GBM Resources Limited (AU:GBZ) has released an update.
GBM Resources Limited has initiated a Reverse Circulation drilling program at the Mount Margaret project in Northwest Queensland, testing for copper-gold mineralization along the Rhea Shear Zone. The drilling campaign, fully funded by partner Nippon Mining of Australia, consists of 15 holes aimed at exploring targets within a magnetic belt known for hosting significant deposits like Ernest Henry mine. With the previous discovery of promising mineralization, GBM’s exploration could potentially uncover an iron oxide copper gold (IOCG) deposit.
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