Initial results from diamond drilling at GBM’s Twin Hills project in the Drummond Basin, QLD have reinforced the potential of the 309 gold deposit to be a large, near-surface bulk mining play.

The first two holes returned outstanding assays of:

  • 162m grading 2.65 grams per tonne (g/t) gold from a down-hole depth of 69m including 16m at 13.49g/t gold from 187m (309DD22001); and
  • 79m at 1.09g/t gold from 131m including 7m at 4.41g/t gold from 152m and a separate 2m interval grading 21.75g/t gold from 301m (309DD22002).

Significantly for GBM Resources (ASX:GBZ), the gold grades are higher than anticipated and could point to an increase in grade for the resource.

Part of these intersections are also located outside an existing 309 deposit of contained gold resource of 500,600oz, which could expand the size of the deposit.

Not bad at all for a maiden drill program that was only designed to confirm historical drilling, infill areas of lower drill density to upgrade resource classification, and test extensions to mineralisation outside of the current resource boundaries.

“Excellent assay results from GBM’s first two drill holes at Twin Hills demonstrate the quality of the 309 resource,” managing director Peter Rohner.

“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.”


Assay results

The assays received are from the first two of 17 planned holes at the Twin Hills project. Six holes have been drilled to date.

309DD22001 returned stronger than anticipated results with the 16m at 13.65g/t gold intersection being of much higher grade than the 16m interval grading 7.15g/t gold from 197m intersected in the adjacent hole THRCD844

Additionally, intersections of 2m at 4.6g/t gold from 218m and 3m at 1.87g/t gold from 224m are located within a broader 13m zone at 1.72g/t gold from 218m that extends mineralisation outside the current resource limits.

Drill hole 309DD22002 also returned mineralisation comparable or stronger to the estimated resource grade while the intersection of 8 m at 5.76g/t gold from 300m including 2m at 21.75g/t gold from 301m sits well outside the resource model in the footwall of the deposit.

This represents a priority target with the potential to expand resources at the 309 Deposit.

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.