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GBM Resources Ltd.
Summary
| Project: | Mount Coolon | |
|---|---|---|
| Deposit: | Koala Gold Mine | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/20/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-12-2016: GBM Resources Ltd. announces an Exploration/Drilling Update report for its Koala Gold Mine deposit at the Mount Coolon project. Drilling results incl. 0.8m @ 44.2g/t Au from 71.7m. Australian Resources company GBM Resources Limited (ASX: GBZ) | |
| 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 it has completed the first stage of its diamond drilling program testing the central mineralised zone at the Koala Gold Mine at Mount Coolon, located in the Drummond Basin, Queensland. The drilling has confirmed the presence of remnant high-grade gold mineralisation in quartz vein and breccia style settings throughout the area tested. This high grade material is hosted within a broader halo of intense silica pyrite mineralisation. Stage 1 drilling comprised 23 drill holes for a total of 1,303 metres of diamond drilling. All results have now been received and compilation and interpretation are underway. Significant intersections received to date are summarised below. Full results are listed in table 2 at the end of this release. | |
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