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PRODIGY GOLD NL — AGM Information 2013
Nov 19, 2013
65615_rns_2013-11-19_af149175-0882-45c6-a0f4-d466bca6347d.pdf
AGM Information
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ASX:ABU
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ASX ANNOUNCEMENT / MEDIA RELEASE
20 November 2013
Managing Director’s Address Annual General Meeting 2013
Attached is a copy of the Chairman’s Address to the Annual General Meeting of shareholders which is being held today at 2:15pm at BDO Audit (WA) Pty Ltd, 38 Station Street in Subiaco, Western Australia.
About ABM Resources
ABM 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 short-term production scenarios such as the Old Pirate High-Grade Gold Project (currently undergoing trial mining), large scale discoveries such as Buccaneer, and regional exploration discoveries such as the Kroda Gold Project. In addition, ABM is committed to regional exploration programs throughout its extensive holdings.
Signed
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Jutta Zimmermann Company Secretary
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Annual General Meeting November 2013
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DISCLAIMER
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This presentation has been prepared by ABM Resources NL (“ABM” or the “Company”). It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation.
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This presentation contains forecasts and forward looking information. Such forecasts and information are not a guarantee of future performance, involve unknown risks and uncertainties. Actual results and developments will almost certainly differ materially from those expressed or implied. ABM has not audited or investigated the accuracy or completeness of the information, statements and opinions contained in this presentation. Accordingly, to the maximum extent permitted by applicable laws, ABM makes no representation and can give no assurance, guarantee or warranty, express or implied, as to, and take no responsibility and assume no liability for, the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omission from, any information, statement or opinion contained in this presentation.
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You should not act or refrain from acting in reliance on this presentation material. This overview of ABM does not purport to be all inclusive or contain all information which its recipients may require in order to make an informed assessment of the Company’s prospects. You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation and making any investment decision.
TECHNICAL STATEMENT / COMPETENT PERSONS STATEMENT
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The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Darren Holden who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Holden is a full time employee of ABM Resources NL and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves”. Mr Holden consents to the inclusion in the documents of the matters based on this information in the form and context in which it appears.
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Refer to previous Company Press-Releases for full resource estimation details, drill hole details, and intercept calculations. A full list is provided in Appendix C.
2
ABM Resources
3
Board, Management, Structure
| Board of Directors | ~~Major Shareholders~~ | |
|---|---|---|
| Dr Mike EtheridgeNon-Executive Chairman (GEOLOGIST) |
||
| Mr Darren HoldenManaging Director (GEOLOGIST) |
||
| Mr Imants KinsNon-Executive Director (ECONOMIST) |
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| Mr Graeme SloanNon-Executive Director (MINING ENGINEER) |
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| Mr Andrew FergusonNon-Executive Director (CAPITAL MARKETS / FUND MANAGER) |
~~ASX Code~~ ~~ABU~~ Shares on issue 3,283M Share options_(Ave Ex Price ~1.5c)_ 218M |
|
| Senior Management | Cash (End of quarter Sept 2013)* $2.8M |
|
| Mr Brad ValiukasChief Operating Officer (MINING ENGINEER) |
Market Cap(at 2.3 cents) $75.5M |
|
| Ms Jutta ZimmermannChief Financial Officer & Company Secretary (ACCOUNTANT) |
~~Fully Diluted EV~~~~(at 2.7 cents)~~ ~~$73M~~ * Does not include gold sales starting from October 2013. ABM also recently secured a two tranche back up and standby credit facility from the ANZ Bank |
ABM also recently secured a two tranche back up and standby credit facility from the ANZ Bank ~~($10M). Credit used as a security against future market conditions and available for non-cash~~ backed draw down on successful completion of Stage One Trial Mining & Processing.
4
ABM’s Significant Landholding
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5
Project Summary - 3.6Moz* in Global Resource
OLD PIRATE HIGH-GRADE GOLD BUCCANEER PORPHYRY GOLD PROJECT DISCOVERY
REGIONAL EXPLORATION PORTFOLIO
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High-grade never before mined gold deposit in Australia.
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Coarse visible gold in veins from surface.
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723,800 ounces at 11.96g/t (uncut) Resource Estimation.
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First gold porphyry discovered in the district.
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2.67 million ounce resource at 0.65g/t (0.2g/t cut-off).
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Buccaneer HGZ with:
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1.1Moz gold averaging 2.23g/t gold (1.0g/t cut-off).
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Largest land holding in Australia for gold.
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Hyperion - 202,200 oz gold resource.
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Kroda - pre-resource discovery with 29m @ 6.39g/t gold in drilling.
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Trial mining in progress.
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High margin open-pit potential.
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Significant extensional potential with higher grade zones.
