Ann: Broadcast - ABM identifies new high grade go, page-14

re: Ann: Broadcast - ABM identifies new high ... fmx,

“OPRC100021. The 1metre interval was 231 to 232 metres. Looks around 200ms below surface from the cross section showing the drill hole and intersection.
6ms @140g/t with 2ms @413g/t is an excellent hit but it’s not our best hole.

I’m not sure if this one was our best either but it’s another beauty and was just 61ms down hole;
150ms to the south we had; OPRC100005 which intersected 5 metres averaging 274g/t gold from 61ms and 1m at 1360g/t –that’s 43.7oz per tonne (ann 27/07/2010).
One tonne from that intersection is worth $70,000.
Let’s hope we find a few more of those this season.
You can top cut these results out of your jorc, but when you mine it, that $70,000 from each tonne of that ore still goes into the bank account.
I think we have more than enough very high grade surface samples to make it obvious the very high grades will not be that rare so top cutting understates what we will mine.

Other good hits as far back as July 2010 (not as exciting but still very high grade over the widths)
12 July 2010
35 metres grading 6.35g/t Gold from 22m including
17 metres grading 12.73g/t Gold or
8 metres grading 21.78g/t Gold

I have looked back and it appears clear to me that we have concentrated our efforts on surface sampling. We have had just 10,000ms of drilling from memory and that is not going to come close to finding all the gold even in our jorc resource. I think as we infill to convert more areas to indicated we will see a decent upgrade to contained ounces.
This has been an excellent strategy as the 3plus tonnes of sampled veins give a much greater reliability of average gold grade than you could get with drilling but the limited drilling confirms high grades to at least 250ms.
It appears to me we still have at least 1-2 years to trench the best areas to extend the surface footprint.
This year we are targeting 3kms of trenching (2kms done so far pending assays) out of 5kms of mineralised veins.
They are just the ones we know of.
There are going to be plenty more undercover to be found with drilling.
For those that are not satisfied with that much upside;
A full 1km north of the current area of interest we hit [email protected]/t inc [email protected]/t with a blind drill hole (no surface veins in this area due to cover).
Perhaps after we are done on the surface we can concentrate more on the drilling which also will take years to get any real idea on what we have even just down to 250ms let alone deeper.
Many underground miners would love to have the 565,000 at 10.5g/t (uncut) that we have starting on surface (70% of that resource in top 100ms) and that’s just our maiden resource!
Beats me why we haven’t had a takeover attempt yet from a mid sized miner with less resource and much higher market cap than we have. I thought the same about other stocks in the past which did eventually get taken over but it often amazes me how the acquirers often wait for much higher prices before making their moves. Some would argue they want to minimise risk but these guys must be in a position to judge what a high grade deposit is worth.
I think with ABU it may be a case of still flying under the radar.
This years season may change that quite a bit.