The name change will reflect its renewed strategic direction and focus on its high-quality gold exploration targets in the Northern Territory's Tanami region where it aims to accelerate testing.

The change will take effect after the Australian Securities and Investments Commission alters the ABM's registration details in the coming weeks, with the ASX listing code changing to PRX.

ABM recently signed a non-binding agreement with Newcrest to advance exploration at the Euro project in the Northern Territory.

It said the agreement was consistent with its strategy to retain a 100% interest in its highest priority projects and attract partners to other prospective areas.

It is carrying out aircore drilling of five large-scale target areas within an 8km-long gold anomaly at the Capstan prospect, and expects first results later in May.