For thousands of other reports visit RSC's Mineral Intellingence Map
GBM Resources Ltd.
Summary
| Project: | Mount Coolon | |
|---|---|---|
| Deposit: | Koala Gold Mine | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/26/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-1-2017: GBM Resources Ltd. announces an Exploration/Drilling Update report for its Koala Gold Mine deposit at the Mount Coolon project. Drilling results incl. 2.6m @ 12.3g/t Au from 206.4m. 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 recommenced drilling at the Mount Coolon Gold Project, located in the Drummond Basin, Queensland. Current drilling activities are key inputs required to support evaluation of recommencement of mining operations at the Mount Coolon Gold Project. The three deeper diamond holes completed are designed to confirm mineralisation and provide metallurgical, geotechnical and environmental data for both the Koala and Glen Eva Open Cuts. Re-evaluation of the Glen Eva Resource is currently underway as the current resource estimate of 154,000 tonnes at an average grade of 7.5 g/t Au containing 37,200 ounces of gold was based on underground mining methods rather than open cut mining options. The Glen Eva deposit was mined during the 1990’s yielding high grade ore from epithermal style gold mineralisation. Two diamond drillholes (GLD0001&2) were completed at Glen Eva to provide data and mineralised material to confirm descriptions and results from previous drilling at this deposit. Initial observations from these drillholes indicate that extensive areas of epithermal veining has been intersected broadly in line with existing geological and ore models. Assay results are expected later in February to confirm if gold mineralisation is present. Completion of logging of Koala diamond hole (KLRD0024) beneath the old Koala Open Pit has confirmed the presence of quartz vein and breccia style settings similar to those observed hosting remnant high-grade gold mineralisation throughout the Koala underground workings area tested by stage 1 drilling. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report