Group Annual Report for Exploration Licences EL 26628 and EL 29828 GR386 Tanami Altura JV Project from 1 March 2015 to 28 February 2016

Abstract

Exploration Licences 26628 and 29828 form ABM Resources N'sL (ABM), 'Tanami Altura JV' project which is located approximately 600 km north-northwest of Alice Springs in the north Tanami Region of the Aileron Province (Figure 1). In June 2015 ABM entered an option agreement with Altura Exploration Pty Ltd. (Altura) which provided for ABM to acquire a 90% interest in ELs 26628 and 29828 and establish a joint venture with ABM as manager. ELs 26628 and 29828 are highly complementary to ABM's existing adjoining ABM's Twin Bonanza Project tenements as they represent under explored and analogous geology to the region's major gold deposits in the Trans-Tanami Structure Zone. On 11 March 2016 the amalgamated technical reporting for the 'Tanami Altura JV' project was approved and the group reporting ID GR386 was assigned. ABM is exploring the 'Tanami Altura JV' project for the potential of gold mineralisation. Exploration consisted of desktop studies including regional mapping and target generation by ABM. No on - ground exploration was conducted during the reporting period neither by Altura nor by ABM. The mapping resulted in a regional basement geology map scaled 1:500,000 which included the project area. The map represents a merger of NTGS and ABM interpretation at this scale. The desktop studies recommended for EL 26628 reconnaissance mapping and a standard soils/rock (Au) and XRF (As, Pb and Cu) program covering the all prospects (Suzaku, Byakko, Genbu, Seiryu and Blue Hart) followed by a low detection limits geochemistry program in areas returning elevated assay results. An ABM Deep Penetrating Geochemistry (DPG) soil sampling program totalling 455 points on 500m centres has been designed for untested ground in the south eastern part of EL 29828 to test the range of discontinuous linear magnetic features.