GBM’s run of more high-grade gold at 309 Deposit continues
GBM’s run of gold hits at the 309 Deposit is continuing with more high-grade mineralisation identified outside of the existing resource model.
This is highlighted by the 19m zone grading 5.22 grams per tonne (g/t) gold from a down-hole depth of 121m within a broader 56m intersection at 2.8g/t gold from 121m in hole 309DD22013, or a 157 gram metre intercept (grade multiplied by intersection width).
Along with Hole 309DD22014, which also returned a broad interval of 78m at 1.31g/t gold (102 gram metre), the results confirm major extensions of gold mineralisation which have the potential to increase the 309 Deposit’s current resource of 501,000oz of gold.
GBM Resources (ASX:GBZ) has been keeping up the momentum with earlier holes from the 7,000m diamond drill program returning results such as 78m at 1.6g/t gold from 87m and 152.1m at 1.16g/t gold from 47.9m.
“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,” managing director Peter Rohner.
“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 22).”
The diamond drilling program at the 309 Deposit within the Twin Hills project in the Drummond Basin, Queensland, is aimed at confirming historical drill results, infill areas of lower drill density to upgrade resource confidence, and provide an initial test of extensions to mineralisation outside of the current resource boundaries.
To date, 15 of the planned 17 holes have been completed while the remaining two holes are on hold pending assay results.
GBM noted that the result in 309DD22013 highlights the open pit mining potential of the 309 Deposit with the 19m interval being located above the existing resource.
Intervals of modest grade were also intersected above the resource model near surface including 6m at 1.38g/t gold from 27m and 11m at 0.65g/t gold from 55m.
Results below 140m downhole are broadly comparable to surrounding drill holes and the estimated resource grade.
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.