- GBM Resources (GBZ) enters a trading halt ahead of a capital raise
- Trading of GBZ shares will be paused until Friday, September 9, or until the company releases further details about the funds it is looking to raise
- Whilst it is not yet known where the funds will be directed, GBM confirmed mineralisation extensions from drilling at the 309 deposit, within its Twin Hills gold project in Queensland last week
- The company says the results build on previous intersections and confirm the high potential to increase the resource at the deposit
- Shares in the company last traded at 5.7 cents each on September 6
GBM Resources (GBZ) has entered a trading halt ahead of a capital raise.
Trading of GBZ shares will be paused until Friday, September 9, or until the company releases further details about the funds it is looking to raise.
Whilst it is not yet known where the funds will be directed, GBM Resources confirmed mineralisation extensions from drilling at the 309 deposit, within its Twin Hills gold project in Queensland last week.
One hole intersected 40 metres at 3.12 grams per tonne (g/t) gold from 399 metres, including higher grade hits of two metres at 3.44 g/t gold from 399 metres and 28 metres at 4.07 g/t gold from 408 metres.
The company said the results build on previous intersections and confirm the high potential to increase the resource at the deposit.
It planned to review all geology from the 309 and Lone Sister deposits to build a new geological model for further targets.
Shares in the company last traded at 5.7 cents each on September 6.