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GBM RESOURCES LIMITED

ASX: GBZ

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Our Queensland based projects include several copper-gold projects located in the Mount Isa region and the Dee Range copper-gold project located near Mt Morgan. Our Victorian projects include the Malmsbury gold project and Willaura copper-gold project.

Mount Isa region, Northern Queensland - Targeting Iron Oxide Copper–Gold Deposits

GBM acquired 10 titles in October 2008 that form a strategic position in the Mount Isa / Cloncurry region which is one of the world’s most prolific producers of base metals. The tenement package is highly focussed on the Eastern Succession of the Mt Isa Inlier which is recognised as the key host to IOCG deposits in the region. The key target is IOCG and gold mineralisation however a recent 1,000m drilling program at shallow depths has confirmed phosphate mineralisation at the Bungalien tenement. This tenement is located close to the Phosphate Hill mine. At the Brightlands tenement recenet rock chip sampling returned significant results for copper, gold and uranium. This was followed up recently with soil sampling at the Milo prospect as the first of five high priority tarfet areas within the project.

Dee Range Project, near Rockhampton - Targeting Gold and Copper Deposits

Since listing GBM has increased its strategic tenement holding in the Mt Morgan region by an additional three licences. The historic Mt Morgan gold–copper mine produced 8 million ounces of gold and 420,000 tonnes of copper. Data review and field work have identified a number of targets for follow up. An aeromagnetic anomaly suggests an intrusive complex with features similar to the Mt Morgan mine. Some of the results include a 4.5 km anomalous zone with stream samples up to 171 ppb of gold. There has been no drill activity since 1966 and GBM will be deploying modern exploration methods to this area.

Malmsbury Project, Victoria - Targeting Gold Deposits

The Leven Star prospect resource has increased to 104,000 ounces of gold. The deposit is open both at strike and depth. The diamond drilling and field work undertaken in 2008 plus historical data support the conclusion that the project has the potential to emerge as a major gold system. Successful granting of EL5120 covers the possible extensions to the Malmsbury project.

Willaura Project, Victoria - Targeting Intrusive Related Copper-Gold Deposits

Located in the Stavely Zone, which contains a number of well known copper and base metal occurrences. Three magnetic features with associated copper geochemical anomalies have been identified. One target test drill hole returned 1840ppm copper and 42000ppm zinc and anomalous nickel values. Recent high grade copper and gold results from the adjacent tenement demonstrates the prospectivity of the Mt Stavely volcanic area.

Mine For

gold, copper, iron

Location of operation(s)

Victoria, Queensland

Address

Level 1, 335 Chuchill Avenue
SUBIACO, WA, AUSTRALIA

Phone

(08) 9388 6899

Email

Website


Last Updated

5/4/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.