Resource Growth Uncertain as GBM Drills Beyond Existing 309 Gold Deposit

High-Grade Gold Intercepts Push Resource Boundaries

GBM Resources Limited (ASX:GBM) has unveiled compelling assay results from its Stage 2 drilling campaign at the 309 deposit within the Twin Hills Gold Project in Queensland, signalling tangible resource growth potential beyond the existing Mineral Resource Estimate (MRE). Notably, drillhole TNDH026 intersected 21 metres at 2.50 grams per tonne (g/t) gold from 158 metres, including a high-grade 4 metres at 9.24 g/t Au, positioned east of the current resource envelope. This discovery lies approximately 60 metres from the nearest previous drillhole, underscoring the potential for significant extensions to the deposit’s eastern limits.

These latest results build on prior successes, with the Stage 1 program having already revealed substantial high-grade intersections outside the 309 resource, such as a 37m interval at 5.00 g/t Au from 225m in hole TNDH012. The ongoing Stage 2 program, featuring three drill rigs active across the Lone Sister and 309 deposits, continues to confirm the continuity of mineralisation along strike and at depth, with multiple holes returning encouraging grades that support the company’s resource growth thesis. For example, TNDH016 and TNDH017 drilled near the northern extent of the deposit intercepted additional mineralised zones, reinforcing the prospect of extensions both east and west of the earlier high-grade intercepts.

Integrated Geological and Structural Insights Guide Drilling

GBM’s evolving geological and structural model is sharpening targeting precision for higher-grade mineralisation at depth. The company is leveraging multi-element geochemical data and structural interpretations to delineate zones of gold zonation correlated with pathfinder elements, enhancing the prospectivity of deeper feeder zones. This refined approach has already borne fruit with the discovery of new mineralised zones outside the existing MRE, particularly in the upper portions of the orebody, which GBM aims to expand to grow the open pit resource at 309.

Drilling techniques combine diamond core with reverse circulation (RC) pre-collars, ensuring high sample recovery and quality assay data processed at Intertek Laboratories. The program also continues to collect essential geological, metallurgical, and geotechnical information to underpin future development studies. These efforts align with the company’s broader strategy to advance Twin Hills towards prefeasibility and ultimately production.

Broader Twin Hills and Yandan Project Activity

In addition to the 309 deposit, GBM is progressing drilling at the Lone Sister deposit, where a higher proportion of RC drilling has been completed, with assays pending for 15 holes. The company is also preparing to commence drilling at the nearby Yandan deposit, which hosts a 0.44 million ounce resource at 1.1 g/t Au, including a higher-grade 0.20 million ounce zone at 5.7 g/t Au. Yandan remains open at depth and along strike, presenting another avenue for resource growth bolstered by recent geophysical surveys.

This latest tranche of results and ongoing drilling activity at Twin Hills follows a series of encouraging high-grade intersections reported earlier this year, reinforcing GBM’s momentum in expanding its ~1 million ounce gold resource base in the Drummond Basin. The company’s systematic approach to exploration and resource definition is positioning it well for upcoming resource updates and development milestones in 2026.

GBM’s CEO Daniel Hastings highlighted the significance of these findings, noting the growing confidence in the mineralised system at 309 and the potential for expanding both near-surface and deeper high-grade zones. The company’s multi-rig drilling campaign and evolving geological models are key to unlocking further resource upside across its Queensland portfolio.

These developments come amid a broader campaign of resource growth and capital management following GBM’s recent successful Stage 1 drilling and capital raise efforts, which have supported the company’s aggressive exploration push at Twin Hills and beyond. The company’s next updates will be closely watched for further assay results and metallurgical test outcomes that could shape its path towards development.