Hit after hit continues at GBM Resources’ 309 gold deposit

Further results from the initial 7,000m diamond drilling program at the Twin Hills Project have been received and they underline the potential to increase the current mineral resource estimate.

Building on previous ‘outstanding’ results, the best intersections from this program include 152.1m at 1.16g/t gold from 47.9m in hole 309DD22006 and 186m at 1.77g/t gold from 47m in hole 309DD22007.

These two drill holes intersected broad intervals of gold mineralisation with gram x metre (g*m) intersections of 176 and 329 g*m respectively.

Drill hole 309DD22007 returned a peak result of 0.5m at 155.75g/t gold from 12m while multiple zones of mineralisation were also intersected outside the current resource in hole 309DD22009, underlining the potential to increase the modelled resources.

Results build on high-grade intersections in first five holes

GBM (ASX:GBZ) MD and CEO Peter Rohner said once again, drilling has returned excellent results that build on numerous high-grade intersections in the first five holes.

“It is very pleasing to see the results confirm previous drilling and the block model whilst defining extra mineralisation at depth and around the margins of the resource,” he said.

“We continue to build our understanding of the deposit and look forward to providing both additional results and an updated geological model in the coming weeks. The drilling also provides clear follow up targets for the Phase 2 drilling program planned for later this year at 309”

Around 13 of the planned 17 holes have now been completed while a drill program of 14 holes for ~ 7,000m at the nearby Lone Sister Deposit is set to get underway.”

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.