| Announcement Date: | 2022-11-21 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | JORC |
| Company name: | GBM Resources Ltd. |
| Project name: | Malmsbury |
| Location: | Australia |
| Commodities: | Gold |
| Highlight: | Drilling results incl. 8.1m at 5.79g/t Au from 131.9m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | GBM Resources Limited (ASX: GBZ) (GBM or the Company) is pleased to provide an update on exploration activities and proposed activities at the Malmsbury Project JV in central Victoria. The Malmsbury Project is subject to a Farm In and Joint Venture agreement with Novo Resources Corp. (GBM 50%, Novo 50%). Novo assumed management of the Malmsbury Project on 1 October 2022 after previously advising GBM that they are now sufficiently advanced in developing management systems specific to Victoria, however they have indicated a desire to continue to involve a number of key GBM staff in future operations. All gold and multi-element assays have now been returned from a recent 3,162 m diamond drilling program for 11 holes at the Malmsbury Project. Significant results from the final three holes (MD20, MD21 and MD22) are presented herein. Significant results for earlier holes (MD13 through MD19) have been reported previously. Refer ASX:GBZ releases 10 May 2022, 22 June 2022 and 8 September 2022. Table 1 below highlights new >1 gram metre results reported for drill holes MD20, MD21 and MD22 testing reef-related mineralization. |
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