Gold explorer ABM Resources NL (ASX:ABU) has defined a 3.2km strike length zone of anomalism at the Lake Mackay Joint Venture, 400km northwest of Alice Springs adjacent to the Western Australian border.
A soil sampling program completed in October-November 2017 identified multielement anomalism in the area north east of the Bumblebee/Grapple Prospects at the project, which is managed by Independence Group.
The area was anomalous in gold, silver, copper, cobalt, lead and zinc. A greater than 2 ppb gold response was detected on 5 adjoining sample lines, giving a 3.2km strike length to this zone of anomalism. The soil response is similar in style to that overlying the Grapple Prospect.
Meanwhile, SpectremAir have completed flying an orientation airborne EM survey based out of Uluru. This trial is the first of two to be completed with separate airborne EM systems. The second system is now expected to be flown later this quarter.
The trials are aiming to test the effectiveness of two of the best fixed-wing airborne EM systems on the known conductors at Grapple, Bumblebee and Springer.
The optimal system will be selected to complete an extensive survey of the prospective areas of the Lake Mackay Project in the first half of 2018.
The orientation airborne EM survey at Grapple, Springer and Bumblebee aims to optimise the system to be used to screen the broader target corridor at Lake Mackay,” ABM Managing Director Matt Briggs said.
“The granting of tenements in the last quarter of 2017 has unlocked a large area for on-ground exploration. Previous exploration was limited to EL24915 representing only 4% of the project area.
He said the program planned for 2018 had the potential to rapidly and cost effectively identify additional Grapple and other style targets on the remainder of the Lake Mackay Project.
“The new soil anomaly is substantially larger than previously defined over Bumblebee and Grapple. The size and amplitude of this anomaly is encouraging at this very early stage. The soil gold anomaly has coincident silver, copper, cobalt, and zinc responses.”
The Lake Mackay Project includes 12,833km2 of exploration licences and applications.
Independence Group is executing an exploration program as part of a joint venture with ABM
to systematically evaluate the Lake Mackay Project.
Shares in ABM closed 7% higher at 7.5c in Tuesday trading.