GME Resources Ltd

Published : April 01st, 2015

Drilling results - Fairfield Gold Prospect

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Drilling results - Fairfield Gold Prospect

Drilling Results

Fairfield Gold Prospect


The Company is pleased to advise that assay results have been received from a recently completed aircore drilling program at the company's 100% owned Fairfield Gold Prospect located 25 kms north of Laverton in the North Eastern Goldfields of WA.

Drilling Highlights

14FAC001 3 metres averaging 17.1 g/t from 42 metres

14FAC006 4 metres averaging 3.6 g/t from 22 metres

14FAC010 2 metres averaging 7.3 g/t from 33 metres

14FAC011 1 metre averaging 9.6 g/t from 1 metres

14FAC014 3 metres averaging 2.0 g/t from 20 metres

The infill program was designed to reduce the drill hole spacing to 25 metre by 25 metre grid and test up dip mineralisation intersected in previous drilling. The program consisting of 14 aircore drill holes totaling 592 metres was spread over 200 metres of the Fairfield strike.
The successful program intersected the targeted lodes in eleven of the fourteen holes, with one hole abandoned due to entering a stope. Mineralisation at Fairfield is hosted by quartz veins associated with the steep west dipping lithological contact between hanging wall basalt and the footwall package of felsic and clastic sediments.
The area was mined in the early part of the 1900's and produced over 400 ounces of gold from
a similar amount of tonnes.
The Company is currently reviewing the latest results in combination with previous drilling to ascertain the economic viability for a small tonnage high grade open pit development. A mining lease has been applied for covering the Fairfield area.
Drilling results and diagrams are shown in APPENDIX 1.

JAMIE SULLIVAN MANAGING DIRECTOR

1 APRIL 2014

GME Resources Limited 247 Balcatta Road Balcatta WA 6021
Ph +618 6180 4690 Fax +618 9315 5475 www.gmeresources.com.au

Competent Person Statement

The information in this report that relates to Exploration Results is based on information compiled by Mr Mark Hill who is a member of The Australasian Institute of Geoscientists. Mr Hill is a Principal Consultant with Exman Consultancy. Mr Hill has sufficient experience, which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Mineral Resources and Ore Reserves. Mr Hill consents to the inclusion in the report of the matters based on information provided in the form and context in which it appears.

GME Resources Limited 247 Balcatta Road Balcatta WA 6021
Ph +618 6180 4690 Fax +618 9315 5475 www.gmeresources.com.au

APPENDIX 1 Fairfield diagrams and tables

448200mE

448300mE

GME

[email protected]/t 14FAC014 rtf'

[email protected]/t /

14FAC013

Key

+

6853600mN

"""""-'-----

.. _.'

[email protected]/t

2014 hole showing

gold mineralisation

e Pre 2014 hole showing gold mineralisation

14FAC012 ç}'> v'ò

{l,

ti_ 14

011

[email protected]/[email protected]/t

F 1m:9.6g/t & [email protected]/t

4m_2.35g/t

6853550mN

[email protected]/t

5m

2m

(J'ò 0,

,

ti_

. ------------ 1m @ 1 .3 g/t

,2m-"'@=3"'.6"'q/_t,_-- -- - ' '

14Foos

14FAC007

[email protected]/[email protected]/t

2m @ 8 .0 g/t -------------' "'-·------------------3m @ 1 .5 g/t

6853500mN

[email protected]/t& [email protected]/t 14F,_o_o6

_4,_m,-"'@=3."'69...,11

46mm @:2.28/rt

0

0di"

6853450mN

:6m:@""@"""-'7"'."'4"'-:t""',,-_-_ - -. '..c.'.,.',,l----- ''

ee'.:'...-

""---l8 m @ 2 .0 g /t

14FAC001

'

tt":>'ò

'[email protected]/t. [email protected]/t & [email protected]/t

••"--------""-"-"'"-'-"""-"-""- -""''-'-"'""'--"=""-"'"'-

_- '\" 14FAC002 [email protected]/t

3m @ 1 7- 0g /t ---------· ••--------

[email protected]/t _/ GME Resources Limited

Fairfield Project

E38/1876

[email protected]/t

[email protected]/t

Drill Hole Pian

GME Resources Limited 247 Balcatta Road Balcatta WA 6021

Ph +618 6180 4690 Fax +618 9315 5475

IMMN.gmeresources.com.au



GME Resources Limited 247 Balcatta Road Balcatta WA 6021
Ph +618 6180 4690 Fax +618 9315 5475 www.gmeresources.com.au

Table 1 Complete set of drilling results for Fairfield Gold Prospect

2014 Program hole prefix 14FAC001 - 14FAC014

Hole_ID

MGA_E

MGA_N

mFrom

mTo

Metres

Au Intercept

14FAC001

448240

6853430

42

45

3

3m @ 17.08 g/t

14FAC001

448240

6853430

53

54

1

1m @ 1.16 g/t

14FAC002

448257

6853428

25

26

1

1m @ 1.36 g/t

14FAC004

448271

6853469

23

25

2

2m @ 1.44 g/t

14FAC005

448242

6853472

28

29

1

1m @ 1.56 g/t

14FAC006

448262

6853489

22

26

4

4m @ 3.56 g/t

14FAC007

448278

6853516

1

2

1

1m @ 1.23 g/t

14FAC007

448278

6853516

8

9

1

1m @ 1.58 g/t

14FAC007

448278

6853516

13

15

2

2m @ 3.59 g/t

14FAC008

448259

6853516

16

19

3

3m @ 1.46 g/t

14FAC008

448259

6853516

29

30

1

1m @ 1.20 g/t

14FAC009

448282

6853537

1

8

7

7m @ 1.48 g/t

14FAC010

448261

6853540

21

22

1

1m @ 1.07 g/t

14FAC010

448261

6853540

28

29

1

1m @ 3.98 g/t

14FAC010

448261

6853540

33

35

2

2m @ 7.27 g/t

14FAC011

448267

6853567

2

3

1

1m @ 9.64 g/t

GME Resources Limited 247 Balcatta Road Balcatta WA 6021
Ph +618 6180 4690 Fax +618 9315 5475 www.gmeresources.com.au

