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- GBM Resources (GBZ) has found high-priority targets at the recently purchased Yandan Project in Queensland for the 2021 drilling program
- The company has highlighted three district-scale gold systems at the project that will be the focus on the upcoming drilling program
- GBM will release further details on its 2021 exploration and drill programs for Yandan and Mt Coolon Projects in the coming weeks
- However, drilling is expected to commence next week
- On market close for the day, GBM is in the grey and trading at 9.8 cents per share
GBM Resources (GBZ) has found high-priority targets at the recently purchased Yandan Project in Queensland for the 2021 drilling program.
The company highlighted three district-scale gold systems at the project that will be the focus on the upcoming drilling program. These targets are Yandan Mine Corridor, Illamahta and North East Ridge.
Yadan project was purchased last year and is near the company’s existing Mt Coolon project.
GBM will release further details on its 2021 exploration and drill programs for Yandan and Mt Coolon Projects in the coming weeks. Nevertheless, it expects drilling to commence next week.
Managing Director Peter Rohner is pleased to start exploring the Yandan Project.
“Drilling activities in 2021 will cover both the Yandan and Mt Coolon Projects with geophysical surveys rotating between the areas to help target additional prospective units,” he said.
“Our work continues to focus on known epithermal alteration systems hosting gold that we believe hold potential to establish a plus 1-million-ounce resource base and ‘processing halo’ at the Mt Coolon/Yandan Gold Projects. This aggressive exploration program planned for 2021 will be a substantial step for GBM in moving towards becoming a significant gold producer in the Drummond Basin,” he added.
Last month, redoubled its efforts to buy the nearby Twin Hills Gold Project after GBM tried to buy the project from the current owner Minjar Gold in 2018 before the deal fell through
Now, the parties have re-engaged in discussions over the project, and the company hopes the purchase will be successful this time.
On market close for the day, GBM is in the grey and trading at 9.8 cents per share.
