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The latest announcement is out from GBM Resources Limited ( (AU:GBM) ).
GBM Resources has reported outstanding assay results from Stage 1 drilling at the 309 deposit within its Twin Hills Gold Project in Queensland, including a thick high-grade intersection located more than 100 metres outside the current mineral resource envelope. The highlighted intercept of 37 metres at 5.00 grams per tonne gold, with ultra-high-grade sub-intervals, confirms the potential to grow the existing 10.6 million tonne, 0.52 million ounce resource at 309 and supports the company’s interpretation of a shallow-dipping structure and deeper ‘feeder zone’ targets, providing strong momentum and geological confidence as it accelerates into Stage 2 drilling.
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 listed on the ASX, focused on advancing its Twin Hills Gold Project in the Drummond Basin, Queensland, which hosts a roughly 1.0 million ounce mineral resource estimate. The company is targeting growth in gold resources through staged drilling programs aimed at expanding existing deposits and identifying deeper, higher-grade feeder zones.
Average Trading Volume: 10,455,488
Technical Sentiment Signal: Hold
Current Market Cap: A$192.4M
Find detailed analytics on GBM stock on TipRanks’ Stock Analysis page.