- GBM Resources (GBZ) receives initial results from its reverse circulation drilling program at the White Dam Gold-Copper Project in South Australia
- A total of 53 holes were drilled across the Vertigo and White Dam North open pits to increase the confidence level and add to the resources
- Assays have been received for 20 of the holes drilled at Vertigo with grades so far peaking at 0.87 grams of gold per tonne (g/t) and 0.38 per cent copper
- Results from the remaining holes at Vertigo and all from White Dam North are at the laboratory and are expected by the end of July
- GBZ has ended the day in the grey with shares trading at 13 cents
GBM Resources (GBZ) has received initial results from its reverse circulation (RC) drilling program at the White Dam Gold-Copper Project.
The White Dam Project lies roughly 100 kilometres southwest of Broken Hill in South Australia.
A total of 53 RC holes for 4041 metres were drilled, with 43 at the Vertigo and 10 at White Dam North open pits.
The main focus was the Vertigo pit and GBM aimed to increase the confidence level as well as add to the oxide and transitional resources.
Assays have now been received for 20 of the 43 holes drilled at Vertigo with the remainder and all holes from White Dam north in the laboratory.
Best results include three metres at 0.87 grams of gold per tonne (g/t) and 0.38 per cent copper from 38 metres, 14 metres at 0.81g/t gold and 0.29 per cent copper from 38 metres and 13 metres at 0.41g/t gold and 0.11 per cent copper from 28 metres.
These results give increased confidence in the known JORC mineral resource estimate and highlight the potential for significant sulphide gold and copper mineralisation.
GBZ has ended the day in the grey with shares trading at 13 cents in a $56.32 million market cap.