GBM Resources (AZX:GBZ) reports ‘excellent’ results from the initial 7,000m diamond drill program at the Twin Hills Project’s 309 gold deposit in Queensland.
GBM reports drilling is rapidly advancing with 15 of the planned 17 holes now completed and the remaining two holes on hold pending assay results.
A drill program of 14 holes for 7,000m at the nearby Lone Sister deposit is also planned.
GBM’s initial drill program at Twin Hills is designed to confirm historic drilling results and data, infill areas of lower drill density drilling to upgrade resource confidence, and provide an initial test of extensions to mineralisation outside of the current resource boundaries.
Commenting on the results, GBM Managing Director Peter Rohner said: “Drilling at Twin Hills continues to discover additional high-grade gold mineralisation adjacent to the known resources and in this instance higher up in what is likely to sit inside an open pit shell.
Drilling at Twin Hills continues to discover additional high-grade gold mineralisation
The resource geological model is currently being updated and once all the drilling results from the phase 1 program are received, the 309 mineral resource estimate will be updated (later Q3 2022).”
The 309 deposit assay results have shown the best intersections of 56m @ 2.8 g/t Au from 121m in 309DD22013 and 78m @ 1.31 g/t Au from 249m in 309DD22014.
These results build on previously reported outstanding results of 162m @ 2.65 g/t Au from 69m in 309DD22001, 148m @ 1.11 g/t Au from 26m in 309DD22003, 49m @ 5.18 g/t Au from 310m in 309DD22005, 152.1m @ 1.16 g/t Au from 47.9 m in 309DD22006, and 186m @ 1.77 g/t Au from 47m in 309DD22007 and other recent results.
GBM Resources is a well-funded Queensland based mineral exploration and development company focused on the discovery of world-class gold and copper deposits in Eastern Australia.
It has a ‘high-calibre’ project portfolio, hosting district scale mineral systems, located in several premier metallogenic terrains.
The company’s 100% owned flagship project in the Drummond Basin (QLD) currently holds about 1.6Moz of gold in JORC resources (Mt Coolon, Yandan, and Twin Hills).
GBM’s 309 and Lone Sister deposits, which form Twin Hills, are situated some 7km apart and have previously been interpreted as intrusion related, high-gold fineness, low sulphidation epithermal gold deposits in the western arm of the Drummond Basin.
Images: GBM Resources Limited
