GBM Resources Advances Twin Hills Gold Resource with High-Grade Drilling Results

Twin Hills Drilling Reveals Resource Expansion and Grade Upside

GBM Resources Limited (ASX:GBM) has delivered a compelling update from its flagship Twin Hills gold project in Queensland’s Drummond Basin. The ongoing Stage 2 drilling program, now 46% complete with approximately 23,000 metres drilled, has extended mineralisation beyond the existing 1.0 million ounce (Moz) Mineral Resource Estimate (MRE). Notably, drilling has confirmed stronger grades and improved continuity within the resource, with standout intercepts including 45 metres at 2.21 grams per tonne (g/t) gold from 346 metres at the 309 deposit, featuring high-grade zones of up to 28.75 g/t over one metre.

These results not only bolster the current resource but also highlight broad zones of mineralisation outside the existing MRE envelope. For instance, a 35-metre intercept at 2.29 g/t Au from 242 metres at 309 includes a 3-metre section grading 21.89 g/t, suggesting significant lateral extensions. The geological model has been refined to show mineralisation hosted within a continuous sedimentary horizon, with the breccia unit extending further than previously recognised, opening new avenues for resource growth along strike towards the Coreshed and Stella prospects.

Lone Sister Deposit Confirms Resource and Expansion Potential

At the Lone Sister deposit, Stage 2 drilling has returned encouraging results supporting both grade uplift and resource expansion laterally and at depth. Despite many holes serving as pre-collars for deeper diamond tails, broad mineralised zones have been intercepted, such as 115 metres at 1.69 g/t Au from 73 metres, including higher-grade intervals of 9.15 g/t and 5.50 g/t. These intersections exceed the company’s expectations for this phase and indicate robust mineralisation continuity.

With approximately 46% of Lone Sister drilling results still pending, the company is optimistic about incorporating these assays into an updated resource model later this year, aiming for a Q4 2026 updated MRE across Twin Hills.

Yandan Stage 1 Drilling Targets High-Grade Hydrothermal System

Post-quarter, GBM commenced an 8,000-metre Stage 1 drilling campaign at its Yandan project, targeting a newly interpreted intrusive-centred hydrothermal gold system. The program combines 4,000 metres of reverse circulation and 4,000 metres of diamond drilling, focusing on key areas such as East Hill, which hosts a high-grade core of 201,000 ounces at 5.7 g/t Au.

Historical intercepts at Yandan have been impressive, including a 191-metre intercept grading 4.0 g/t Au and a spectacular 2.5-metre interval at 248 g/t Au in drill hole YAN010. These results underpin the company’s confidence in the prospectivity of the system and support plans for an updated resource estimate in the first half of 2027.

Regional Exploration and Financial Strength Enable Aggressive Growth

Parallel to drilling at Twin Hills and Yandan, GBM has initiated a regional exploration program targeting over 20 high-priority prospects along the Twin Hills corridor. The company recently completed extensive magnetic and radiometric surveys and plans to deploy airborne electromagnetic surveys, partly funded by a $250,000 Queensland Government grant, to enhance target generation.

Financially, GBM remains well-positioned with $31.7 million in cash, $1.65 million in listed investments, and zero debt as of 30 June 2026. This strong balance sheet allows the company to accelerate its drilling campaigns and exploration activities without external capital constraints.

Additionally, GBM received a $0.6 million deferred payment from the sale of its Mt Morgan project to Lithium Energy Limited, with further payments and royalties potentially forthcoming, providing additional financial flexibility.