Ann: Exploration Update Grapple Prospect Drill Intersections, page-2

ASX ANNOUNCEMENT / MEDIA RELEASE ASX:ABU
20 December 2016
Exploration Update – Grapple Prospect Drill Intersections
ABM Resources NL (“ABM” or the Company) is pleased to provide all drill results for the Grapple
Prospect on the Lake Mackay Joint Venture (“JV”) being managed by Independence Group (“IGO”).
Highlights
• 18 RC hole program completed at EL24915 as part of the reconnaissance drilling program on
the Lake Mackay Project
• All results are now available from the Grapple Prospect with anomalous mineralisation
intersected in 8 out of 11 holes
• Multiple additional intersections at the Grapple Prospect including 6m at 8.98 g/t gold, 23.5
g/t silver, 1.45% copper, 1.40% zinc, 0.26% lead and 0.15% cobalt​

• Downhole EM interpretation suggests the modelled

Current Lake Mackay RC Drilling Program
An 18 hole reverse circulation (RC) drilling program was completed on EL24915 in November 2016.
This included 11 holes at the Grapple Prospect, 3 holes at the Springer Prospect and 4 holes at the
Prowl Prospect (Figure 2). Additional holes that were planned at Prowl, were not completed due to
the requirement to demobilise the rig before a large weather front hit the area.​

1IGO is earning 70% interest in ABM’s Lake Mackay tenements by solely funding $6 million of exploration expenditure (ASX 6 May 2016).

Drilling results are now available for all holes completed at the Grapple Prospect. Mineralisation has
been confirmed over a strike length of 300m and remains open down dip and along strike to the west
and east. Mineralisation is a multiple sulphide assemblage within a metasedimentary package that is​

in close proximity to low-K tholeiitic amphibolites of the Dufaur suite.

Significant intercepts are summarised in Table 1. Downhole widths are provided. The geometry of the
mineralisation is not yet well understood given the preliminary stage of the program however, holes
16GRRC007-16GRRC011 were drilled towards the south and are considered to provide a better
representation of the true width. Drill holes 16GRRC001-16GRRC006, were likely drilled oblique to the
mineralisation



The remaining assay results from the Springer and Prowl prospects are expected by the end of
December 2016. No massive sulphide mineralisation was identified at either of these prospects. To
date IGO is only testing the initial anomalies identified from areas which are effective for soil sampling​

on 7% of the JV prospective tenure.

The success of intersecting mineralisation from the limited programs completed to date
supports the concept generated from continental-scale targeting that the Lake Mackay
Project could represent an emerging new metallogenic province.

Matt Briggs
Managing Director​

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