GBM Resources (ASX: GBM) has confirmed the presence of additional high-grade mineralisation over and above the current resource estimate at the Lone Sister prospect within its Twin Hills gold project in Queensland.
Generated from a Stage 2 drilling program for 50,000 metres, the results build upon solid results from an earlier Stage 1 campaign.
This work returned 52m at 2.77g/t gold from 299m at Lone Sister and 37m at 5g/t gold from 225m at the 309 target.
To date, a total of 15 holes for 3,000m of reverse circulation and 600m of diamond work— representing approximatey 32% of the planned program—has been completed as part of Stage 2 activities.
Assay Highlight Results
Best assays from the first three holes were 22m at 3.65g/t gold from 149m including 10m at 6.2g/t from 150m and 5m at 2.39g/t from 163m, 115m at 1.69g/t gold from 73m including 4m at 9.15g/t from 159m and 16m at 5.5g/t from 167m, and 32m at 0.72g/t gold from surface.
Two of the reverse circulation pre-collars ended in mineralised rhyolite, which is the principal host to gold at Lone Sister.
Planned diamond tails will target down-dip and deeper extensions with the aim of contributing to an updated resource estimate for Twin Hills before year end.
The results confirm the continuation of mineralisation at Lone Sister and identified drilling density as a constraint to the existing resource estimate in certain areas.
GBM plans to address this issue during the Stage 2 campaign.
Growth and Scale Opportunity
GBM chief executive officer Daniel Hastings said the initial assays had demonstrated significant growth and scale opportunity at Twin Hills.
“It is particularly exciting to see one of the holes intersecting 16m at 5.5g/t gold against a current resource estimate grade of up to 2g/t gold in this area, supporting continuity of higher-grade zones within the deposit, as well as the potential to contribute additional ounces and an uplift in overall resource grade,” he said.
“These initial Stage 2 results clearly demonstrate the broader scale opportunity at Twin Hills and with three drill rigs now operating across Lone Sister and 309, we look forward to further results that continue to demonstrate continuity of higher-grade zone, extensions to mineralisation, and resource growth potential ahead of an updated Twin Hills MRE later this year.”
GBM’s three flagship projects in Queensland’s Drummond Basin—Twin Hills, Yandan, and Mt Coolon—currently contain a combined JORC gold resource of approximately 1.84 million ounces.
