the review of the geological model by ABM and Optiro. This work showed that mineralisation is challenging to predict from drill hole to drill hole and the mineralisation tonnages reported in 2013 are difficult to support with the current drilling density. Though independently generated, this is a similar conclusion reached by SRK Consulting in the generation of prior Resources on Buccaneer (Table 3). The 2017 Resource represents a substantial reduction in the estimated deposit size compared to that declared in 2013 by ABM. At a 1 g/t gold reporting cut-off, the 2017 Resource Estimate is down 35% on tonnage, down 18% on grade and consequently down 47% on total metal compared to the 2013 case. | |
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