GBM EXTENDS GOLD MINERALISATION AT 309 DEPOSIT

Stage 1 drilling hits up to 49.87g/t gold, confirming high-grade zones outside current resource

GBM Resources Limited (ASX:GBM) has reported high-grade gold assay results from six of thirteen drillholes completed in Stage 1 drilling at the 309 deposit, part of the Twin Hills Gold Project in Queensland’s Drummond Basin. The results confirm extensions to gold mineralisation beyond the current 1.0Moz Mineral Resource Estimate (MRE).

Drilling has identified several high-grade intercepts outside the existing MRE, with standout results including:

29m @ 3.13g/t Au from 194m (TNDH010), including:
- 4m @ 15.11g/t Au from 195m
  - Including 1m @ 49.87g/t Au from 196m
29m @ 2.63g/t Au from 302m (TNDH004), including:
- 3m @ 16.56g/t Au from 307m
13m @ 2.14g/t Au from 373m (TNDH003), including:
- 5m @ 3.43g/t Au from 379m

The result from TNDH004 has demonstrated continuity of a high-grade mineralised zone outside the existing MRE of 10.6Mt @ 1.5g/t Au for 0.52Moz (open pit and underground combined).

Assays are pending for a further seven holes (2,225m) from the same program, while results from Stage 1 have already provided critical structural data to refine deeper, high-grade ‘feeder zone’ targets below the current MRE. Stage 2 drilling is scheduled to begin in the coming weeks.

GBM has also engaged epithermal gold expert Greg Corbett to support ongoing interpretation and target generation across the broader Twin Hills project.

GBM Chief Executive Officer, Daniel Hastings, commented:
The Company is highly encouraged by the successful results from Stage 1 drilling at 309 which not only included significant high-grade intersections outside of the current MRE but also has provided valuable understanding to allow the Company to develop higher confidence drill targets to explore for deeper mineralised structures. Importantly, we are now in a position to develop a more expansive drilling program to fully define the upper open-pit resource so as to enable quicker progress towards development.