ABM Goes Caribbean

Hi,

Step-out drilling at the Buccaneer Deposit has yielded further success with discovery at the Caribbean Zone. This new target – the Caribbean Zone, is located approximately 250m to the northwest of the main part of the Buccaneer 1.67Moz gold resource.

The intersection of a remarkably consistently mineralised fault / vein zone at the Caribbean Zone target is a great outcome. Every time we drill a hole we learn something new and as we follow ABM’s distinct mantra to drill for discovery as well as to understand the system’s scale and nature, we are likely to find more of these peripheral zones.

Key highlights:

1. Hole 45 hit 21m @ 2.55g/t gold including 13m @ 3.93g/t gold. This is a different statistical distribution of grade to what we see elsewhere at Buccaneer. This is a NEW discovery!
2. The Caribbean Zone is an unusually strong surface metal (Au-As-Sb-Cu) anomaly associated with an embayment in the porphyry / sedimentary contact approximately 300m long.
3. This north-south anomaly allows us to model links to a previous hole which returned stunningly high grades including 5m @ 27.35g/t gold.
4. We will follow this up with a further 3 to 5 holes to confirm the continuity ahead of infill drilling to hopefully bring the Caribbean Zone to resource status. We are targeting a structure between 100m and 300m long, 5m to 40m wide and from near surface to depths of 300m+

In addition, further testing to the north easterly extensions beneath the main Buccaneer Deposit returned 241m @ 0.53g/t gold with 43m @ 1.21g/t gold. All new results help us learn and further understand this substantial system. ABM will continue to remain focused on expansive drilling and discovery. We are also about to start testing some of our other prospects around this area in our quest to turn Twin Bonanza into a world-class gold camp.

We eagerly await the next round of drill results and thank you for your continued support.

Darren
Published 17th June 2011