At the Golden Hind Prospect, the stand-out reverse circulation highlight was from GHRC100014:
- 42 metres at 44.02g/t gold (0.5g/t cut-off) from surface, including 15 metres at 118.5g/t gold (1.0g/t cut-off).
- The main high grade vein included in this section returning 3 metres at 546g/t gold.
Panning recovered around 12 grams of gold from 15 kilograms of material suggesting coarse gold grade is under-called at the laboratory. (SEE PICTURE).
Darren Holden, managing director, commented: "GHRC100014 represents the best grade / width intersection ever on the Twin Bonanza Gold Camp Project. The Golden Hind Prospect, located only 800 metres south of the Old Pirate Deposit, is a potential second high grade open pit for an integrated operation at Old Pirate."
Other notable highlights were:
- GHRC100024: 20 metres at 10.59g/t gold (0.5g/t cut-off) from 13 metres, including 11 metres at 18.4g/t gold (1.0g/t cut-off); and
- GHRC100021: 21 metres at 9.52g/t gold (0.5g/t cut-off) from 11 metres, including 15 metres at 13.2g/t gold (1.0g/t cut-off).
Diamond core drilling is currently underway.
Most importantly with the discovery is the location, with the Golden Hind Prospect located just 800 metres south of the company's Old Pirate High Grade Gold Deposit - which hosts 427,000 ounces of gold at 7.95g/t gold (top cut) or 565,000 ounces at 10.95g/t gold (uncut).
Extensional drilling is on-going at both the Old Pirate and the Golden Hind Prospects.
Golden Hind Prospect background
The prospect consists of single high grade vein with other peripheral gold bearing quartz veins hosted by sandstone and shale. Veins are interpreted to dip steeply to the south-west.
High grade mineralisation is currently interpreted to plunge approximately 35 degrees to the south within steeply dipping veins. The latest round of results completes the initial 29 reverse circulation drill hole program at the Golden Hind.
Drill hole GHRC100014, in particular, intersected the widest high grade intersection drilled to date on the project. The main high grade vein was intersected at 16 metres depth and averaged 546g/t gold over 3 metre width within a zone of 15 metres averaging 118.5g/t gold. Either side of this vein are other high grade structures.
Gold at the Golden Hind Prospect is contained in quartz veins and quartz vein breccia. At surface high grade gold is confirmed over a strike length of 60 metres within a south west dipping vein. These latest results indicate that the high grade zone is plunging shallowly to the south
ABM Resources is well capitalised to achieve its milestones in 2012 and into 2013 with $23 million in cash (as of quarterly report dated 30 June 2012).
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