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  • GBM Resources (GBZ) reports “excellent” results from its initial diamond drill program at the Twin Hills Project in Queensland
  • The company undertook a roughly 7000 metre diamond drilling program at the 309 Deposit, completing 15 of its planned 17 holes
  • The work identified high grade gold mineralisation, with hits including 56 metres at 2.8 grams of gold per tonne (g/t) from 121 metres
  • The remaining two holes continue to be on hold, pending further assay results
  • GBM Resources last traded at 5.7 cents on July 7

GBM Resources (GBZ) has reported “excellent” results from its initial diamond drill program at the Twin Hills Project in northeast Queensland.  

The company undertook a roughly 7000-metre diamond drilling program at the 309 Deposit, completing 15 of its planned 17 holes.

The program was designed to confirm historical drilling results and infill areas of lower drill density to upgrade confidence in the resource.

The work identified high-grade gold mineralisation, with hits including 56 metres at 2.8 grams of gold per tonne (g/t) from 121 metres, including 1.8 metres at 38.96 g/t gold from 121 metres.

The remaining two holes continue to be on hold, pending further assay results.

GBM said the results are still being recorded for the current drill program, which is working to confirm major extensions of gold mineralisation. These could potentially increase the mineral resource estimate for the 309 Deposit to 501,000 ounces of gold.

GBM Managing Director and CEO, Peter Rohner said drilling at Twin Hills has continued to discover additional high-grade gold mineralisation adjacent to the known resources.

“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,” Peter Rohner said.

The total mineral resource estimate for the Twin Hills Project currently sits at 760,700 ounces of gold.

GBM Resources last traded at 5.7 cents on July 7.

GBZ by the numbers
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