GBM uncovers broad gold zone beyond Lone Sister resource

Broad Lone Sister intersection sits beyond current resource

GBM Resources Limited (ASX:GBM) has found a 50-metre zone grading 2.01 grams per tonne gold entirely outside the current mineral resource estimate at Lone Sister, giving the company its clearest new evidence yet that Twin Hills may extend beyond its existing resource envelope.

“Plan view of 309 Deposit with completed Stage 1 and 2 drill holes.”

“Lone Sister Deposit”

Caption and image © Gbm Resources Limited. From “Broad High Grade Gold Intersected Outside Lone Sister MRE”, 9 Nov 2026.

The intersection, from 246 metres in hole LSDH018, includes 10 metres at 4.20g/t gold and 3 metres at 6.99g/t. It follows the earlier Lone Sister extensions, which included a 37-metre intersection at 2.40g/t gold beyond the resource boundary.

“Plan view of Lone Sister Deposit with completed Stage 1 and 2 drill holes.”

GBM reported further strong results at Lone Sister, including 16 metres at 2.96g/t from 430 metres in LSDH022, also outside the current MRE, and 10 metres at 3.04g/t from 323 metres in LSDH014. That latter interval contains a 1-metre zone grading 16.95g/t.

309 drilling adds continuity beyond the MRE

The company also reported several moderate-to-strong intersections outside the current 309 resource. These include 27 metres at 1.28g/t gold from 275 metres, 18 metres at 1.53g/t from 333 metres and 13 metres at 1.61g/t from 313 metres.

The results extend the latest 309 high-grade drilling results, which included an 18-metre intersection at 12.01g/t gold beyond the existing resource. GBM says the new drilling is improving its understanding of mineralisation within the Milled Matrix Breccia host sequence and associated structural zones.

“Cross section (505,485E) of 309 deposit with current MRE, recent drilling intercepts (Stage 1 and 2) and interpretative geology.”

The broader corridor remains open to exploration. Previous drilling has indicated that the prospective host sequence continues at least 700 metres south of the 309 MRE into the Stella prospect, although the source announcement does not establish that this extension will form part of an economic resource.

November resource update becomes the next test

GBM said laboratory backlogs have been cleared and the database for the updated Twin Hills MRE has been quarantined, with resource estimation on track for completion by the end of November 2026. The company says the Stage 2 results could increase contained gold, lift average grades and support conversion of some Inferred material into Measured and Indicated categories.

That remains a potential outcome rather than a reported result. The quoted intercepts are downhole lengths, with true widths not yet known, and several recently completed holes sit outside the database cut-off because their assays remain outstanding. The updated estimate will therefore matter more than any individual intersection: it will show how much of the new drilling can be incorporated into a coherent resource model.

GBM Chief Executive Daniel Hastings said the updated MRE, combined with recent metallurgical work, would provide the basis for a formal decision on whether to progress Twin Hills to feasibility studies. Earlier testwork reported rougher flotation recoveries of up to 99%, but further processing work and the resource update are still required before that development decision can be made.