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ABM Resources NL
Summary
| Project: | Lake Mackay | |
|---|---|---|
| Deposit: | Grapple | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Copper-Zinc-Lead-Bismuth-Cobalt | |
| Date: | 12/20/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 20-12-2016: ABM Resources NL announces an Exploration/Drilling Update report for its Grapple deposit at the Lake Mackay project. JV with IGO - drill results incl. 6m @ 8.98ppm Au, 23.5ppm Ag, 1.45% Cu, 1.40% Zn, 0.26%Pb. ABM Resources NL (“ABM” or the Com | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Doug Winzar (Independence Group Nl) | |
| ABSTRACT: | ABM Resources NL (“ABM” or the Company) is pleased to provide all drill results for the Grapple Prospect on the Lake Mackay Joint Venture (“JV”) being managed by Independence Group (“IGO”). The Lake Mackay Project is located 400km northwest of Alice Springs, adjacent to the Western Australian border, and includes 7,200 square kilometres of exploration licences (Figure 1). The belt is at a very early stage of exploration. The only reported previous exploration was completed by BHP Billiton targeting nickel sulphide mineralisation in the early 2000s. IGO is executing an exploration program as part of an exploration alliance1 with ABM to systematically evaluate the Lake Mackay Project. The Project has consolidated the favourable Proterozoic margin between the Aileron and Warumpi Provinces, characterised by a continent-scale geophysical gravity ridge and the Central Australian Suture. The JV partners believe that there is potential to unlock a new metallogenic province hosting multiple styles of mineralisation. IGO has previously intersected interpreted VMS style mineralisation at Bumblebee. This target was identified through soil geochemistry and ground EM surveys. Subsequent drilling (ASX 27 July 2016) intersected low grade base metal mineralisation, comprising chalcopyrite, sphalerite and galena. Four of the holes returned a total of five intercepts greater than 1% copper. The intersection of these sulphides along with elevated gold, silver, copper, lead and zinc provides support for the prospectivity of the Lake Mackay Project. Encouraging drilling intersections were reported (ASX 14 November 2016) from the Grapple Prospect based on the first three holes of the RC drilling program. | |
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