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Large scale untested geochemistry anomalies.
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60+ regional targets.
TWIN BONANZA GOLD PROJECT 3.4Moz Gold Resource in 3 years
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Lake Mackay Exploration Agreement with IGO.
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*3.6Moz Company global resource = Old Pirate HighGrade Uncut (0.72Moz); Buccaneer global resource 2012 (2.67Moz) + Hyperion (0.2Moz) . Refer Appendix B for full details.
6
Refer to Appendix B for full Resource Tables.
Old Pirate – High-Grade Gold Resource
Mineralisation from surface to a depth of >200m and open in several directions.
| View north east | View north east | View north east | View north east | View north east | View north east | |
|---|---|---|---|---|---|---|
| Category | Tonnes | Gold Grade (g/t) (300g/t top-cut) |
Gold Grade (g/t) (uncut) |
Ounces Gold (300g/t top-cut) |
Ounces Gold (uncut) |
|
| Indicated | 889,000 | 8.19 | 8.93 | 234,100 | 255,300 | |
| Inferred | 993,000 | 11.80 | 14.67 | 376,900 | 468,500 | |
| Total | 1,882,000 | 10.10 | 11.96 | 611,000 | 723,800 |
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Old Pirate – High-Grade Gold Resource
Mineralisation from surface to a depth of >200m and open in several directions.
| View north east | View north east | View north east | View north east | View north east | View north east | |
|---|---|---|---|---|---|---|
| Category | Tonnes | Gold Grade (g/t) (300g/t top-cut) |
Gold Grade (g/t) (uncut) |
Ounces Gold (300g/t top-cut) |
Ounces Gold (uncut) |
|
| Indicated | 889,000 | 8.19 | 8.93 | 234,100 | 255,300 | |
| Inferred | 993,000 | 11.80 | 14.67 | 376,900 | 468,500 | |
| Total | 1,882,000 | 10.10 | 11.96 | 611,000 | 723,800 |
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Old Pirate – High Quality Ore Potential!
Gravity Recovery Test work shows:
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Gravity only recovery >90% in laboratory tests.
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No need for cyanide processing.
All the gold is in quartz:
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80% of the gold is in 20% of the quartz.
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Coarse gold effect (nugget) understood with longitudinal sampling, and trial mining.
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Multiple high-grade zones provide ease in minescheduling.
| Table shows all samples in mineralised veins used in resource estimation. |
Method | Approximate average sample weight (including duplicates) |
Total number of samples in mineralised zones (>0.5g/t) |
Approximate mass of total samples |
Mean (normalised to 1m sample width) |
|---|---|---|---|---|---|
| Trenching | 6.9kg | 3,355 | 23,286kg | 12.9g/t gold | |
| Drilling | 1.85 kg | 1,152 | 2,131kg | 9.89g/t gold |
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Old Pirate – High Quality Ore Potential!
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Panning gold from Old Pirate South V.G
Western Limb Rock samples
RC chips on
Western Limb .
Golden Hind – Excellent VG OP South
Panning from Heartland Veins
Golden Hind
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Old Pirate – High Quality Ore Potential!
Old Pirate Central Heartland Vein
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Old Pirate – Bonanza Grade Zones Start at Surface!
Example of 10 bonanza grade zones (undiluted grades from continuous strike length sampling)
Surface sampling (longitudinal trenching results) summary from 2011 and 2012 illustrating some of the areas that form part of the trial mine highlighting some of the bonanza high-grade areas at Old Pirate and Golden Hind. Note – these assay results have not been normalised to sample width and are hence undiluted grades. Averages based on original and duplicate samples as previously announced with labels displayed on peak value.
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Old Pirate – Our Staged Approach & Why?
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Our alternative to expensive feasibility study process.
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Minimises risk by utilising three key engineering advantages compared to other gold development plays:
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High-grade (5 times typical open-pit grade in Australia).
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Open pit with NO pre-strip (first scoops contain gold).
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Gold liberates very easily using gravity methods (no scaled up cyanide recovery required).
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Free Digging Gold in Quartz
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Old Pirate – Our Staged Approach
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Stage One – Trial Mining 10,000 tonnes under exploration license.
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.
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Aiming for >10g/t recovered grade (3000ounces) @ >90% recovery
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All plant and equipment installed.
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Weekly gold deliveries to the Perth Mint from October.
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Aiming to complete by early December.
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Stage Two – Open Pit mining using the same plant as at the Trial Mining. Upon granting of Mineral License. Aiming at late 2013 / early 2014.
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- Stage Three – Expansion phase increasing to 240,000 to 300,000 tonnes per annum. When the ore-body tells us to.
Each Stage is designed to mitigate risk, spread capital expenditure, generate cash-flow and
increase production incrementally.
