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  1. #1

    Post GBZ - GBM Resources

    Currently undertaking drilling program at Brightlands Copper Gold Project Mt Isa, testing 2 prospects, Tiger and Tambourine

    re Tiger prospect from today's ann


    RC drilling recently completed at the Tiger prospect has confirmed the presence of a significant fault zone extending through the prospect area which is interpreted as being part of the structural network hosting the Rocklands deposit located some 2 kilometres north of Tiger. The strength of the structural system and associated alteration encountered in the current programme is encouraging and requires deeper testing of the system.

    rocklands is of course cdu's


    another quality post brought to you by happytown inc

  2. #2

    Default Re: GBZ - GBM Resources

    great announcement out this morning

    GBM Signs Letter of Intent with World-Leading Copper Producer
    The worlds largest buyer of copper concentrate, Tokyo-based Pan Pacific Copper Co., Limited, has signed an initial agreement with Australias GBM Resources Limited (ASX: GBZ), which could see the global group spend up to A$55 million on the development of new copper - gold exploration and mining projects in northwest Queensland.
    wish i didnt sell the oppies a few days ago

  3. #3

    Default Re: GBZ - GBM Resources

    A lot of interest in this one today.

    Anyone had a chance to run over the announcement?

    Looks like there is some potential here with the location of its tennements and the Drill results today.

  4. #4

    Smile Re: GBZ - GBM Resources

    Hi folks,

    GBZ ... price up, supported by some volume,
    just as their 2011 drilling program gets started ... !~!

    Update GBZ chart, attached below .....

    Happy Easter to all


    Attached Files

  5. #5
    Make the drill work for YOU springhill's Avatar
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    Default Re: GBZ - GBM Resources

    I dont know anything about GBZ except for the last few announcements. Anyone across this?


     Four drill holes completed confirm a significant northern extension of the Milo mineralised system beyond the resource(*3) outline with significant copper equivalent (CuEq*1) intersections.
     MIL017 intersected 70m @ 0.8% CuEq, including 18 metres @ 1.3% CuEq. MIL018 returned 51 metres @ 0.8% CuEq and MIL019 7m@1.2% CuEq.
     Significant Rare Earth element intersections include 20 metres @ 3,979 ppm in MIL017 and 11 metres @1,382 ppm in MIL020A.
     Mineralisation remains open to the north and south.
     Results continue to confirm that mineralisation identified to date is part of a much larger mineralising system at Milo.

    $3.8million budget approved on Pan Pacific/Mitsui Farm-in Projects in North West Queensland

    • Drilling to commence this month on Pan Pacific/Mitsui Projects.
    • $3.8 million to be spent on Farm-in project areas to 31 March 2013.
    • All 4 project areas have potential for Iron Oxide Copper Gold (IOCG) style deposits.
    • Drilling and field programs will run through to March 2013.
    • GBM to manage the exploration programs.

    From the March quarterly

    Milo IOCG- Rare Earth Project:
     Maiden 82,500 tonne Rare Earth Inferred Resource.
     Current drilling extends the mineralised zone both north and south by over 400m.
     Drill hole MIL011 returned 124m @ 0.5% Cu Eq; including 21m @ 1% Cu Eq with a rare earth elements of 17 m @ 1411ppm of TREEYO.
     Drill hole MIL012 returned 25m @ 1% Cu Eq; including 9m @ 2% Cu Eq with rare earth elements of 24m @ 2457ppm and 18m @ 1460ppm of TREEYO.
     Scoping Study on track for completion midyear.

     GBM acquired the highly prospective Mayfield Exploration Permit (EPM14111) in North West Queensland Mineral Province. IOCG-style targets identified in previous exploration.
     Two large intrusive related gold and copper mineralisation systems discovered near the historical Mt Morgan mine where the company holds 8 licenses covering 1000km2.

     GBM to realise $3.3million in fully paid shares in IPO from the Sale of its 30% interest of the Queensland Phosphate Project. A Shareholder meeting is to be held on 25th May to approve the distribution of 16.5 million fully paid ordinary shares in Swift Resources Ltd in specie to GBM shareholders. This will provide GBM shareholders one fully paid ordinary in listed public company Swift Resources Limited for approximately every 14.4 GBM shares.

     On 16 April GBM received firm commitments to place the balance left within the Company’s 15% capacity of 16.7million shares at an issue price of 8 cents per share to raise approximately $1.3million. Tranche one was completed on 24 April with the issue of 6,812,500 shares. Settlement of Tranche two of $755,000 is scheduled for 10 May.
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