GBM Resources (GBZ)

Shares / Stock Code

GBZ

Stock Exchange / Sharemarket

Australian Securities Exchange

GBM Resources (GBZ) listed on the Australian Stock Exchange in October 2007 as an exploration company with the strategy of targeting large gold and copper-gold systems in Australia. Its 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.

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 recent 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 target areas within the project.

Since listing GBM Resources 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.

GBM Resources (GBZ) Products and Services

  • Mineral Exploration

GBM Resources (GBZ) Locations and Subsidiaries

GBM Resources Head Office
Level 1, 335 Churchill Ave,
SUBIACO, WA 6008
Phone: 08 9388 6899
Fax: 08 9388 6977

GBM Resources (GBZ) Share Price

Submitted by ASX Listed Company on 25 March, 2010 - 03:54

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