Lubuk Mandi Gold Mine

The Lubuk Mandi Gold Mine is located near the State capital of Terengganu in Peninsular Malaysia and covers 221 heactares and includes over a million tonnes of tailings which has significant potential for early gold production through the development and recommissioning of the mining operations with joint venture partners Angka Alamjaya Sendirian Berhad (AASB) and provides development funding options.

The Lubuk Mandi Gold Mine, which was previously owned and operated by government body Terengganu State Economic Development, in the mid 90’s, produced 108,000 ounces of gold from two shallow pits.  The existing processing plant is rated at 300,000 tpa and involves single stage crushing to a stockpile and mill. The mine and processing plant have been on care and maintenance since 2000.

In early 2013 GBM conducted due diligence and developed a business plan to develop the project and recommence mining operations.

The project has three identified sources of mineralised material that may provide ore for future mining and treatment.  Exploration targets comprises of:

  • Tailings Damexploration target between 1 Mt at 0.7 g/t Au containing 23,000 oz Au, and 1.4Mt at 0.9 g/t
  • Main Zoneexploration target between 370,000 tonnes averaging 2.9 g/t Au containing 35,000 oz Au and 1,100,000t averaging 3.6 g/t Au containing 127,000 oz Au
  • East Zone – exploration target between 1,440,000 tonnes averaging 2.5 g/t Au containing 116,000 oz Au and 2,400,000 tonnes averaging 3.6 g/t Au containing 280,000 oz Au.

Total JORC exploration target for the project is estimated to contain between 174,000 and 443,000 ounces of gold.

 Satellite image of current day Lubuk Mandi Mine Site showing lease outlines in red

Satellite image of current day Lubuk Mandi Mine Site showing lease outlines in red.

Lubuk Mandi mine layout plan showing exploration target locations

Lubuk Mandi mine layout plan showing exploration target locations.

native au at LM

Dendritic native gold in quartz from Lubuk Mandi (sample M446, field of view approx. 5mm). Henney et al 1994 pp33, Characterisation of Gold from Lubuk Mandi, British Geological Survey Technical Report WC94021.

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Latest News

Significant resource Increase at Glen Eva Gold Deposit, Mt Coolon, Qld
• Gold resource increased by 77% to 0.9Mt averaging 2.2 g/t Au containing an estimated 66,000 ounces of gold.
• Potential exists to extend the Glen Eva Resource along strike and down dip.
• Significant grade zones, including:
o 24.8m @ 6.2 g/t Au from 100m and
o 24.6m @ 4.8g/t Au from 132m reported earlier this year from GBM drill hole GLD0002 (refer ASX release 22 March 2017)
1 June 2017
Notice of Change of Interests of Substantial Holder
Change in Substantial Holding.
28 April 2017
Koala Deposit Drilling Upgrade, Mt Coolon Gold Project
Stage 2 drilling program has now been completed and has identified gold mineralisation adjacent to the historic mine workings in the Koala Gold Deposit.
27 April 2017

Latest Reports

Report for the Quarter ended 31st March 2017
March Quarter Report 2017
31 March 2017
Report for the Quarter ended 31st December 2016
Highlights

Mount Coolon Gold Project:

Koala Gold deposit:
• Stage 1 of drilling programme has been completed at the Koala Gold Mine with 23 diamond holes drilled for a total of 1,303 metres
• Results have confirmed the presence of remnant high-grade gold mineralisation in quartz vein and breccia style settings throughout the old stope areas tested.
• The Company has commenced Stage 2 drilling in January 2017 and the program forms part of the Study to evaluate recommencement of mining operations at the Koala Gold Mine.
31 January 2017
Report for the Quarter ended 30th September 2016
Highlights
Mount Coolon Gold Project:
Eugenia Gold Deposit:
• Publication of Eugenia Heap Leach Scoping Study showing potential
economic viability.
• Recovered gold ounces total 32,588 at a C1 cost of $813 per ounce,
capital estimated at $8.3 million.
• Free cashflow generated will be allocated to accelerate expanding
the known open pit resources and the mineralising systems with the
aim to build the Mt Coolon Gold Project inventory to a level that will
support the commissioning of a CIL plant.
31 October 2016

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Contact Address

GBM Resources

ABN 91 124 752 745

Suite 8, 7 The Esplanade,
MT PLEASANT WA 6153

T: (08) 9316 9100

F: (08) 9315 5475

E: info@gbmr.com.au

 

Exploration Office

10 Parker St, Castlemaine VIC 3450

T: (03) 5470 5033