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Old Pirate – Stage 1 - Bulk Sample / Trial Mining
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Dilution management working well:
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Direct trenching of veins, versus facing off methods.
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Minimising dilution to be better than inherent resource-model dilution.
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So far >9000 tonnes of ore from 7 HG zones stockpiled.
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New high-grade structures and thickening of veins identified.
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Multiple high-grade zones will allow for multiple active mining zones.
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Pilot processing plant performing well at 100 to 150t per shift.
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Old Pirate – Stage 1 - Bulk Sample / Trial Mining
Selective mining of veins at Golden Hind
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Old Pirate – Stage 1 - Bulk Sample / Trial Mining
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Rock breaker for
selective mining
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Old Pirate – Stage 1 - Bulk Sample / Trial Mining
Stockpiling Ore at Old Pirate South
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Old Pirate – Stage 1 - Bulk Sample / Trial Mining
New Insights into geological structure. Old Pirate South Blow Out Zone >100g/t gold
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Old Pirate – Stage 1 - Bulk Sample / Trial Mining
New Splay structures revealed at the Western Limb.
Ultra detailed mapping and sampling to understand our mineralised system.
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Splay Veins
Main
Western
Limb Vein
@30g/t
Splay Veins
Stockwork
veining
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Old Pirate – Stage 1 - Bulk Sample / Trial Mining
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Buccaneer
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Wilsons Camp
Western Limb
Pilot Processing Plant
Central Zone
Heartland
Eastern Limb
Old Glory
OP South East Side
SE veins
Bermuda
Bermuda South
Golden Hind
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View West
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Old Pirate – Stage 1 - Bulk Sample / Trial Mining
Pilot Processing Plant – Crushing circuit, ball mill, coarse gold jigs, knelson concentrator and upgrade tables.
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Old Pirate – Stage 1 - Bulk Sample / Trial Mining
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Gold Concentrate on the upgrade tables.
Gemini concentrate upgrade recovery table
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Concentrate
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Old Pirate – Stage 1 Bulk Sample / Trial Mining
What we have learned so far?
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Dilution management indicates we can mine at a higher grade than the resource model indicates.
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Several new zones / or blow-outs have been recognised.
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Weekly gold sales since early October
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Gold building up in circuit as well as recovered across table.
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Tails grades and “in-plant” recovery are excellent with >90% recovery indicated .
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Head Total Gold
Tonnes Tail Grade In-plant Gravity Gold Delivered
Grade Gold In Circuit (Delivered or In
Processed Average Recovery (%) to Perth Mint
Average Circuit)
1,233 ounces 945 ounces / 2,178 ounces
5,067t 14.7g/t 1.3g/t 91.10%
/ 38.4kg 29.4kg / 67.8kg
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Halfway point statistics (11/11/2013) ^
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Old Pirate – Beyond the Trial
Following successful trial and on-going optimisation studies:
Stage Two – open pit mining utilising the pilot plant
- Mineral lease application well underway.
150,000 tpa plant with only minor improvements required to Pilot Plant.
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Targeting top 30 metres in Stage Two with resource (in top 30m) of:
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420,000 tonnes averaging 10.36g/t gold for 140,000 ounces (indicated + inferred).
Stage Three – Expansion Phase
- Increase to 240,000 to 300,000 tpa by scaling modular plant funded from proceeds of Stage Two.
Pit expansion and potential underground development when the ore-body tells us too.
- Conceptually 300,000 tpa at 10g/t gold is a ~100,000 ounces gold per annum operation.
Beyond Stage Three – Integration with Buccaneer Porphyry Gold Deposit?
.
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Old Pirate – Growth Potential
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Western Limb & Eastern Limb have outcrop beyond existing resource, both with significant gold samples up to 34.7g/t gold and 69.7g/t gold respectively.
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Gold in soil anomaly >6km long.
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Bermuda and Bermuda South Zone 200m to SE of Old Pirate with high-grade veins pending drill test.
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Bandit Trend and Vampire Trend with up to 108g/t and 83g/t gold respectively.
Search for more “Golden Hinds”: Small footprint high-grade deposit - Discovered 2012 -> Mined 2013.
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Bermuda and Bermudan South Zones with
grade gold at surface pending drilling
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1.8km
Pilot Plant
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View north east
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Twin Bonanza Gold Camp
80 square kilometres of gold anomalism and 30+ targets.
