GBM hits thick, high-grade gold outside current 309 deposit

GBM has already seen some great drill results at its Twin Hills project, however the latest assays really take the cake with a top 49m intersection grading 5.18g/t gold.

Adding further interest, this top hit in hole 309DD22005 from a depth of 250 to 300m from surface – and its standout intersection of 1m at 129.39 grams per tonne (g/t) gold with visible gold – is located outside the current 309 deposit resource of 500,600oz of gold in a poorly drilled section.

This highlights extremely strong potential for GBM Resources (ASX:GBZ) to expand the deposit to the west and upgrade resources.

Other notable results such as 148m at 1.11g/t gold from 26m in 309DD22003 add further weight to the potential for open pit mining at the 309 deposit.

“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,” managing director Peter Rohner said.

“It is very pleasing to start to see significant high-grade intersections outside the existing resource model that remain open along strike.

“This drilling provides clear evidence for GBM to expand the 309 Deposit resources again following this drill program.”

Resource upgrade in the post

The assay results continue the excellent results seen in the assays from the first two holes of 162m at 2.65g/t gold from 69m and 79m at 1.09g/t gold from 131m, which were higher grade than anticipated.

Hole 309DD22003 intersected mineralisation comparable to surrounding drill holes and the estimated resource grade while hole 309DD22004 intersected slightly lower grades than anticipated in a narrow zone.

GBM noted though that 309DD22005 might indicate that mineralisation quality improves towards the north.

Silver assays have also been reported for the first two holes with a top result of 9m at 68.8g/t silver from 96m in 309DD22001 (with 9.45g/t Au) showing clear high silver mineralised veins.

This article was developed in collaboration with GBM Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.