Quarterly Activities and Cashflow Report
Perth, Oct 21, 2015 AEST (ABN Newswire) - ABM Resources NL (
ASX:ABU) are pleased to provide the Company's Quarterly Activities and Cashflow Report for the 3 months ended 30 September 2015.
Highlights from Old Pirate Gold Mine (Twin Bonanza Gold Project)
- Four pits being developed concurrently
- Completed commissioning of the Coyote Processing Plant
- 10,013 ounces of gold produced to 30th September 2015
* Comprising 8,281 ounces sold and 1,732 ounces in circuit
- $1568 average price received to date
- Declaration of commercial production as of 1 October 2015
General:
- Unhedged & debt free
- $10.5M in cash and equivalents (gold)
Other Highlights:
- Returned high-grade drill intercepts from near-surface at Buccaneer including:
* 19 metres @ 5.83g/t gold
- Completed metallurgical test work at Buccaneer with extraction of:
* >95% gold
- Intersected new mineralized zones at Hyperion East with:
* 9 metres @ 5.77g/t gold
- Added further strong results from Hyperion Central including:
* 21 metres @ 4.42 g/t gold
- Discovered potential new mineral field at the Bumblebee Prospect:
* 7 metres @ 3.3g/t gold, 37.7g/t silver, 3.2% copper, 0.9% lead, 1.3% zinc and 0.08% cobalt
For the full Quarterly Report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ABU-738132.pdf
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.
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