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ABM Resources NL
Summary
| Project: | Suplejack | |
|---|---|---|
| Deposit: | Tethys | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/18/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-7-2016: ABM Resources NL announces an Exploration/Drilling Update report for its Tethys deposit at the Suplejack project. Drilling results incl. 17m @ 5.74g/t Au from 47m. ABM Resources NL (“ABM” or the “Company”) is pleased to report that the recently | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Alwin van Roij (Internal) | |
| ABSTRACT: | ABM Resources NL (“ABM” or the “Company”) is pleased to report that the recently announced (ASX 2 June 2016) reverse circulation (RC) drilling program at the Suplejack Project has been completed with a total of 84 holes for 8,346 metres drilled. All assay results from the Tethys Prospect, which is situated on the Hyperion trend to the east of the current resource (see appendix for details) and was the primary target of this drilling program, have now been received. The Tethys Prospect is situated within the Suplejack Project area on exploration license EL9250 in the northern Tanami. The latest drilling indicates that Tethys represents a significant extension of the Hyperion mineralised system. Geology at Hyperion consists of steeply dipping sedimentary rocks (sandstone and shale), dolerite and basalt. Mineralisation is considered to be associated with a granite dyke or sill and is typically evidenced by quartz veining and elevated alteration of the host rocks. The upper parts of the system are generally leached, with mineralisation tenor increasing from 20 metres depth. In the recent drilling program, 33 RC holes were completed for a total of 3,288 metres. The drill holes were designed to confirm and extend gold mineralisation identified by air-core drilling in 2015 (ASX 26 August 2015). This objective was achieved with 36 significant gold intercepts returned from 22 of the 33 completed holes. Collar positions for the new RC holes are shown in Figure 1 below with selected major intercepts labelled. Drill hole coordinates and details of all significant intercepts are presented in Tables 1 and 2 in the appendix. | |
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