Is this the best visible gold in an Australian drill hole this year?
ABM RESOURCES ASX:ABU
“Discovery consists of seeing what everybody has seen and thinking what nobody has thought”. Albert Szent-Gyorgyi, Nobel Laureate
IS THIS THE BEST VISIBLE GOLD IN AN AUSTRALIAN DRILL HOLE THIS YEAR?
Figure 1. Gold panned from ~4kg of split RC drill sample at the Old Pirate Northern Extensions. Field of view approx. 20cm.
The above quote from a Nobel Laureate is certainly true for the ABM Resources’ exploration team and the above and below photographs are the product. If we wanted to discover the same as our predecessors then we would do just the same. But here at ABM we go wider, deeper and drill the courageous holes. The visible gold observed in drill hole OPRC100021 from a depth of 231m down hole (approx. 200m below surface) is simply outstanding. My 18 years of experience as an explorer has taken me through some great gold deposits around the world. From Mt Magnet and St Ives in Western Australia, the Carlin Trend in Nevada, Mexican porphyry / epithermal belt, various Pacific Rim gold deposits, Timmins (Canada’s equivalent of “Kalgoorlie”) ect., there is only one other place on the planet where I have witnessed gold this good in a drill-hole – Red Lake in Canada. If you recall, Red Lake was the deposit that catapulted GoldCorp from a struggling junior to the World’s second largest gold miner by market cap in only 10 years. OK, an isolated drill-sample does not make a world-class mine and visible gold in the Tanami region is not unusual, but it does show that this Old Pirate has buried a considerable amount of treasure.
Figure 2. In this zoomed in view you can see both the solid gold and the gold impregnated quartz material (smoky white bits). One jocular ABM staffer was not too far from the truth when she joked “a little visible quartz within the gold”.
Old Pirate is a high-grade vein gold system located approximately 1.8km to the south east of our 1.67Moz Buccaneer Gold Porphyry Deposit. We don’t have a JORC compliant resource on Old Pirate yet. However, there is a good set of gold-bearing quartz veins exposed at surface and trending under-cover to the north. Last year we drilled some great results at Old Pirate including 5m @ 274g/t gold and 43m @ 7.0g/t gold. The gold is not always evenly distributed in the veins which means that putting a JORC resource on this system is a touch trickier than usual, but with the latest visible gold we can confirm that there is some bountiful gold present. We have only just started chasing these northward extensions but if the first hole of the northward extension drilling is anything to go by we are in for some treats. As well as the drilling we are also undertaking the bulk trenching program where we are following veins and revealing some nice visible gold at surface too. To view the full details of today’s release please click HERE
It seems that we are amongst another maelstrom on global financial markets. Most pundits pick that this is going to be great for gold. Combine this with 8000m of drilling pending assay (and a strong news-flow projected) prospects for ABM are good going forward (ASX:ABU).
So my friends, I reiterate my promise to you. ABM will continue its aggressive exploration, we do so from a strongly funded base (refer Diggers presentation
) and we will continue to DRILL EARLY AND DRILL DEEP. Should you require further information please do not hesitate to call and I look forward to bringing you new results imminently.