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Vampire
Rocks up to 83g/t
Port-Starboard
52m @ 0.32g/t
18m @ 0.59g/t
Corsair
2m @ 31.05g/t Casa
Cypress 2km anomaly 2km by 1km
anomaly in
Discovery
soil sampling
26m @ 5.53g/t
7m @ 20.13g/t
Bandit
1m @ 13.25g/t
Buccaneer 108g/t rock-chip
Caribbean
Discovery Porphyry Old Pirate
Landlubber
36m @ 2.06g/t 1.1Moz to Sediments / 723Koz
5m @ 27.55g/t
2.67Moz altered intrusion
Assays up to 8g/t
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Buccaneer Gold Porphyry
- The first intrusive related gold deposit discovered in the region.
Cross-section through Buccaneer HGZ
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Bulk tonnage 127.8Mt @ 0.65g/t gold .
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for 2.67Moz gold
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New Buccaneer HGZ Resource:
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15.3Mt @ 2.23g/t gold for 1.1Moz gold (1g/t cut-off).
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Located only 3km from Old Pirate.
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Footprint 650m x 550m.
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True width of higher grade zones >100m.
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Has the scale potential to suggest low-strip ratio / bulk tonnage mining operation.
Plan View
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Buccaneer Gold Porphyry – 2013 HGZ Zone
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Buccaneer HGZ Model – View East (Indicated Resources Blocks only, Inferred not shown). Grey transparent area is 0.5g/t grade shell.
Cypress
160Kt @ 11.35g/t for
56Koz Au
Open in All Directions!
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| Buccaneer HGZ Resource at 2g/t cut-off. | Buccaneer HGZ Resource at 2g/t cut-off. | Buccaneer HGZ Resource at 2g/t cut-off. | Buccaneer HGZ Resource at 2g/t cut-off. | Buccaneer HGZ Resource at 2g/t cut-off. | Buccaneer HGZ Resource at 2g/t cut-off. | Buccaneer HGZ Resources at 1g/t cut-off. | Buccaneer HGZ Resources at 1g/t cut-off. | Buccaneer HGZ Resources at 1g/t cut-off. | Buccaneer HGZ Resources at 1g/t cut-off. | Buccaneer HGZ Resources at 1g/t cut-off. | Buccaneer HGZ Resources at 1g/t cut-off. |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Category | Tonnes | Grade (g/t Au) top-cut |
Grade (g/t Au) uncut |
Ounces Gold top-cut |
Ounces Gold uncut |
Category | Tonnes | Grade (g/t Au) top-cut |
Grade (g/t Au) uncut |
Ounces Gold top-cut |
Ounces gold uncut |
| Indicated | 2,261,000 | 3.39 | 4.17 | 246,200 | 303,000 | Indicated | 7,117,000 | 2.00 | 2.25 | 458,500 | 515,300 |
| Inferred | 3,573,000 | 3.75 | 4.56 | 431,100 | 523,500 | Inferred | 8,183,000 | 2.43 | 2.78 | 639,700 | 732,200 |
| Total | 5,834,000 | 3.61 | 4.41 | 677,300 | 826,500 | Total | 15,300,000 | 2.23 | 2.54 | 1,098,200 | 1,247,500 |
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Regional Projects - Overview
A multitude of advanced and high priority exploration targets throughout the Central Desert, NT
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North Tanami
Large gold anomalies
untested
Hyperion
202Koz Resource @
2.11g/t
Twin Bonanza
Old Pirate +
Buccaneer
3.4Moz Resource
Mallie
Look-alike geophysical
signatures to Callie and
large geochemistry
anomalies along strike
from Callie
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Lake Mackay Independence Group Optioned and Exploring Copper-Gold Targets 18m @ 3.05g/t and 27m @ 0.25% Cu
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North Arunta
60km stretch of
untested Trans-Tanami
Structure
Tulsa
10km of anomalism
untested with drilling
and major structure
Kroda – 4 targets
14km anomalism
57m @ 3.83g/t
29m @ 6.38g/t
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Stafford – 10 targets 20km anomalism 35m @ 2.02g/t Au 2m @ 18.15g/t Au + >20% Cu & >200g/t Ag in rock-chips
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Summary
The Company
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Strong management & exploration / development team.
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Discovery to production (trial) in quick time and low cost.
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Exceptional track record.
The Assets
- New discoveries 3.6Moz defined in <3 years of exploration.
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Includes the highest grade gold deposit at surface in Australia.
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~60 regional targets / the largest gold land holding in the country.
The Future
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Old Pirate Trial Mining and Processing completion and reconciliation.
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Expandable resource, mining and processing using staged approach.
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Extensional exploration with Bermuda, Bermuda South Zone and Bandit South High-Grade discoveries in 2013.
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Potential near-term production and cash flow at Old Pirate and long-term large scale project at Buccaneer.
