EPM16057, EPM17105, EPM17163, EPMA17734 & EPMA18366

The Mount Morgan Project is located approximately 40km south west of Rockhampton in Queensland and in close proximity to the world class Mt Morgan Copper-Gold mine. The area is well serviced with key infrastructure with the sealed Burnett Highway traversing the EPM 16057 permit.

In 1886, the Mount Morgan Gold Milling Company was formed to work the Mt Morgan mine. Initially only gold was produced, but copper production began in 1902 following its discovery in the lower workings. The Mount Morgan gold copper deposit has produced more gold than any other deposit in eastern Australia to date, with a total of 50 million tonnes of ore was treated at an average 5.9 g/t of gold and 0.7% copper, yielding approximately 8 million ounces of gold and over 400,000 tonnes of copper.

Historic exploration in the Mount Morgan area has primarily focused on the discovery of a Mount Morgan analogue which has, up until recently, been interpreted by many as a VHMS (massive sulphide) type. Until recent GBM work, no activity targeting intrusion related systems had been completed, nor had there been, thorough examination and interpretation of geophysical datasets or detailed compilation of existing exploration data.

Extensive recent soil sampling over priority targets in the Mount Morgan Project area has upgraded targets at Sandy Creek, Black Range and Smelter Returns where geological data supports the concept of intrusive related mineralisation in this area. GBM has further consolidated its strategic tenement base in the Mount Morgan Region with additional applications being granted during the year.

                                      Mt Morgan Project - Black Range South

GBM now holds over 1000 square kilometres in this region in eight exploration permits and applications in the region, previously referred to as the Dee Range Project.

The region remains, without question, one of the most prospective and underexplored exploration areas in Australia today, and the ongoing acquisition of adjacent ground by Goldfields of Australia indicates growing interest in the area by major gold companies.


Mount Morgan Project, tenement and target location plan with TMI rtp backdrop (Note Limonite Hill prospect is Target T4)


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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

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
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,

T: (08) 9316 9100

F: (08) 9315 5475



Exploration Office

10 Parker St, Castlemaine VIC 3450

T: (03) 5470 5033