Announcement Date: 2022-12-05
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: GBM Resources Ltd.
Project name: Twin Hills
Location: Australia
Commodities: Gold,Silver
Highlight: Updated Resource Estimate for Project
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 announce a new Mineral Resource Estimate (MRE) for Twin Hills Gold Project (Twin Hills) with a Measured, Indicated, and Inferred (M+I+I) resource of 999,200 oz Au and 4,824,600 oz Ag (Table 1). This is an increase of 238,500 oz Au, or approximately 31% on the previous MRE of 760,000 oz Au (ASX: GBZ release 2 February 2022). In addition, we announce a new mineralisation model for the 309 deposit and report recent excellent assay results from Lone Sister. Also included in this release is the assays of two drill holes (one GBM drilled, and an interval previously not assayed in an old hole) at Lone Sister (page 9) and a summary of the new redefined mineralisation model for the 309 deposit which will greatly enhance future exploration (page 6). GBM is pleased to release a new combined resource at Twin Hills of 23.11 Mt @ 1.3 g/t Au and 6.5 g/t Ag for 999,200 oz Au and 4,824,600 oz Ag with 60% of the resource now in Measured and Indicated categories. The new MRE adds 238,500 oz Au or 31% to the previous MRE of 760,700 oz Au (ASX: GBZ release 2 February 2022). The updated MRE comprises open pit resources to approximately 250 m below surface, of 21.76 Mt @ 1.2 g/t Au for 854,700 oz Au calculated at a cut-off grade of 0.4 g/t Au and underground resources below 250 m of 1.35 Mt @ 3.3 g/t Au for 144,500 oz Au at a cut-off grade of 2.0 g/t Au.
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