GBM Confirms 700m Extension of Gold Host Horizon at Twin Hills

Significant Extension of Gold Host Horizon Validated

GBM Resources Limited (ASX:GBM) has delivered a substantial exploration breakthrough at its Twin Hills Gold Project in Queensland, confirming that the key gold-hosting Milled Matrix Breccia (BXM) horizon extends at least 700 metres south of the existing 309 Mineral Resource Estimate (MRE). This finding materially expands the project’s prospective footprint and challenges previous geological assumptions that mineralisation was confined to isolated bodies.

The company’s recent step-out drilling at the Stella prospect, located beyond the 309 deposit, is the first to adequately test the BXM horizon at depth outside the current resource boundary. The deep holes, reaching over 200 metres downhole, consistently intersected the BXM host unit, with assays from hole THDH005 returning 8 metres at 1.31 grams per tonne gold from 126 metres. Notably, approximately 60% of the metres drilled at Stella remain unassayed, leaving room for further positive surprises.

Revised Geological Model Transforms Exploration Strategy

GBM’s Chief Executive Officer, Daniel Hastings, highlighted that the new drilling results have fundamentally altered the company’s understanding of the Twin Hills system. Instead of discrete mineralised bodies, the BXM horizon is now interpreted as a laterally continuous sedimentary unit capable of hosting extensive gold mineralisation.

This revised geological model also provides a coherent explanation for historical gold anomalies detected in shallower andesite units at Stella, which are now considered leakage from the underlying BXM mineralised system. Supporting this interpretation, recent high-resolution magnetic surveys have identified alteration zones and intrusive centres that likely served as pathways for mineralising fluids, generating fresh high-priority drill targets along the corridor.

Ongoing Drilling and Assay Delays Impact Timelines

The Stage 2 drilling campaign, launched in February 2026, has already completed roughly 25,000 metres of resource development drilling across the 309 and Lone Sister deposits. Encouragingly, early results indicate mineralisation extends beyond current resource boundaries at both locations. However, assay results for approximately 11,500 metres of drilling remain pending due to global borax shortages, staffing constraints, and increased laboratory workloads. GBM has responded by dispatching samples to dual laboratories in Queensland, with results expected to resume progressively within the next fortnight.

Pending assay data from Stella and other targets will be critical to refining the geological model and guiding further drilling. The company plans to systematically test the interpreted BXM horizon between 309, Coreshed, and Stella, aiming to delineate the full extent of this newly recognised mineralised system.

Twin Hills Part of a Larger Gold Resource Portfolio

Twin Hills is a flagship asset within GBM’s Drummond Basin portfolio, which collectively hosts approximately 1.84 million ounces of gold in mineral resources across Twin Hills, Yandan, and Mt Coolon projects. The ongoing exploration success at Twin Hills could significantly enhance the value and scale of this district-scale mineral system.

While the current drilling results and geological reinterpretation are promising, much depends on the forthcoming assay returns and subsequent resource updates. The company’s methodical approach to integrating geological, geochemical, and geophysical data aims to unlock further high-priority targets and potentially expand the resource base beyond the current 1 million ounce estimate at Twin Hills.