MAYFIELD GOLD COPPER LEAD ZINC PROJECT

EPM19483

Granted licence EPM19483, located to the south of Cloncurry, surrounds the Trekelano copper mine and extends southwards to within close proximity of the Tick Hill gold mine.

The Trekelano copper mine is a high grade, structurally hosted copper gold deposit with a known metal inventory*1 (production and resources) of 63,000tonnes of copper and 73,000 ounces of gold.

Trekelano is currently being explored by Ivanhoe Australia which recently reported high grade copper intersections, including 44metres @ 5.7% Cu and 1.4 g/t Au (TRNQ53, Presentation to Global Resources Conference 26-27 September 2011). The Tick Hill gold mine has produced*2 513,333 ounces from 705,000 tonnes of ore at an average grade of 22.6 g/t Au, ranking it as one of the most significant, high grade gold producers in Australia’s modern mining era.

Preliminary research by GBM Resources has identified a number of promising results in data obtained from open file exploration reports. These include significant copper intersections from the Clarries Prospect and base metal intervals from drilling at Maiden Creek. In addition, a soil geochemical survey at Kiama indentified a semi-circular feature at plus 100ppm Cu.

This 1.2 kilometre long, 120 metres wide prospect is located immediately south of an untested magnetic high.

 

                                           Mayfield tenement plan

Current Share Price
1.3c
Visit ASX Website
Current Gold Price
US$1199.90

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