Annual Report EL 23655 Lander Reynolds Range Project from 12 June 2014 to 11 June 2015

Abstract

The ABM Resources NL (ABM) Reynolds Range Project is located approximately 230 kilometres northnorthwest of Alice Springs in the western Arunta region (Figure 1). ABM explores EL 23655 for the potential of gold and base metal mineralisation as part of the Reynolds Range project together with EL 23888 and EL 28083. In November 2013 ABM reached an agreement with Clancy Exploration Ltd (Clancy) whereby Clancy had the option to acquire 100% of ABM's interests in the North Arunta Regional Projects, which EL 23655 forms part of. In September 2014 Clancy announced that it was unable to fulfil the capital raising condition precedent. Exploration during the year included a geophysical review and a valuation of ABM's North Arunta Package by Clancy and a field reconnaissance trip including XRF measurements by ABM. At the Mt Stafford tin workings, five XRF readings were taken from rocks, which showed elevated levels of tin, but nothing significantly high to warrant further work at the time. At Trout, eleven XRF soil readings were taken to follow up on a historic assay result of 104 ppm gold from a rock sample, and a 29 ppm gold value from a costean sample. Some moderately increased arsenic results were identified and further soil sampling or shallow drilling will be required to assess whether the historic results were valid and worth following up.