ABM Resources NL (ASX:ABU) Announce significant diamond drill results including 3m @ 7.5% zinc received from last two holes of recently completed program at King Prospect. These drilling results have extended the high grade zinc rich massive sulphide Northern Lens 60m below and 50m north of the ED116 intercept of 5m @ 10.5% zinc.
Northern Lens high grade zone now extends over a vertical extent of 250m and strike extent of at least 60m within an overall zinc mineralised zone strike length of 650m. Follow up diamond drilling program commenced to determine dimensions of high grade sphalerite massive sulphide mineralisation intersected between ECD132 of 4m @ 11.5% zinc and ED144 of 3m @ 7.5% zinc
Project Background
The Erayinia Project is a 70:30 JV with Hawthorn Resources Limited (ASX: HAW) and is located approximately 150 km east south east of Kalgoorlie within an Archaean greenstone belt at the southeast margin of the Yilgarn Craton. Exploration carried out 14 years ago identified copper-zinc mineralisation in a possible Volcanic Massive Sulphide (VMS) environment. Focused exploration initiated by ABM Resources from 2005 onwards has confirmed the presence of a VMS zone (King prospect). A total of 25 drill targets have been identified within a 40 km long greenstone belt at Erayinia based on geophysical and geochemical anomalism. ABM is now intensifying its exploration drilling programs to determine the size and economic potential of its King prospect and the broader project area.
King Prospect: Diamond Drilling Results
ABM Resources NL (ASX: ABU) is pleased to announce that it has received significant assay results from the last two diamond holes from the 1,300m diamond drilling program at King Prospect to test below and north of the previously announced high grade intersection of 5 metres grading 10.5% Zn in drill hole ED116.
Results from drill hole ED144 have extended the high grade sphalerite-rich massive sulphide zone 60m below and 50m to the north of ED116 intersection of 5m @ 10.5% Zn within the Northern Lens (see attached long section). The overall zinc mineralised zone has been previously defined over a strike length of 650m. The Southern Lens has been tested at depth with only four drill holes at the same vertical depth as ED116.
The massive sulphide zone mineral assemblage visibly consists of sphalerite-pyrite/pyrrhotite-magnetite-galena. On either side of the massive sulphide zone are 1 to 2 metres of "disseminated" sulphides including sphalerite and (rare) galena. The host rock appears to be tuffaceous (banded chloritic-sericitic-siliceous schist) but adjacent to the massive sulphides, chlorite is dominant. Within the massive sulphide zone are angular siliceous fragments that may be relics of volcanic breccia or ejecta.
The table below details assay results from drill holes ED143 and ED144.
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Hole ID North East Interval Width Zn Pb Cu Ag
m m % ppm ppm ppm
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ED143 6538665 484920 517-520 3 3.60 3170 131 49
inc. 518-520 2 4.68 3515 154 58
ED144 6538690 484892 478-483 5 5.35 1684 151 23
inc. 480-483 3 7.56 1767 182 31
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Drill core sample primary preparation has been by crushing half the core sample. The sample was pulverized in a vibrating disc pulveriser. Samples have been processed using a robotic sample preparation system. Samples were digested and analysed using the Aqua Regia method. Lead and silver were determined by Inductively Coupled Plasma (ICP) Mass Spectrometry and zinc and copper by Inductively Coupled Plasma (ICP) Optical Emission Spectrometry.King Prospect: Commencement of Follow-Up Diamond Drilling Program
A new diamond drilling program has commenced at King to follow up and determine the full dimensions of the high grade zinc-rich massive sulphide mineralisation intersected below ECD132 (4m @ 11.5% Zn) and to the north of ED116 (intercept of 5m @ 10.5% Zn).
This program of NQ2 diamond tails comprising 1,100m, with hole depths of up to 460m, is expected to be completed by early September 2008 with first assay results expected to be received from the laboratory by the end of August. A program of RC pre-collars for the diamond tails, totalling 1,250m, was completed in July.
King Prospect - Down Hole Transient Electro Magnetic (DHTEM) Survey
A new DHTEM survey has been completed at King in drill hole ECD132 by Outer-Rim Exploration Services. The objective of the DHTEM survey was to test for a conductor below ECD132 which returned results of 4m @ 11.5% Zn.
NOTE:
The information in this Report that relates to Exploration results is based on information compiled by Harjinder Kehal who is a member of the Australasian Institute of Mining and Metallurgy. Harjinder Kehal is a Consultant Geologist with over 20 years experience as a geologist.
Harjinder Kehal has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity for which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code for Reporting of Exploration results, Mineral Resources and Ore Reserves. Harjinder Kehal consents to the inclusion in the report of the matters based on his information in the form and context in which it is used.
About ABM Resources NL
ABM Resources (ASX:ABU) is developing several gold discoveries in the Central Desert region of the Northern Territory of Australia. The Company has a multi-tiered approach to exploration and development with a combination of high-grade production scenarios such as the Old Pirate High-Grade Gold Project, large scale discoveries such as Buccaneer, and regional exploration discoveries such as the Hyperion Gold Project. In addition, ABM is committed to regional exploration programs throughout its extensive holdings including the alliance with Independence Group NL at the regional Lake Mackay Project.
Contact
ABM ResourcesMr Imants Kins
Executive Chairman
TEL: +61-8-9423-9777
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