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Regional exploration including IGO at Lake Mackay
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Thank You
For Further Information Contact ABM Resources NL
Managing Director – Darren Holden
CFO / Company Secretary – Jutta Zimmermann
COO – Brad Valiukas Investors Relations Coordinator – Berdine Mastaglia
www.abmresources.com.au
[email protected] Tel +61 8 9423 9777
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Appendix A - Board and Management
Board of Directors
Dr Mike Etheridge Non-Executive Chairman
Dr Etheridge is a geologist with over 40 years’ experience in exploration, mining, consulting and research. Until 2004 he was Chairman of the consulting firm SRK Consulting (Australia), having co-founded its predecessor, Etheridge Henley Williams in 1990. Dr Etheridge is a former board member on Consolidated Minerals and Lihir Gold and is currently Chairman of Zeus Uranium and Clancy Exploration Ltd. Dr Etheridge is an Adjunct Professor at Macquarie University where he has led an industry collaborative resource project on risk and value in mineral exploration.
Mr Darren Holden Managing Director
Mr Holden is a geologist with over 18 years experience in mining and exploration. Mr Holden has previously held the role of Senior Consultant at Fractal Geoscience and was involved in modelling and targeting on a wide range of deposit styles. Mr Holden was a leading member of the team that won the GoldCorp Challenge in 2001. Prior to ABM, Mr Holden was Vice President Exploration for a Vancouver based junior and oversaw the definition of several deposits including a multi-million ounce gold porphyry in Alaska.
Mr Imants Kins Non-Executive Director
Mr Kins is an Economist with over 25 years experience specialising in the resource sector. He has a Bachelor of Economics from the University of WA and a Master of Arts (Futures studies) degree from the Curtin University of Technology. Since 1987 Mr Kins has mainly worked as a consultant to the resource sector undertaking projects with exploration and mining companies, investors and brokers.
Graeme Sloan Non-Executive Director
Mr Sloan is a Mining Engineer with extensive corporate and operational experience both within Australia and overseas and is currently CEO of Herencia Resources PLC. He has held senior roles with several ASX listed companies, including Managing Director/CEO of Tanami Gold NL, and has been responsible for the successful development, implementation and commissioning of various projects over a range of different commodity types.
Andrew Ferguson Non-Executive Director
Andrew Ferguson is an Executive Director and the Chief Executive Officer of APAC Resources Limited, which is a natural resources investment company listed on Hong Kong Stock Exchange. Mr Ferguson holds a Bachelor of Science Degree in Natural Resource Development and was a mining engineer in Western Australia in the mid 90's. In 2003, Mr Ferguson co-founded New City Investment Managers in England. He has a proven track record in fund management and was the former co-fund manager of City Natural Resources High Yield Trust, which was awarded best UK Investment Trust in 2006. He has also worked for CQS LLP (CQS) in Hong Kong as the Chief Investment Officer for New City Investment Managers CQS and a Senior Portfolio Manager for CQS.
Senior Management
Brad Valiukas Chief Operating Officer
Mr Brad Valiukas is a Mining Engineer with over 16 years management and technical experience in the mining sector. Mr Valiukas has previously held roles of Chief Operating Officer at Focus Minerals Ltd, Deputy Chief Mining Engineer at Mincor Resources and has worked in both open pit and underground mining environments, and is an expert in narrow vein mining. Mr Valiukas holds a Bachelor of Engineer (Mining) from the University of New South Wales and multiple industry based accreditations.
Jutta Zimmermann Chief Financial Officer & Company Secretary
Ms Zimmermann has over twenty years experience in accounting, taxation and management in both Australia and Germany. She is an accountant with an Australian AQF diploma level and a equivalent Australian bachelor degree level from the Furtwangen Polytechnic in Information Technology and is a member of Chartered Secretaries Australia. Ms Zimmermann holds the position of Chief Financial Officer with the company and was appointed Company Secretary on 17 April 2007.
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Appendix B – Resource Statement
| Old Pirate Resource Estimation February 2013. | Old Pirate Resource Estimation February 2013. | Old Pirate Resource Estimation February 2013. | Old Pirate Resource Estimation February 2013. | Old Pirate Resource Estimation February 2013. | Old Pirate Resource Estimation February 2013. |
|---|---|---|---|---|---|
| Category | Tonnes | Gold Grade (g/t) (300g/t top-cut) |
Gold Grade (g/t) (uncut) |
Ounces Gold (300g/t top-cut) |
Ounces Gold (uncut) |
| Indicated | 889,000 | 8.19 | 8.93 | 234,100 | 255,300 |
| Inferred | 993,000 | 11.80 | 14.67 | 376,900 | 468,500 |
| Total | 1,882,000 | 10.10 | 11.96 | 611,000 | 723,800 |
*Note - totals may vary due to rounding. Refer press release 4[th] February, 2013 for full details.
