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GME Resources (ASX:GME) - Non Executive Chairman, Peter Sullivan - The Market Herald
Non Executive Chairman, Peter Sullivan
Source: Resolute Mining
  • GME Resources (GME) has intersected up to 12.3g/t gold during reverse circulation (RC) drilling at its Fairfield gold deposit in Western Australia
  • Up to 19 holes were drilled to outline and test the immediate strike of a shallow exploration target
  • The results have confirmed the presence of two moderate to high-grade shoots and low zones of moderate grade gold mineralisation
  • GME is planning additional work to test the strike extent of mineralisation which remains open to the north and at depth
  • Resource modelling and technical and economic studies will then be undertaken once further drilling has been completed
  • GME has ended the day a healthy 38.1 per cent in the green with shares trading for 5.8 cents each

GME Resources (GME) has intersected up to 12.3g/t gold from reverse circulation (RC) drilling at its Fairfield gold deposit in Western Australia.

Up to 19 RC holes, for 720 metres, were drilled to outline and test the immediate strike of a shallow exploration target of 90,000 to 135,000 tonnes.

Best results include three metres at 4.8g/t gold from 36 metres, including one metre at 12.3g/t gold from 36 metres, and 10 metres at 2.9g/t gold from 13 metres, including one metre at 9.3g/t gold from 18 metres.

These results have confirmed the presence of two moderate to high-grade shoots and low zones of moderate grade gold mineralisation.

"The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a mineral resource in this area and it is uncertain if further exploration will result in the estimation of a mineral resource," the announcement stated.

GME is planning additional work to test the strike extent of mineralisation which remains open to the north and at depth.

Further, resource modelling and technical and economic studies will be pushed back until additional drilling has been completed.

GME has ended the day a healthy 38.1 per cent in the green with shares trading for 5.8 cents each in a $23.38 million market cap.


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