ABM Resources NL (ASX:ABU) Quarterly Activities and Cashflow Report

ABM Resources NL (ASX:ABU) is focused on gold projects in the Northern Territory of Australia. The Twin Bonanza Gold Camp with its multiple targets has both high-grade gold deposits and porphyry style (bulk tonnage) deposits. ABM is the largest exploration license holder in the Central Desert regions of the Northern Territory. The Company believes that the region is capable of further world-class gold discoveries.

During the Quarter ABM continued the process of installing additional infrastructure at the Twin Bonanza Gold Camp which will be used for both the exploration phase and for the progression to the potential mining operation.

A mineral lease application for Old Pirate has been completed and lodged with the relevant Northern Territory authorities during the Quarter.

The application for the extraction of a 10,000 tonne bulk sample from the Old Pirate Deposit and the Golden Hind Prospect is awaiting authorisation. The Company has received approval from the Central Land Council and the Titles Division at the Department of Resources. The Mine Management Plan is expected to be processed by the Mining and Environmental Compliance Division shortly. The purpose of the bulk sample is to reconcile gold grade and gravity recovery. It is proposed to install a small-scale gravity gold plant on site for this work, with the intention that this plant will be readily and inexpensively scalable for a full mining operation.

Further details will be released following the grant of the authorisation. It is intended to complete the bulk sample under the conditions of the Exploration License.

Resource Estimation work is underway and is intended to be finalised by early February, 2013. The work involves both an update for Old Pirate (including Golden Hind) as well as a re-optimisation of the Buccaneer Porphyry Gold Deposit focusing on the higher grade zones within the overall low-grade / bulk tonnage system.

For the full quarterly report including tables and charts, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ABU-622359.pdf


About ABM Resources NL:

ABM Resources (ASX:ABU) is an exploration company developing several gold discoveries in the Central Desert region of the Northern Territory of Australia. The Company has a multi-tiered approach to exploration and development with a combination of high grade potentially short-term production scenarios such as Old Pirate and the Golden Hind, large scale discoveries such as Buccaneer, and regional exploration discoveries such as the Kroda Gold Project. In addition, ABM Resources is committed to regional exploration programs throughout its extensive holdings.

Contact:
ABM Resources NL
T: +61-8-9423-9777
F: +61-8-9423-9733
WWW: www.abmresources.com.au

 


Source:

ABM Resources NL

Copyright (C) 2013 ABN Newswire. All rights reserved.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here