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Appendix B – Resource Statement
| Buccaneer Higher Grade Zone Resource at 2g/t cut-off. | Buccaneer Higher Grade Zone Resource at 2g/t cut-off. | Buccaneer Higher Grade Zone Resource at 2g/t cut-off. | Buccaneer Higher Grade Zone Resource at 2g/t cut-off. | Buccaneer Higher Grade Zone Resource at 2g/t cut-off. | Buccaneer Higher Grade Zone Resource at 2g/t cut-off. | Buccaneer Higher Grade Zone Resource at 2g/t cut-off. | Buccaneer Higher Grade Zone Resource at 2g/t cut-off. | Buccaneer Higher Grade Zone Resource at 2g/t cut-off. | Buccaneer Higher Grade Zone Resource at 2g/t cut-off. |
|---|---|---|---|---|---|---|---|---|---|
| Category | Tonnes | Grade (g/t Au) top-cut |
Grade (g/t Au) uncut |
Ounces Gold top-cut |
Ounces Gold uncut |
||||
| Indicated | 2,261,000 | 3.39 | 4.17 | 246,200 | 303,000 | ||||
| Inferred | 3,573,000 | 3.75 | 4.56 | 431,100 | 523,500 | ||||
| Total | 5,834,000 | 3.61 | 4.41 | 677,300 | 826,500 | ||||
| Buccaneer Higher Grade Zone Resources at 1g/t cut-off. | |||||||||
| Category | Tonnes | Grade (g/t Au) top-cut |
Grade (g/t Au) uncut |
Ounces Gold top-cut |
Ounces gold uncut |
||||
| Indicated | 7,117,000 | 2.00 | 2.25 | 458,500 | 515,300 | ||||
| Inferred | 8,183,000 | 2.43 | 2.78 | 639,700 | 732,200 | ||||
| Total | 15,300,000 | 2.23 | 2.54 | 1,098,200 | 1,247,500 | ||||
| Buccaneer Bulk Tonnage Resource at 0.2g/t cut-off | |||||||||
| 0.2g/t cut off | Million Tonnes | Gold (g/t) | Million Ounces | ||||||
| Indicated | 34.0 | 0.64 | 0.702 | ||||||
| Inferred | 93.9 | 0.65 | 1.970 | ||||||
| Total | 127.9 | 0.65 | 2.672 |
*Note - totals may vary due to rounding. Refer press release 5[th] February, 2013 and 16[th] April, 2012 for full details.
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Appendix B – Resource Statement
Twin Bonanza Global Resource with Old Pirate and Buccaneer High-Grade Zone at 2g/t cut-off.
| Project | Cut-off | Tonnes all categories |
Grade (g/t Au) all categories |
Ounces gold |
|---|---|---|---|---|
| Old Pirate Trend | 1.0g/t (cut-off) |
1,882,000 | 10.1 | 611,000 |
| Buccaneer HGZ | 2.0g/t (cut-off) |
5,834,000 | 3.61 | 677,300 |
| Total | 7,716,000 | 5.19 | 1,288,300 | |
| Twin Bonanza Global Resource with Old Pirate and Buccaneer High-Grade Zone at 1g/t cut-off. | ||||
| Project | Cut-off | Tonnes all categories |
Grade (g/t Au) all categories |
Ounces gold |
| Old Pirate Trend | 1.0g/t (cut-off) |
1,882,000 | 10.1 | 611,000 |
| Buccaneer HGZ | 1.0g/t (cut-off) |
15,300,000 | 2.23 | 1,098,200 |
| Total | 17,182,000 | 3.10 | 1,709,200 |
*Note - totals may vary due to rounding. Refer press release 5[th] February, 2013 for full details.
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Appendix B – Resource Statement
| Hyperion Gold Project Resource Estimation without top-cut. | Hyperion Gold Project Resource Estimation without top-cut. | Hyperion Gold Project Resource Estimation without top-cut. | Hyperion Gold Project Resource Estimation without top-cut. |
|---|---|---|---|
| 0.8g/t cut off | Tonnes | Gold (g/t) | Ounces |
| Hyperion Central | 2,209,000 | 2.14 | 152,100 |
| Hyperion South | 768,000 | 2.71 | 66,800 |
| Total | 2,977,000 | 2.29 | 219,000 |
| 2g/t cut-off | Tonnes | Gold (g/t) | Ounces |
| Hyperion Central | 875,000 | 3.36 | 94,400 |
| Hyperion South | 272,000 | 5.37 | 47,000 |
| Total | 1,147,000 | 3.83 | 141,400 |
| Hyperion Gold Project Resource Estimation with 50g/t top-cut. | Hyperion Gold Project Resource Estimation with 50g/t top-cut. | Hyperion Gold Project Resource Estimation with 50g/t top-cut. | Hyperion Gold Project Resource Estimation with 50g/t top-cut. |
|---|---|---|---|
| 0.8g/t cut off | Tonnes | Gold (g/t) | Ounces |
| Hyperion Central | 2,209,000 | 2.06 | 146,600 |
| Hyperion South | 768,000 | 2.25 | 55,500 |
| Total | 2,977,000 | 2.11 | 202,200 |
| 2g/t cut-off | Tonnes | Gold (g/t) | Ounces |
| Hyperion Central | 875,000 | 3.17 | 89,100 |
| Hyperion South | 272,000 | 4.08 | 35,700 |
| Total | 1,147,000 | 3.38 | 124,800 |
*Note - totals may vary due to rounding. Refer press release 16[th] April, 2012 for full details.
