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GBM Resources Limited ( (AU:GBM) ) has issued an announcement.
GBM Resources has reported strong assay results from six of thirteen holes in Stage 1 drilling at the 309 deposit within its Twin Hills Gold Project, including broad high-grade gold intersections outside the existing 0.52Moz mineral resource at 309. The results materially improve the geological and mineralisation model, confirm continuity of a high-grade zone beyond the current resource envelope, provide structural vectors for targeting deeper feeder-zone mineralisation, and have prompted the company to fast-track a Stage 2 drilling program aimed at better defining the open-pit resource and supporting quicker progress toward development.
The most recent analyst rating on (AU:GBM) stock is a Sell with a A$0.03 price target. To see the full list of analyst forecasts on GBM Resources Limited stock, see the AU:GBM Stock Forecast page.
More about GBM Resources Limited
GBM Resources Limited is an Australian gold exploration and development company focused on advancing its Twin Hills Gold Project in Queensland’s Drummond Basin, which hosts a mineral resource estimate of around 1.0 million ounces. The company targets both open-pit and underground gold mineralisation, aiming to grow resources and progress toward project development in a well-known epithermal gold district.
Average Trading Volume: 9,723,935
Technical Sentiment Signal: Hold
Current Market Cap: A$169.5M
See more insights into GBM stock on TipRanks’ Stock Analysis page.