Gold Exploration, Gold Mines, Investing In Gold, Gold Company

CORPORATE PROFILE

On 12 August 2009 ABM entered into a strategic alliance with Tanami Gold NL, whereby ABM purchased Tanami Gold’s Northern Territory landholdings. 

The Directors of ABM along with their alliance partner Tanami Gold NL, have recently announced the acquisition of Newmont’s Non Core Tanami and Barrow Creek Divestment Packages located in the Tanami Region in the Northern Territory. ABM will acquire 4700 square kilometres of exploration licenses considered to be highly prospective for new standalone exploration discoveries in the Tanami Area. These project areas are the Twin Bonanza Porphyry Gold Project, the Old Pirate Gold Project, the Hyperion Gold Project and the Grange Gold Project.

Following the completion of the Newmont transaction, ABM holds 28,000 square kilometres of exploration licenses and exploration license applications throughout the Tanami and Arunta regions. The Company considers that this region is one of the most underexplored gold provinces in Australia with the potential to host multiple world-class gold discoveries in excess of 5 million ounces.

In particular, the Newmont transaction gives ABM Resources several advanced targets including the Twin Bonanza Porphyry Gold project – a highly prospective and mineralized porphyry gold system covering an area in excess of 3 x 1.5km. Previous drilling has indicated broad gold mineralization of grades comparable to other major bulk tonnage gold deposits around the world and clearly the project has multi-million ounce potential.