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GBM Resources Ltd.
Summary
| Project: | Mount Coolon | |
|---|---|---|
| Deposit: | Glen Eva | |
| Location: | Australia | |
| Commodities: | Gold-Silver | |
| Date: | 3/1/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 1-3-2017: GBM Resources Ltd. announces an Exploration/Drilling Update report for its Glen Eva deposit at the Mount Coolon project. Drilling results incl. 13.0m @ 3.6g/t Au, 13.7g/t Ag from 146.0m. Australian Resources company GBM Resources Limited (ASX: G | |
| Resources: | (Resource, Total): 6.514Mt @ 1.5g/t Au for 314700oz Au contained at Mt Coolon | |
| CP/QP: | [Overall Report]: Neil Norris (Internal) | |
| ABSTRACT: | Australian Resources company GBM Resources Limited (ASX: GBZ) (“GBM” or “the Company”) wishes to advise that a two-hole drilling programme designed to provide samples and data to support further investigation of the geotechnical, geochemical and metallurgical characteristics of the Glen Eva Deposit was completed during January 2017 Assay results of the second hole (GLDOOO2) are expected to be received in March 2017. Glen Eva drillhole GLD0001 intersected a zone of strong epithermal veining and mineralisation. Koala phase 2 infilling drilling programme remains on track and is expected to be completed during the March Quarter. Both Phase 1&2 drilling programme will provide key inputs to support the re-estimation of the resource adjacent to the old underground workings of the Koala underground and detailed mine design (refer ASX announcement 20 December 2016 for further details of the Phase 1 drill program at Koala). A further round of environmental monitoring was completed in January 2017 over the Koala and Glen Eva mine areas as part of the Company’s commitment to establishing a sound basis for future rehabilitation of the Mount Coolon Project area. Also progressing is the re-evaluation of the Glen Eva Resource model to reflect open pit mining parameters. This should be completed upon receipt of results from the confirmatory drilling recently completed at Glen Eva. The Company has submitted for geochemical analyses samples from these holes and completed sampling and logging to provide information on the metallurgical, geotechnical and environmental characteristics of the deposit to support a mine design of the Glen Eva deposit. | |
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