GBM Resources (ASX: GBZ) has announced ‘excellent’ assay results following the first two diamond core drill holes at the 309 deposit within its flagship Twin Hills Project.
The results have confirmed higher gold grades than predicted from the current Mineral Resource Estimate, with assays returning results up to 21.75g/t Au. Key grades include:
- Hole 309DD22001: 162m @ 2.65g/t Au from 69m
- incl. 16m @ 13.49g/t Au from 187m
- Hole 309DD22002: 79m @ 1.09g/t Au from 131m
- incl. 7m @ 4.41g/t Au from 152m
- Hole 309DD22002: 2m @ 21.75g/t Au from 301m
Addressing the results, GBM Resources Managing Director and CEO, Peter Rohner said: “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.
“Excellent assay results from GBM’s first two drill holes at Twin Hills demonstrate the quality of the 309 resource”
It is very pleasing to see better than anticipated grades and together with the recent Twin Hills resource upgrade, GBM is continuing to move forward becoming a genuine mid-tier Australian gold company. We look forward to providing additional results in the coming weeks.”
GBM notes that these results highlight the potential to expand the deposit, as well as ‘greatly’ increasing the grade of the resource in the area.
The Twin Hills Gold deposit is located in north-east Queensland with GBM acquiring 100% of all tenements in mid 2021.
The company had recently announced an upgrade to the Mineral Resource Estimate for the 309 deposit to 12.9Mt @ 1.8g/t Au for 760,700 oz Au, a 20% upgrade in contained ounces of gold since purchase.
With the current diamond drill campaign still ongoing, GBM reports that it will move forward with further drilling at the nearby Lone Sister Deposit.
Images: GBM Resources Limited
