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- GBM Resources (GBZ) intersects up to 21.75 g/t gold from the first two holes of its maiden drill program at the 309 deposit in Queensland
- The company is drilling 17 diamond holes to confirm historical drilling results and data as well as infill areas of lower drill density
- To date, six holes have been drilled, with results received for two and grades peaking at 21.75 g/t gold and 13.49 g/t gold
- The results confirm a large near-surface bulk mineable-style gold deposit at 309 with higher gold grades returned than predicted
- Shares in GBM are steady on the market and are trading at 15 cents
GBM Resources (GBZ) has intersected up to 21.75 g/t gold from the first two holes of its maiden drill program at the 309 Deposit.
The 309 deposit is situated within the company’s flagship Twin Hills 6679982 project in north Queensland.
GBM is drilling 17 diamond holes, for 6840 metres, at Twin Hills to confirm historical drilling results and data as well as infill areas of lower drill density to upgrade resource confidence.
To date, six of the 17 holes have been drilled to the east to confirm existing grades, upgrade the confidence and test the down plunge extensions of the mineral resource estimate (MRE).
Results have been received for holes 309DD22001 and 309DD22002 with both intersecting broad intervals of gold mineralisation, highlighting the potential bulk mineable style at the 309 Deposit.
Results from hole 001 include 162 metres at 2.65 g/t gold from 69 metres including nine metres at 9.45 g/t gold from 96 metres and 16 metres at 13.49 g/t gold from 187 metres.
Results from hole 002 include eight metres at 5.76 g/t gold from 300 metres including two metres at 21.75 g/t gold from 301 metres, and 79 metres at 1.09 g/t gold from 131 metres including seven metres at 4.41 g/t gold from 152 metres.
The results confirm a large near-surface bulk mineable style gold deposit at 309 with higher gold grades returned than predicted.
“Excellent assay results from GBM’s first two drill holes at Twin Hills demonstrate the quality of the 309 resource. The recent acquisition of the Twin Hills project was transformational for GBM,” CEO and Managing Director Peter Rohner said.
“It is very pleasing to see better than anticipated grades and together with the recent Twin Hills resource upgrade, GBM is continuing to move toward becoming a genuine mid-tier Australian gold company.”
Shares in GBM were steady on the market and were trading at 15 cents at 10:30 am AEST.