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Appendix C – List of ASX Announcements
List of ASX announcements relating to technical results in this presentation. Please refer for intercept calculation method, resource estimation, assay results and sampling techniques etc.
11/11/2013 Trial Processing Accelerates at the Old Pirate Gold Project 08/10/2013 Trial Mining and Processing Update at Old Pirate 18/09/2013 Trial Mining and Processing Update at Old Pirate 04/09/2013 Processing of High-Grade Material Underway at Old Pirate 16/08/2013 Trial Mining Continues and Commissioning of Plant Underway 01/08/2013 Trial Mining Update at Old Pirate High-Grade Gold Project 03/07/2013 Trial Mining & Processing Update at Old Pirate Gold Project 12/06/2013 Trial Mining & Processing Update at Old Pirate Gold Project 29/05/2013 More High-Grade Gold in New Zones Near Old Pirate 29/04/2013 Bandit Trend Near Old Pirate with Samples to 108g/t gold 09/04/2013 More High-Grade Gold at Old Pirate 18/03/2013 Trial Mining Permit Received for Old Pirate Gold Project 05/02/2013 Buccaneer Higher Grade Zones Establish Growth Pathway 04/02/2013 Significant Upgrade for Old Pirate sets ABM for Trial Mining 26/11/2012 Old Pirate Western Limb Widens with High-Grade at Depth 19/11/2012 New High Grade Veins Uncovered at Surface at Old Pirate 16/11/2012 First Results from Old Glory 19/10/2012 OP Western Limb Extends with Surface Sampling av. 52.3g/t 09/10/2012 Extensional Exploration Results with Assays up to156g/t Gold 02/10/2012 Golden Hind Spectacular Drill Intersections 42m @ 44g/t 17/09/2012 High-Grade Discovery Confirmed at Golden Hind 17m @ 29.43g/t 05/09/2012 Old Pirate Test Work – Exceptional gravity Gold Recovery 20/08/2012 Exploration Update Golden Hind and New Prospect 06/08/2012 High Grade Gold results from the Golden Hind Discovery 02/08/2012 Old Pirate High Grade Drill Results 5m @ 52.27g/t gold 01/08/2012 High Grade Gold Drill Results at Buccaneer 16/07/2012 Phase 3 Surface Vein Sampling Extends Old Pirate
15/06/2012 New High Grade Vein Uncovered at Old Pirate 09/07/2012 Phase 2 Surface Sampling on East Side Vein 28/06/2012 New Prospect with Coarse Visible Gold at Surface 14/06/2012 High Grade Gold Drill Results Extend Buccaneer 15/05/2012 Old Pirate Stage 1 Scoping Study Results 03/05/2012 2012 Exploration Season Underway 16/04/2012 3.3 Million Ounces Gold in Resources
12/03/2012 Hyperion Drill Results show wide mineralised zones 07/03/2012 Latest Results Extend Eastern Contact Zone 28/02/2012 Hyperion Best Ever Intercept 35m @ 5.43 g/t Gold 08/02/2012 Old Pirate Trenching Extends to 726 metres @ 24.01g/t Gold 20/01/2012 ABM and Tanami Gold enter Memorandum of Understanding 20/01/2012 TAM: Tanami Gold NL and ABM enter MOU
19/01/2012 Impressive Drill Results from Buccaneer Porphyry 18/01/2012 Cypress Zone Drill Results [email protected]/t Au within [email protected]/t 5/01/2012 Old Pirate Trenching Update - 582m strike @ 23.98g/t Gold 23/12/2011 BRR -ABM extends high grade trenching results at Old Pirate 22/12/2011 Old Pirate Trenching Extends to 427m Strike @ 21.85g/t Gold 5/12/2011 Technical and Corporate Update Presentation 30/11/2011 Broadcast - MD talks Gold from the Old Pirate 29/11/2011 High Grade Old Pirate Phase 2a Trench Results 28/11/2011 Twin Bonanza Drill Results Extending Caribbean to Cypress 24/11/2011 Historic Access Agreement Signed for Lake Mackay Regional 24/11/2011 Lake Mackay Phase 1 Drill Results 09/11/2011 Drilling Commences at Hyperion 24/10/2011 Further Buccaneer Drill Results 13/10/2011 Old Pirate Trenching Combined Strike Length [email protected]/t Au
~~3~~ 8
Appendix C – List of ASX Announcements
List of ASX announcements relating to technical results in this presentation. Please refer for intercept calculation method, resource estimation, assay results and sampling techniques etc.
