GBM Resources (ASX: GBZ) has recorded broad intervals of gold mineralisation from an initial ~7,000m diamond drill campaign at the 309 Deposit within its flagship Twin Hills Project.
The results highlight the potential for open-pit mining at 309, with significant intersects including:
- Hole 309DD22003:
- 148m @ 1.11g/t Au from 26m, incl.
- 6m @ 3.21g/t Au from 35m
- 15m @ 3.96g/t Au from 118m
- 21.2m @ 1.6g/t Au from 182.8m, incl.
- 7m @ 3.38g/t Au from 193m
- 148m @ 1.11g/t Au from 26m, incl.
- Hole 309DD22004:
- 13m @ 1.87g/t Au from 416m, incl.
- 4m @ 5.31g/t Au from 417m
- 13m @ 1.87g/t Au from 416m, incl.
- Hole 309DD22005:
- 49m @ 5.18g/t Au from 310m, incl.
- 2m @ 66.19g/t from 326m
- 9m @ 5.07g/t Au from 337m
- 4m @ 11.73g/t Au from 352m
- 49m @ 5.18g/t Au from 310m, incl.
The company notes that the majority of the 49m @ 5.18g/t Au intercept reported in 309DD22005 is located outside of the current 309 Mineral Resource Estimate, providing potential to expand the deposit to the west.
Addressing the results, GBM Managing Director and CEO Peter Rohner said: “Excellent assay results continue to be received for GBM’s first drill program at Twin Hills with numerous high-grade intersections in the first five holes.
“Excellent assay results continue to be received for GBM’s first drill program at Twin Hills with numerous high-grade intersections in the first five holes”
It is very pleasing to start to see significant high-grade intersections outside the existing resource model that remain open along the strike. This drilling provides clear evidence for GBM to expand the 309 deposit resources again following this drill program. We look forward to providing additional drill results in the coming weeks.”
GBM also reports that hole 309DD22005 returned a peak result of 1m @ 129.39g/t Au from 327m with visible gold, while hole 309DD22003 continues to highlight the open pit mining potential of the 309 deposit with near-surface material.
In addition, the results line up with previously-reported silver assays, with hole 309DD22001 demonstrating higher-grade silver veining of 68.8g/t Ag from 96m.
The Twin Hills Project is located in Western Australia’s Eastern Goldfields and covers a total footprint of 1,102km², with GBM owning 100% of all associated tenements.
The project boasts a Mineral Resource Estimate of 12.9Mt @ 1.8g/t Au for 760,700 oz gold and is a major component of GBM’s Drummond Basin Strategy which is targeting 2 Moz+ gold.
With the initial drill program at Twin Hills now complete, the company has announced that it will move forward with a 14-hole, ~7,000m drill program at the nearby Lone Sister Deposit while additional 309 drill results are awaited.
Images: GBM Resources Limited
