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ABM Resources follow up drilling extends Caribbean Zone and Buccaneer Gold Deposit

ABM Resources (ASX: ABU) has intersected more gold from drilling at its 1.67 million ounce Twin Bonanza Gold Camp Project, significantly extending the Caribbean Zone and Buccaneer Gold Deposit.

The latest results at the Caribbean Zone extend the system 30 metres to the south and it remains open in all directions.  The zone is pending drilling to first resource.

Highlights from hole BCRC100054 include:

- 47 metres averaging 1.67 grams per tonne (g/t) gold (0.2g/t cut-off) including:
- 36 metres averaging 2.06g/t gold (0.5g/t cut-off) including:
- 11 metres averaging 3.16g/t gold (1.1g/t cut-off); and
- 13 metres averaging 2.75g/t gold (1.1g/t cut-off).

Further results from Buccaneer have extended the system to the north east with drilling intersecting: 244 metres averaging 0.45g/t gold at 0.2g/t cut-off in Hole BCRC100051, including several higher grade zones of:

- 28 metres averaging 0.86g/t gold (0.5g/t cut-off) including:
- 8 metres averaging 1.92g/t gold (1.1g/t cut-off)
- 62 metres averaging 0.74g/t gold (0.5g/t cut-off) including:
- 13 metres averaging 1.40g/t gold (1.1g/t cut-off)

The company is bullish on further growth of this substantial system and there is now over 12,000 metres of drilling from multiple Twin Bonanza Targets pending assay.

Darren Holden, ABM Resources' managing director said “the Caribbean Zone is a distinct zone of fault/vein hosted gold within the porphyry and remains open in all directions.

"These latest results follow on from results of hole BCRC100045 with 21 metres averaging 2.55g/t gold and extends the system to the south with a wider intercept of mineralisation than intersected previously.

"This demonstrates that the Caribbean Zone has the potential to develop into a substantial system and further resource definition holes are being planned."

The Caribbean Zone is located about 250 metres to the north-west of the Buccaneer Porphyry Gold Deposit and is close to the contact of the porphyry.

ABM currently has one diamond core rig and one reverse circulation rig operating at Twin Bonanza.

For the remainder of 2011 the company is focusing on Buccaneer extensional targets, Old Pirate (trenching and drilling) and is testing up to 15 of the other targets in the wider Twin Bonanza Gold Camp.