Grades get even better from Old Pirate Trenching
Today we announced further longitudinal trench results from Old Pirate. This phase (Phase 2a) adds a further 110 metres of vein strike length averaging grades of 28.34g/t gold. When combined with the Phase 1 results we have extended the overall area of the trenched zones to 282 metres averaging 22.45g/t gold. One of these veins, on the eastern side, runs along 83 metres of strike length with samples averaging 56.31g/t.
These numbers clearly show that we have an excellent high grade system. All this is located only 1.8km from the 1.67Moz Buccaneer Porphyry Gold Deposit and its several new extensional zones we discovered this year.
There is another 1000+ samples to come from the Old Pirate trenching program and we are confident on gaining a full understanding of the spatial and statistical distribution of gold in this remarkably high grade system. Remember – Old Pirate was never “old” in the sense that there are no old workings anywhere in the vicinity of the project. This is one of the few (if not only) high grade gold vein systems in Australia that was completely missed in the gold rush days.
It seems that the gold price has firmed up too and gold appears to be the only true global currency and brings a certain solidity against the volatility of the global financial market.
It’s a busy week for ABM this week. Today was our second exciting release already this week. The Annual General Meeting is tomorrow so for those of you in Perth we look forward to seeing you then. There are plenty more results to follow soon.
Published: 29th November 2011