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ABM Resources NL High-Grade Nickel, Cobalt and Manganese

30.01.2015  |  ABN Newswire
Perth, Australia (ABN Newswire) - ABM Resources NL (ASX:ABU) ("ABM" or "the Company") is pleased to provide an update on surface geochemical sampling and geological research from the Warumpi margin project, which is part of the Lake Mackay Regional Project alliance with Independence Group NL.


Du Faur prospect, part of the Warumpi margin project

- Rock sample from the Du Faur prospect returns high-grade results:
1.60% nickel
1.61% cobalt
38.5% manganese

- 7km by 5km nickel anomaly in soil sampling with peak value of 1300 parts per million (ppm) nickel in soils.

- Oval shaped body largely coincident with soil geochemistry, represented in magnetic geophysical data and also visible as a landform / vegetation anomaly in satellite imagery data inferred to be a mafic / ultramafic intrusion.

- Mapped gabbronorite and norite intrusive rocks - a rock type closely associated with magmatic nickel-copper-cobalt sulphide deposits.

- Located in the Northern Territory, 400km west of Alice Springs, 9km north of the Gary Junction Road; and 30 km north east of the town of Kintore.


Surrounding area to Du Faur prospect / Warumpi margin project

- West Arunta region on the margin of the Warumpi and Aileron Provinces.

- Several other nickel-copper-zinc and gold anomalies identified in soil sampling.

- Ultramafic / mafic intrusive suite of rocks highlighted by Geoscience Australia with high sulphur saturation with potential for magmatic nickel-copper-cobalt deposits analogous to the Voisey Bay project in Canada.

- ABM holds 518km2 of granted exploration license (EL 24915) surrounding the Du Faur prospect and has recently lodged 3600km2 of exploration license applications covering large regional gravity anomaly.

- Part of the Lake Mackay Regional Project agreement with Independence Group NL.

Darren Holden, Managing Director of ABM Resources said, "As ABM moves closer to the development of the Old Pirate High-Grade Gold Deposit it is important that we also keep momentum on our exploration and business development activities, including our regional exploration projects. These latest results, whilst early stage, present possible nickel-copper-cobalt and manganese targets and warrant follow up work."


Du Faur Prospect Area & wider EL24915

In the second half of 2014, Independence Group NL (IGO), in alliance with ABM, conducted broad spaced soil sampling throughout EL 24915. During this program a single rock sample was collected and returned results including 1.60% nickel, 1.61% cobalt and 38.5% manganese. The Northern Territory Geological Survey (NTGS)1 maps in this area show this area consists of a laterite (a surficial weathering rock) covering nearly 40 km2. Furthermore, there are also nearby mapped outcrops of gabbronorite and norite which are mafic intrusive rocks often associated with magmatic nickel sulphide ore bodies around the world. The elemental suite assayed in the rock sample is shown in Appendix 1 in link below.

Broad spaced (800m by 800m grid) geochemistry soil sampling was undertaken over the entire 518 km2 of exploration license EL24915 and has revealed a 7km by 5km nickel anomaly in soils (Figure 1) with a peak value of 1300ppm nickel. This survey also identified several other anomalies with nickel, copper, zinc and gold associations. Manganese and cobalt assays were not conducted as part of this soil survey. ABM has recently lodged, and had accepted, exploration license applications for the adjoining ground to add a further 3600 km2 of licenses.

The Du Faur geochemistry anomaly is broadly coincident with an oval shaped magnetic anomaly and a surface / vegetation anomaly visible in satellite data. There are three target models for potential mineralisation in this area:

1. Magmatic nickel-copper-cobalt sulphide deposits - postulated based on published research, presence of sulphur rich gabbronorite / norite, and recent geochemistry results.

2. Lateritic nickel-cobalt deposits - postulated as a target based on high-grade sample returned from outcrop, NTGS mapping of extensive laterite and extent of soil geochemistry anomalism.

3. Lateritic manganese deposits - postulated from the single high-grade sample collected, and NTGS mapping of extensive laterite.

The Du Faur prospect is located 400km west of Alice Springs and 9km north of the Gary Junction Road (a road linking Central Australia to the Canning Stock Route Road in Western Australia). The town of Kintore is located 32km to the south west


Background and Geology of the Warumpi margin project

The Arunta geological terrane is represented by Proterozoic metamorphosed sediments and intrusions consisting of provinces including the Tanami, Aileron and Warumpi Provinces. In the 1990s and early 2000s Geoscience Australia (formerly AGSO) highlighted the potential that the ultramafic and mafic intrusions on the margin of the Warumpi and Aileron provinces have high sulphur saturation and are analogous to the host rocks of world-class Voisey Bay nickel-cobalt deposit in Canada. These intrusions occur sporadically in natural outcrop for more than 300km in strike length across the northern margin of the Warumpi and the Aileron Province. In 1999 BHP Billiton flew an airborne electromagnetic survey over the region and in the mid-2000s actively explored several prospect areas and focussed around the Andrew Young Hills located 150km to the east of ABM prospects. Whilst there was some work undertaken in the western areas (where ABM's prospects lie), ABM has been unable to find any previous work suggesting the nickel-cobalt anomalism comparable to that released in this announcement.

ABM has recently acquired a further 3600km2 of exploration license applications (Figure 3) that cover over 140km of strike length of a pronounced geophysical gravity ridge. These exploration license applications form part of the alliance agreement with Independence Group. The Du Faur prospect is located at the western end of this gravity ridge. The regional gravity anomaly is coincident with the intrusions (including the mafic and ultramafic intrusions), and is inferred to represent a mantle discontinuity along the margin of the Warumpi and Aileron Provinces forming a target area for magmatic nickel-copper-cobalt mineralisation

To view figures and tables, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ABU-707931.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 the Old Pirate high-grade gold project, large scale discoveries such as Buccaneer, and regional exploration discoveries such as the Hyperion gold project.

In addition, ABM is committed to regional exploration programs throughout its extensive holdings including the alliance with Independence Group NL at the regional Lake Mackay Project, and the recently announced proposed divestment of the North Arunta projects to Clancy Exploration Ltd.



Contact:

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