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GBM Resources Limited (ASX:GBM)

ALERT: Price-sensitive ASX Announcement for GBM
Current share price for GBM : $0.016 -0.006 (-27.27%)+
Announcement
Release
22 Sep 2026 9:37AM
Price at Release
$0.022
Full Release
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Summary
GBM Resources Limited announced further assay results from its ongoing 50,000m Stage 2 drilling program at the Twin Hills Gold Project in Queensland, aimed at expanding and upgrading confidence in the existing 23.1Mt at 1.3g/t Au for 1.0Moz gold Mineral Resource Estimate across the Lone Sister and 309 deposits. The standout result was from Lone Sister hole LSDH020, which returned 101m at 2.63g/t Au from 256m including 9m at 6.55g/t Au and 4m at 10.35g/t Au, with much of the interval grading materially above the current resource model and supporting potential local grade uplift. At 309, in-resource drilling confirmed broad, high-grade mineralisation with key intersections including 12m at 5.94g/t Au from 112m in TNDH048 and 10m at 4.93g/t Au plus 16m at 2.23g/t Au in TNDH053, while additional mineralisation outside the current resource at holes such as TNDH042, TNDH049 and TNDH036 indicates scope for further resource growth. The company said the program is also improving understanding of geological controls, particularly the continuity of the Milled Matrix Breccia host at 309, and is generating geological, metallurgical and geotechnical data ahead of a planned Mineral Resource update in the December quarter, with about 8,400m of assays still pending.
Key Points
  • ASX announcement dated 22 September 2026 from GBM Resources Limited.
  • The announcement reports further assay results from the Stage 2 drilling program at the Twin Hills Gold Project in Queensland.
  • Twin Hills currently hosts a 23.1Mt at 1.3g/t Au Mineral Resource Estimate for 1.0Moz gold.
  • The existing Twin Hills resource comprises 0.48Moz Au at Lone Sister and 0.52Moz Au at 309.
  • The headline result at Lone Sister was 101m at 2.63g/t Au from 256m in hole LSDH020.
  • LSDH020 included 9m at 6.55g/t Au from 258m and 4m at 10.35g/t Au from 332m.
  • GBM said the LSDH020 result is materially above parts of the current MRE model and supports potential local grade uplift.
  • At 309, hole TNDH048 returned 12m at 5.94g/t Au from 112m including 6m at 11.15g/t Au from 113m.
  • At 309, hole TNDH053 returned 10m at 4.93g/t Au from 207m including 4m at 10.37g/t Au from 212m.
  • Hole TNDH053 also returned 16m at 2.23g/t Au from 241m including 9m at 3.53g/t Au from 245m.
  • Mineralisation outside the current 309 resource included 8m at 1.19g/t Au and 27m at 1.28g/t Au in TNDH042.
  • Further extensional results included 22m at 1.29g/t Au from 142m in TNDH049 and 7m at 1.14g/t Au from 292m in TNDH036.
  • The Stage 2 drilling program is designed to grow the resource, improve confidence and continuity, and define higher-grade zones.
  • The company said drilling is refining structural and geological controls at Lone Sister and confirming continuity at 309.
  • GBM highlighted the importance of the Milled Matrix Breccia as a key host to gold mineralisation at 309.
  • Approximately 8,400m of assay results remained pending, including 6,450m at 309 and 1,950m at Lone Sister.
  • GBM is targeting a Mineral Resource update for Twin Hills in the December quarter.
  • The release also notes Twin Hills lies within the Drummond Basin portfolio, where GBM holds about 1.84Moz of gold resources across flagship assets.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.