Twin Bonanza Porphyry Gold Project
Drilling is commencing Quarter 2, 2010 with one of our leading projects being the multi-prospect area - Twin Bonanza. The Twin Bonanza Project is located in the Tanami Region of the Northern Territory approximately 22 km south of the Tanami Road and 14 kilometres east of the Western Australia / Northern Territory Border. The project contains:
- The Buccaneer Zone – a gold porphyry system extending over 224,000 sq m.
- Old Pirate – High grade veins over a 3km strike length.
- TB High Grade Hornfels Zone.
- Cypress – gold porphyry system.
- Anomaly 19 – 2.5 km arsenic + base metal anomaly
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| Twin Bonanza and Old Pirate Location map |
The project is defined by a several prospects over a 5 km by 7km area.
| Figure 1 |
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| The Twin Bonanza Anomaly. Underlying image is contoured combination geochemistry image with anomalous indices of Au-As-Bi. All RAB / AC and RC/Diamond holes locations shown. |
The Buccaneer Zone is a target ready for drilling to determine the full extent of the system. ABM is planning to drill this target, which is the only porphyry related gold system identified in the Tanami Region to date forming a target proxy for other un-explored areas, to resource definition stage.
The Buccaneer Zone received the most detailed work by Newmont where RC holes define a zone 1km by 400m with every one of 36 drill holes intersecting mineralisation and defining an overall foot print of 224,000 sqm (Figure 2).
| Figure 2 |
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| The Buccaneer Zone schematic cross-section showing significant intercepts and RC holes > 130m. Shallow RAB/RC holes not shown. Labels stated as XX metres @ XX.Xg/t Gold. Cross-section is semi-schematic with holes projected up to 50m from either side of section line and staggered by up to 20metres for visualization purposes. Intercepts labelled in blue are for a 0.1g/t Au cut off, in red for 0.3g/t Au cut off and in purple for a 1g/t Au cut-off |
The Buccaneer Zone is open in several directions and represents approximately 15% of the overall Twin Bonanza anomaly. Most RC holes at Buccaneer end in mineralisation with grades generally increasing down hole with intercepts such as 138m @ 0.82g/t gold (at 0.1g/t cut-off) (ending in mineralisation) including higher grade:
- 67m @ 1.20 g/t gold (at 0.3g/t Au cut-off)
- 27m @ 1.70 g/t gold (at 1.0g/t Au cut-off)
- 105m @ 0.79g/t gold (at 0.1g/t Au cut-off) (ending in mineralisation) including higher grade intervals of:
- 83m @ 0.99g/t gold (at 0.3g/t Au cut-off)
- 5m @ 10.43g/t gold (at 1.0g/t Au cut-off)
- 130m @ 1.33g/t gold (at 0.1g/t Au cut-off) including higher grade intervals of:
- 54m @ 2.74 g/t gold (at 0.3g/t cut-off)
- 2m @ 67.44 g/t gold (at 1.0g/t cut-off)
Old Pirate High Grade Gold Project
| Figure 3 |
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| Old Pirate Southern Zone showing all RC hole locations. Average Depth of RC is 66m. Hole locations coloured for gram-metres which is g/t gold grade multiplied by interval width at 1.0 g/t cut-off. Shallow RAB and Vacuum holes not shown. Grid = MGA84 Zone 52.
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The project is located 1.5km southwest of the Twin Bonanza Porphyry Gold Project and contains multiple high grade gold veins up to several metres wide.
Significant drill intercepts from shallow drilling include:
- 52m @ 3.93g/t gold (0.3g/t cut-off) including
- 6m @ 26.69g/t gold (1.0 g/t cut-off)
- 50m @ 2.60g/t gold (0.3g/t cut-off) including
- 10m @ 11.86g/t gold (1.0g/t cut-off)
- 55m @ 1.38g/t gold (0.3g/t cut-off) including
- 5m @ 8.3g/t gold (1.0g/t cut-off)
- 63 @ 1.08g/t gold (0.3g/t cut-off) including
- 14m @ 4.34g/t gold (1.0g/t cut-off)
- 11m @ 12.46g/t gold (1.0g/t cut-off)
The Southern Zone at Old Pirate is an area of detailed work where 75 RC holes (averaging 64m depth) define an area 400m by 100m; this represents less than 5% of the overall target zone. A total of 57 of these holes intersect mineralisation >1.0g/t gold with a maximum assay of 152.65g/t gold. The system is not, in general, tested below a downhole depth of 66m (~38m vertical on 60 degree inclined holes).
| Figure 4 |
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| West-East Cross-Section at 7767850mN showing all drill holes (RC). Red bars and labels = >0.3g/t cut-off; and purple bars and labels >1.0g/t cut-off. |
Following a successful completion of the Newmont transaction, ABM aims to drill at Old Pirate in the second or third quarter of 2010. The initial aim is to adequately test beneath the Southern Zone to a depth of approximately 200m to 300m and to follow up extensions to the north throughout the entire 3km strike-length.