11/10/2011 Buccaneer Extension 26m @ 2.9g/t within 18m @ 4.05g/t Gold 27/09/2011 Drilling at Kroda Confirms Second Discovery Camp in the NT 12/09/2011 New Discovery at Cypress Prospect with 26m @ 5.53g/t Gold 07/09/2011 Old Pirate Northern Extensions Further High Grade Results 02/09/2011 Broadcast - ABM Gold Assays over 400 Grams per Tonne 31/08/2011 Old Pirate Northern Extensions High Grade Drill Results 24/08/2011 Drilling Commences at Lake Mackay Copper-Gold Targets 17/08/2011 Caribbean Zone and Buccaneer Deposit Significantly Extended 09/08/2011 Broadcast Spectacular Gold at Old Pirate Northern Extensions 08/08/2011 Spectacular Gold at Old Pirate Northern Extensions 01/08/2011 Further Extensional Buccaneer Drill Results 18/07/2011 Further Extensions at Buccaneer and New Porphyry Discovery 04/07/2011 New Sedimentary Hosted Oxide Gold Discovery at Twin Bonanza 20/06/2011 Drilling Commences at the Kroda Gold Project 17/06/2011 Broadcast -ABM hits New Gold Zone and Extends Mineralisation 16/06/2011 Further Success at Buccaneer - Discovery at Caribbean Zone 09/06/2011 First 2011 Drilling Extends Buccaneer 10/05/2011 Updated Investor Presentation 09/05/2011 Exploration Update Twin Bonanza Program Ahead of Schedule 27/04/2011 Extensional Drilling Underway at Buccaneer Western Zone 04/04/2011 Metallurgical Tests Reveal High Quality Ore - 99.5% Recovery 22/03/2011 Presentation - Twin Bonanza and 1.67 Moz Buccaneer Deposit 21/02/2011 Presentation - 1.67 Moz Gold - And We`ve Only Just Begun 21/02/2011 Maiden Resource Estimation for Buccaneer 03/02/2011 Twin Bonanza Gold Camp Expands to 30 Targets 31/01/2011 New Targets at Twin Bonanza Gold Camp
13/01/2011 Buccaneer Porphyry Delivers Impressive Results 11/01/2011 Drill Results from the Hyperion Gold Project 13/12/2010 Buccaneer Continues To Grow With Step Out Drilling 15/11/2010 2010 Old Pirate Drilling and Screen Fire Assay Program 04/11/2010 ABM adds second drill rig to NT exploration programs 18/10/2010 Step Out Drilling at Buccaneer Delivers Excellent Intercepts 22/09/2010 ABM Continues to Expand Buccaneer Gold Porphyry 13/09/2010 Best Intersection at Buccaneer - 202m grading 1g/t Gold 31/08/2010 Update Old Pirate High Grade Gold Prospect at Twin Bonanza 19/08/2010 Buccaneer Porphyry Gold Drill Results Double Vertical Extent 27/07/2010 Bonanza Grades at Old Pirate - 5 metres at 274 g/t Gold 12/07/2010 Drill Results - 35m at 6.35g/t Au inc 8m at 21.78g/t Au 07/07/2010 Exploration Update - Visible Gold at Old Pirate South 15/06/2010 Exploration Update from Twin Bonanza
24/05/2010 First Drill Results - High Grade Intercept Extends Sabre 13/05/2010 Samples Return 20.3% Copper and 271 g/t Silver 27/04/2010 ABM Resources Announces the Commencement of Drilling 16/04/2010 Presentation - The Big 8
31/03/2010 Newmont Transaction Complete - Prioritising 8 Discoveries 16/03/2010 Kroda Gold Project - 6 Metres at 25.9g/t Gold 09/03/2010 Hyperion Gold Project with 60 m at 2.57 g/t Gold 02/02/2010 The Old Pirate High Grade Gold Project
01/02/2010 Detail on the Twin Bonanza Porphyry Gold Project 28/01/2010 Acquisition of Advanced Gold Prospects from Newmont 18/01/2010 Exploration Update for Reynolds Range Project Area 07/01/2010 ABM Provides Exploration Update for Lake Mackay Project
39