TANAMI Project – NT (ABM 100%)
LOCATION
The Tanami project area is located 400km west of Tennant Creek and 200km south east of Halls Creek. Both the Buccaneer Porphyry Gold Project and Old Pirate High Grade Gold Project are located in this region, (their details available under Our Leading Project.
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Figure 1: Location map of Tanami sub projects |
GEOLOGY
TWIN BONANZA GOLD CAMP
The Twin Bonanza Gold Camp is centred approximately 22 kilometres south of the Tanami Road and 14 kilometres east of the Western Australia – Northern Territory border. The Project spans the highly prospective “Trans Tanami Structure” an inferred regional / tectonic geological feature which hosts numerous gold deposits including Newmont Asia Pacific’s multi-million ounce Callie Gold Mine. The camp hosts multiple deposit styles including bulk tonnage / low grade deposits such as the Buccaneer Porphyry Gold Deposit, vein hosted high grade systems such as the Old Pirate Prospect and the Hyperion Gold Project.
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Figure 2: Twin Bonanza Gold Camp.
Old Pirate
Generally consist of narrow quartz veins containing coarse particulate gold. The quartz veins are hosted within paleo-proterozoic sedimentary sequences. Please refer to Our Leading Project for more detail.
Figure 3: Gold in quartz vein from Old Pirate South (approx. 3mm).
Buccaneer
The Buccaneer Porphyry Gold Deposit body extends for 3 kilometre by 1.6 kilometre and is the only intrusion related / hosted gold resource deposit identified to date in the Tanami region. For more details please refer to Our Leading Project.
Bandit
The Bandit Trend (including the Bandit - Bandit South Area) consists of an area more than 4 kilometres long and 1.5 kilometres wide with widespread and outcropping quartz veins hosted in sedimentary shale and sandstone sequences. Much of the outcropping quartz is barren of gold, however, as with the Old Pirate area, quartz veins can trend from barren to high-grade over short strike lengths. Previously the Company drill tested one part of the Bandit Trend and assay results returned up to 13.5g/t gold.
As part of the on-going exploration work the Company sampled the Bandit - Bandit South Area. Rock sampling returned anomalous results with a peak value of 108g/t gold. The vein yielding the 108g/t gold rock chip sample, outcrops over several metres and is approximately 20 centimetres wide as exposed at surface. The area immediately to the south of this outcrop (along strike) is an area of vegetation and cover with no outcrop. Analysis of geophysical data reveals a number of structures (faults and folds) under the cover that link through to the main Old Pirate area to the North West. Overall the Bandit – Bandit South area shows anomalism over a 1.25 kilometre strike length. Exploration work involving surface soil geochemistry and rock-sampling is continuing with further results expected shortly.
Figure 4. Bandit - Bandit South Area showing surface geochemistry soil contours and rock-sampling results.
SUPPLEJACK
Hyperion Gold Project
The Hyperion Gold Project is located approximately 15 kilometres north-north east of the Groundrush Gold Deposit (Tanami Gold NL). The project consists of two mineralised zones namely Hyperion Central and Hyperion South. At Hyperion Central gold is hosted in quartz-carbonate veins associated with a granite dyke within a differentiated dolerite rock. At Hyperion South gold is hosted in quartz-carbonate veins within dolerite and sedimentary rocks. Five individual prospects have been identified within the Hyperion Project area – Hyperion Central, Hyperion West, Hyperion South, Stony Ridge and Jasper Hill.
RESOURCE & DEVELOPMENT
The Buccaneer & Old Pirate Deposit Resource
ABM has applied for permits to conduct a 10,000 tonne bulk sample / trial mining operation at Old Pirate. The purpose of the trial mine is to reconcile tonnes, grade and recovery and forms an essential part of feasibility assessment. The trial mining involves installing a small scale gravity gold recovery plant which can subsequently be upgraded into a full scale plant.
Overall Twin Bonanza high-grade zones (Buccaneer HGZ (2g/t cut-off) plus Old Pirate Trend (1g/t to 3g/t cut-off & top-cut)) deliver a combined resource of 7.72Mt averaging 5.2g/t gold for 1.29 million ounces of gold. For more detail please refer to Our Leading Project.
Hyperion Gold Project
ABM Resources and SRK Consulting (Australasia) Pty Ltd worked collaboratively in establishing a model and statistical search parameters of the mineralised zones. The mineralised zones strike to the west-northwest and dip steeply to the south-southwest.
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Figure 5: Hyperion Central and South grade shell models (green lines RC drilling, blue lines RAB and Vacuum Drilling). |
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Table 1: Hyperion Gold Project Resource Estimation without top-cut
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Cut-Off Grade (g/t)
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Million Tonnes
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Gold Grade (g/t)
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Contained Gold (Million Ounces (Moz))
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0.8g/t
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Hyperion Central
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2,209,000
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2.14
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152,100
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Hyperion South
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768,000
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2.71
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66,800
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Total
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2,977,000
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2.29
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219,000
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2.0g/t
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Hyperion Central
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875,000
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3.36
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94,400
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Hyperion South
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272,000
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5.37
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47,000
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Total
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1,147,000
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3.83
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141,400
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Table 2: Hyperion Gold Project Resource Estimation with 50g/t top-cut
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Cut-Off Grade (g/t)
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Million Tonnes
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Gold Grade (g/t)
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Contained Gold (Million Ounces (Moz))
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0.8g/t
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Hyperion Central
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2,209,000
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2.06
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146,600
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Hyperion South
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768,000
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2.25
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55,500
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Total
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2,977,000
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2.11
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202,200
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2.0g/t
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Hyperion Central
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875,000
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3.17
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89,100
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Hyperion South
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272,000
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4.08
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35,700
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Total
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1,147,000
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3.38
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124,800
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ABM Resources NL
Level 1, 141 Broadway, Nedlands WA 6009Tel: +61 8 9423 9777
Fax: +61 8 9423 9733
ABN: 58 009 127 020
