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GBM Resources Ltd.
Summary
| Project: | Mount Coolon | |
|---|---|---|
| Deposit: | Glen Eva | |
| Location: | Australia | |
| Commodities: | Gold-Silver | |
| Date: | 3/22/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-3-2017: GBM Resources Ltd. announces an Exploration/Drilling Update report for its Glen Eva deposit at the Mount Coolon project. Drilling results incl. 24.8m @ 6.2g/t Au from 100m. Australian Resources company GBM Resources Limited (ASX: GBZ) (“GBM” or | |
| 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 results have been received for the second hole from the two-hole drilling programme completed in January 2017 to provide samples and data to support further investigation of the geotechnical, geochemical and metallurgical characteristics of the Glen Eva Deposit. While the key purpose of drilling these holes was to obtain samples for a range of studies including metallurgical testwork, they have provided strong confirmation of the existence of high-grade gold mineralisation at Glen Eva and are in line with expectations for this high-grade deposit. Geological logging and analytical results for GLD0002, the second of two holes drilled at Glen Eva confirm that a broad zone of epithermal gold mineralisation exists. It should be noted that due to constraints in positioning this hole, drilling is oblique to the mineralised zone and true widths will be less than downhole intervals. Interpretation is not complete, but preliminary estimates suggest true widths will be between 40 and 60% of downhole intervals. 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 geochemical and metallurgical results from the confirmatory drilling recently completed at Glen Eva. The Company has received geochemical analyses 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 on the Glen Eva deposit. | |
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