ABM Resources (ASX: ABU) is on track for a maiden JORC Resource at the Hyperion Gold Project following assays from the company's 2011 drilling program at the project.
Hyperion is located in the Northern Territory, less than 50 kilometres from ABM's Twin Bonanza Gold Camp.
The latest results from the 20-hole reverse circulation drilling program at Hyperion include:
- 26 metres at 2.95 grams per tonne (g/t) gold, including 17 metres at 4.36g/t gold, which includes 13 metres at 5.46g/t gold;
- 35 metres at 1.27g/t gold, including 1 metre at 8.44g/t gold and 24 metres at 1.71g/t gold; and
- 26 metres at 1.17g/t gold, including 19 metres at 1.42g/t gold.
Managing director Darren Holding said, "The Hyperion Gold Project continues to return excellent near surface drill results and the system continues to show extensive wide zones of mineralisation.
"ABM has started compiling these results into the first JORC compliant resource on this project."
ABM's 100%-owned Hyperion Gold Project is located 18 kilometres north-northeast of Tanami Gold's (ASX: TAM) Central Tanami Gold Deposit, formerly Goldrush, which hosts a JORC Resource of 2.08 million ounces of gold.
Importantly, mineralisation at Hyperion shows geological similarities to Central Tanami.
Exploration at Hyperion to date has focused on two prospects, Hyperion Central and Hyperion South.
At the Hyperion Central Prospect, mineralisation has been defined over 600 metres of strike, within a 1 kilometre anomaly, and extends from surface to at least 250 metres depth.
Meanwhile, at Hyperion South, drilling has confirmed mineralisation of 250 metres of strike within an 800 metre anomaly, extending from near surface to at least 200 metres down plunge.
A third prospect, Hyperion West, has also been discovered.