Ann: Quarterly Activities and Cashflow Report, page-2

G'Day all
Seems like an open & transparent quarterly update to me.

Some additional info included to update the market & holders.

1) 3,952 metres of reverse circulation (RC) program has been completed at Seuss
subsequent to quarter end- an additional line of drilling was added to the program extending
the strike length tested to 400 metres.
Results obviously pending.

2) Diamond drilling is scheduled to commence on the Homestead target in late April
Imagine since its late April its on the cusp of commencing.

3) More than 10,000 metres of RAB drilling planned to test multiple targets at the
Suplejack and Bluebush projects-
Plenty of recon-discovery scope in 10,000 mts of RAB drilling.

4) Uploading of previous generated data is continuing with an additional 406,000 surface
and 70,000 drill hole records loaded this quarter.
Would take awhile to input this data manually, it would seem there is even more
data than 1st thought, would imagine it helps the Geo's no end in making assesments
& exploration determinations.

Lake Mackay JV1
5) Negotiations are continuing with the Central Land Council with no agreement yet​

reached to gain access to tenements which are currently in application.

This one is disappointing that an agreement has thus far not been reached,
although as stated YET-gives strong indication that inline with expectation
negotiating is continuing, my understanding is once an agreement  is reached
with the Central Land Council -the N.T. Mines Department can then issue
permit of work - full access to ABU's tenement applications.

This should not prevent Grapple being drilled this exploration season as
this tenement is the only one exploration can continue on until an agreement
is reached with the CLC.
Investors are aware exploration ending last season on this deposit appeared
stella as a refresher some associated data & comments below.

With Grapple strike length at 300 mts & it having been determined that the DHEM-(Down Hole Electromagnetic interpretation)-suggests 16GRRC011 drilled above the main conductor
and that the centre of this conductive body is further to the west & continues at depth.
So the most Western hole drilled it seems is still East of the centre, so if the centre is another say
100 mts to the West & we already have 300mts of strike then that's 400 mts from the Eastern Edge
to the suggested centre through DHEM -(put down the completed drill hole  for assessment).

So what springs to mind is if the Western edge was the same distance from centre as the Eastern
then you have 700-800 mts , why is this important-well its all about continuity of mineralisation
is we get continuity of multi-elements at commercial grades with thick intersections -then BOOM.
Clearly its early day's at Grapple, but all indications thus far appear stella.
Watch this one carefully this exploration season as its potential is obvious.

This is some of the Significant results from the 26 intersections of Cobalt from grapple
drill results -for comparison with the below chart below.
1mt at 1..71%,-5mts at 0.25%,-9mts at 0.26%,-6mts at 0.15%,-3mts at 0.20%,
-9mts at 0.07%, - 5mts at 0.19%,4mts at 0.07%,10mts at 0.09%,imt at 0.11%,
-2mts at 0.09%1mt at 0.15%, - 1mt at 0.14% , 2mts at 0.16%
As an overview for Cobalt percentage per tonne comparisons see below
the ASX Listed companies ranked by contained Cobalt.




IGO our J.V. Lake Makay- partner's own exploration program is looking very promising
indeed, lets see what really is beneath Grapple this forth coming exploration season.

So therefore hole 16GRRC011 - Multiple additional intersections at the Grapple Prospect
including-6MTS at 8.98 G P/T Gold,23.5g p/t Silver, 1.45% copper, 1.40% zinc,
0.26% lead and 0.15% cobalt is the most western hole drilled & has been identified as still being
east of this conductive body that continues westward & at depth.
This mineralisation has been confirmed as already having a strike length  of 300mts
that remains open at depth & in an easterly & westerly direction.

Potential iceberg beneath ? actual size is yet to be determined & is likely to be a lot
larger than what has been determined thus far.
See below image & hole 16GRRC011 & its position relative to above comments
IGO our J.V. Lake Makay- partner's own exploration program is looking very promising
indeed, lets see what really is beneath Grapple this forth coming exploration season.


See below image & hole 16GRRC011 & its position relative to above comments.



So therefore hole 16GRRC011 is the most western hole drilled & has been identified
as still being east of this conductive body that continues westward & at depth.
This mineralisation has been confirmed as already having a strike length  of 300mts
that remains open at depth & in an easterly & westerly direction.
Potential iceberg beneath ? actual size is yet to be determined & is likely to be a lot
larger than what has been determined thus far.

Step out drilling Westward at 100mt intervals would help determine this deposits actual
size & give indication of volumes involved, although its all exploration with no guarantee's
ABU is an exploration company & this is the sort of deposit we as investors are closely
monitoring- its one step at a time -look forward to diamond drilling determining the
potential of actual depth extensions'.
Grades are already good commercial grades & multi-element mineralisation has been
confirmed over a strike length of 300m and remains open down dip and along strike to
the westand 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.
Investors & the market is watching this one closely.
We look forward to Grapples intended drilling exploration program being
released to market.
Ref-ASX ann 20 December 2016-
Exploration Update – Grapple Prospect Drill Intersections.
imo-glth
salt​