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ABM Resources update on the Lake Mackay JV exploration project

ABM Resources NL has provided an update on activities with the Lake Mackay Joint Venture being managed by Independence Group NL.

ABM Managing Director Matt Briggs said: “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. The granting of tenements in the last quarter of 2017 has unlocked a large area for on-ground exploration. The previous exploration was limited to EL24915 representing only 4% of the project area. The program planned for 2018 has 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 are encouraging at this very early stage. The soil gold anomaly has coincident silver, copper, cobalt, and zinc responses.”

The Lake Mackay Project is located 400km northwest of Alice Springs, adjacent to the Western Australian border, and includes 12,833km2 of exploration licences and applications. This emerging mineralised belt at Lake Mackay is at a very early stage of exploration. IGO is executing an exploration program as part of a joint venture with ABM to systematically evaluate the Lake Mackay Project.

The Project has a consolidated tenure over the favourable Proterozoic margin between the Aileron and Warumpi Provinces and is characterised by a continent-scale geophysical gravity ridge and the Central Australian Suture. The JV partners consider that the exploration potential will unlock a new metallogenic province hosting multiple styles of precious and base metals mineralisation.

Results were received from the soil sampling program completed in October-November 2017. Multielement anomalism was identified in the area northeast of the Bumblebee/Grapple Prospects. The area was anomalous in Au, Ag, As, Bi, Cu, Co, Pb and Zn. A >2 ppb Au 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.

SpectremAir has 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. These 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.