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- GBM has intersected high-grade mineralisation outside resource estimate.
- Mineralisation proves continuity of significantly higher-grade zones.
- Three drill rigs now operating across Lone Sister.
GBM Resources (ASX:GBM) is off to a strong start to its 50,000-metre stage two drilling program at Lone Sister within the company’s Twin Hills gold project in Queensland, having already landed multiple high-grade hits.
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Assays from the first three holes have confirmed drilling has intersected high-grade mineralisation outside the existing mineral resource estimate.
Highlight hits from hole LSDH004 in current drilling at Lone Sister include 22 metres at 3.65 grams per tonnes (g/t) from 149 metres, 10 metres at 6.2 g/t from 150 metres and five metres at 2.39 g/t from 163 metres.
Hole LSDH005 returned 115 metres at 1.69 g/t from 73m, including four metres at 9.15g/t Au from 159m, and 16 metres at 5.50g/t from 167m.
The ongoing multi-phased program follows the receipt of outstanding results from the stage one program, which included 52m at 2.77 g/t from 299m at the Lone Sister target and 37m at five g/t from 225m at the 309 prospect, demonstrating the significant growth and scale opportunity at Twin Hills.
CEO, Daniel Hastings, told shareholders three drill rigs are now operating across Lone Sister and 309 as part of strategy to materially grow MRE at Twin Hills.
“It is particularly exciting to see LSDH005 intersecting 16m at 5.50 g/t gold against a current MRE grade of one to two g/t gold in this area, supporting both continuity of higher-grade zones within the deposit and the potential to contribute both additional ounces and an uplift in overall resource grade,” he said.
“The initial stage two results clearly demonstrate the broader scale opportunity at Twin Hills, and with three drill rigs now operating across Lone Sister and 309, we look forward to further results that continue to demonstrate continuity of higher-grade zone, extensions to mineralisation and resource growth potential ahead of an updated Twin Hills MRE later this year.”
Updated geological models have refined the controls on mineralisation and identified multiple opportunities to expand the existing estimate.
“The stage two program has been designed to systematically grow scale, improve grade confidence and unlock development optionality across the project,” Mr Hastings told shareholders this week.
Drilling will prioritise the definition and expansion of near-surface mineralisation suitable for open-pit mining, supporting future prefeasibility study work.
GBM will open at 3¢. Mkt cap $147.2M.
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