Resource Upside at Risk Pending Assay Results from GBM’s Twin Hills Drilling

Expanding the Gold Footprint at Twin Hills

GBM Resources Limited (ASX, GBM) has delivered a promising update from its ongoing exploration efforts at the Twin Hills Gold Project in Queensland’s Drummond Basin. The company announced assay results from six of thirteen drillholes completed during Stage 1 drilling at the 309 deposit, a key component of the project’s approximately 1.0 million ounce Mineral Resource Estimate (MRE).

The results have materially enhanced the geological and mineralisation model, with several drillholes intersecting broad zones of high-grade gold mineralisation beyond the boundaries of the existing MRE, which currently stands at 10.6 million tonnes at 1.5 grams per tonne gold for 0.52 million ounces. Highlights include a standout intercept of 29 metres at 3.13 grams per tonne gold from 194 metres depth, featuring a 1-metre section grading nearly 50 grams per tonne.

Geological Insights and Expert Collaboration

Beyond the impressive assay figures, the Stage 1 drilling has provided valuable structural information that is sharpening the company’s understanding of the deposit’s geology and the controls on mineralisation. This insight is crucial for targeting deeper, potentially richer 'feeder zones' that could host high-grade ore shoots at depth.

To bolster this effort, GBM has engaged Greg Corbett, a globally recognised epithermal specialist. Corbett’s expertise is expected to refine the paragenesis and structural controls on mineralisation, enhancing the precision of exploration targeting and potentially accelerating the path to resource expansion and development.

Lone Sister Deposit and Next Steps

In parallel, the Lone Sister deposit has returned encouraging assay results from its final Stage 1 drillhole, including 7 metres at 2.55 grams per tonne gold. These findings support the continuity of mineralisation around a rhyolite intrusive and have prompted GBM to plan a larger, multi-stage drilling program aimed at fully defining the upper orebody, exploring deeper feeder structures, and improving resource confidence.

With seven drillholes still pending assay results at the 309 deposit, the company is poised to update the market further as new data emerges. The positive outcomes from Stage 1 have already expedited preparations for Stage 2 drilling, expected to commence shortly, signalling GBM’s commitment to advancing the Twin Hills project towards development.

Strategic Implications

These developments at Twin Hills reinforce GBM’s position in the Queensland gold exploration landscape, where it holds a portfolio with nearly 1.84 million ounces in JORC resources across its flagship projects. The ongoing drilling success and expert collaboration could translate into a significant resource upgrade, enhancing the project’s economic potential and attractiveness to investors.