Concept Study
ABA Resources has completed its Concept Study, drawing upon a wealth of historical work and technical information. This study encompasses an execution plan for the phased development of ABA's Glen Wills and Cassilis properties, both being wholly owned and situated in the Omeo Valley, eastern Victoria, Australia. The two properties are located approximately 75km from one another and both feature significant historical mining and include substantial mullock and tailings dumps independently estimated to contain sufficiently high tonnage and grades to support economically viable independent processing operations.
The staged development plan derived from the Concept Study presents a robust project that falls well within ABA's development capabilities. In total, over an 18-year mine life, the project concept estimates a production of 421koz of gold. At a gold price of A$2400/oz, the project is projected to generate $395 million in pre-tax net cash flows, considering all capital expenditures. Recognizing the potential for further resources, ongoing exploration drilling is planned in promising areas. It is important to note that the Concept Study is inherently conceptual, and its conclusions are indicative only. To validate the indicated results, a substantial body of additional technical work will be required.
Work Plan
Whilst this has been taking place our Team has been working on the development of a comprehensive Work Plan on MWGM. This plan capitalizes on the vast wealth of knowledge and insights gained through the extensive groundwork conducted by MWGM thus far. Statistical analysis was completed on high-grade intersections (including analysis of multi-element assays) at Maude and Sunnyside which demonstrated the potential to define high-grade zones in discrete targets. In particular, our attention will be centred on the strategic drilling of a new Adit close to Adit 5, enabling us to strategically target the high-grade shoots that have been expertly identified by Mining Plus. Our studies conducted thus far have indicated that the construction of this new Adit holds immense promise, as it has the potential to provide us with access to highly prospective zones that could be viable for near-term mining operations. With these exciting prospects ahead, we are eager to leverage our findings and advance towards our mining objectives with confidence and determination.
Metalurgical Test
Mt Willd Gold Mine
Metallurgical analysis of previous work has been undertaken. This has uncovered highly significant results from a Gekko program completed in 2003. That program delivered a 89%gravity only gold recovery from Maude ore with fine grinding. Gravity only processes use no chemicals and have very favourable environmental impact.
Ultramag
Deep Ground Penetrating RADAR (DGPR) – completed BY ULTRAMAG GEOPHYSICS.
This is a report is a first-pass, brief interpretation of DGPR data (Ultramag intermediate processing suite option requested by the client). No geological information was used.
10 line km was acquired over 5 days with sub-meter shot spacing in a bid to include the mapping of very thin (sub meter) quartz veins.
The DGPR worked extremely well despite challenging deployment terrain. Minimal airwave noise was recorded despite thick vegetation indicating excellent ground coupling.
Images are extremely high resolution in the top 50m and good results were achieved to 100m depth.
The following anomalies have been interpreted:
- 73 quartz veins (range of thicknesses). 2 of these are in known, old mine workings. These anomalies are typically near-vertical and some may represent shear zones.
- 17 “slots” that are likely deeper quartz veins and/or shear zones.
- 7 faults
- 6 old mine workings
- 1 dome
- 1 paleo channel-like feature
Note that some of these anomalies may be the same geological feature detected on separate lines. A plethora of folding was also imaged. This may also be a useful exploration tool.
JORC
- A JORC Mineral Resource Estimate of 319,500 oz of gold at Mt Wills under JORC 2012 Code guidelines provided by PT Green Gold Technology in 2019. This is made up of 181,670oz (1.42 million tonnes at 3.99g/t) at Mt Wills itself and a further 137,850oz (1.06 million tonnes at 4.06g/t) estimated at neighbouring Sunnyside;
- As a subset of this Mining Plus has provided ABA with an indication of high-grade resource potential which is stated at 170koz @ 16.6g/t;
- New internal (non-JORC) high-grade resource completed for MIN4921 by Cube Pty Ltd. New internal resource (non-Jorc) estimated at 1.5g/t cut-off shows 450,000oz at 4.5g/t across Sunnyside and Maude. Importantly, the high-grade estimation (8g/t cut off) shows 75,000oz at 11g/t. (MIN4921)