Table 1 Complete set of drilling results for Fairfield Gold Prospect (Continued)

Hole_ID

MGA_E

MGA_N

mFrom

mTo

Metres

Au Intercept

14FAC011

448267

6853567

13

16

3

3m @ 1.16 g/t

14FAC014

448233

6853592

20

23

3

3m @ 2.01 g/t

FAC001

448263

6853541

22

24

2

2m @ 1.32 g/t

FAC001

448263

6853541

32

34

2

2m @ 36.30 g/t

FAC004

448269

6853433

0

2

2

2m @ 1.19 g/t

FAC004

448269

6853433

6

8

2

2m @ 1.33 g/t

FAC004

448269

6853433

14

16

2

2m @ 1.33 g/t

FAC004

448269

6853433

20

22

2

2m @ 2.13 g/t

FAC005

448264

6853440

8

10

2

2m @ 1.10 g/t

FAC005

448264

6853440

14

16

2

2m @ 1.11 g/t

FAC005

448264

6853440

20

28

8

8m @ 2.02 g/t

FAC006

448258

6853440

28

32

4

4m @ 2.75 g/t

FAC009

448256

6853404

12

14

2

2m @ 2.00 g/t

FR12

448253.2

6853563

26

30

4

4m @ 2.35 g/t

FR14

448262.3

6853529

20

21

1

1m @ 1.30 g/t

FR16

448262.7

6853540

26

35

9

9m @ 2.55 g/t

FR20

448243.3

6853576

23

25

2

2m @ 2.12 g/t

FR24

448237.1

6853589

18

20

2

2m @ 2.00 g/t

FR3

448229.4

6853415

46

52

6

6m @ 4.48 g/t

FR33

448284.8

6853615

7

9

2

2m @ 1.55 g/t

FR34

448263.8

6853615

32

35

3

3m @ 1.00 g/t

FR35

448261.6

6853490

25

27

2

2m @ 1.25 g/t

FR37

448255.8

6853440

30

37

7

7m @ 2.08 g/t

FR38

448244.8

6853424

33

35

2

2m @ 3.00 g/t

FR6

448252.7

6853466

24

26

2

2m @ 9.60 g/t

FR6

448252.7

6853466

34

36

2

2m @ 1.80 g/t

FRC12

448251.7

6853541

32

37

5

5m @ 9.39 g/t

FRC12

448251.7

6853541

42

44

2

2m @ 8.40 g/t

FRC13

448231.5

6853564

34

36

2

2m @ 7.95 g/t

FRC14

448240.7

6853516

56

57

1

1m @ 1.96 g/t

FRC2

448234.5

6853440

55

56

1

1m @ 43.50 g/t

FRC3

448250.1

6853465

26

27

1

1m @ 3.39 g/t

FRC3

448250.1

6853465

35

38

3

3m @ 4.92 g/t

FRC3

448250.1

6853465

42

44

2

2m @ 3.71 g/t

FRC3

448250.1

6853465

50

52

2

2m @ 1.68 g/t

FRC5

448239.7

6853490

50

51

1

1m @ 1.06 g/t

FRC5

448239.7

6853490

56

57

1

1m @ 1.01 g/t

FRC6

448242.6

6853564

29

31

2

2m @ 1.94 g/t

FRC6

448242.6

6853564

37

43

6

6m @ 1.86 g/t

FRC7

448241.4

6853541

42

43

1

1m @ 1.24 g/t

FRC7

448241.4

6853541

49

55

6

6m @ 15.65 g/t

FRC8

448230.4

6853516

69

71

2

2m @ 3.62 g/t

GME Resources Limited 247 Balcatta Road Balcatta WA 6021
Ph +618 6180 4690 Fax +618 9315 5475 www.gmeresources.com.au

APPENDIX 2

JORC 2012 Table 1

Section 1 Sampling Techniques and Data

Criteria

Explanation

Sampling Techniques

The mineralisation is sampled by aircore (AC). A total of 14 AC holes have been drilled to a maximum depth of 66m. Holes were drilled angled at 60O towards magnetic east, which is the optimal drilling orientation for the mineralised lodes.

Drilling Techniques

Drilling was by 3.5 inch diameter, face sampling aircore by Challenge Drilling.

Drill sample recovery

Sample recoveries are logged visually as weak, medium or good, with the majority being

'good'. Overall recoveries are >90% and there are no significant sample recovery

problems except where drilling has intersected historical underground mine workings.

Logging

Logging of drill chips records lithology, mineralogy, veining, weathering, colour and other features of the samples. All drill hole samples were logged and chips from each metre were placed in a plastic chip tray for later reference.

Sub-sampling techniques and sample preparation

Samples were collected from 1 metre intervals from the drill rigs cyclone and discharged into a cone splitter adjusted to split off 1/8th of the whole sample, sample size was typically 3 to 3.5kg which is considered industry standard sample size for quartz vein hosted gold mineralisation.

All samples in the mineralised zones were dry.

The samples were submitted to the SGS KalAssay Laboratory in Leonora.

The samples were dried, pulverised to a grind size of minus 75 micron fraction and a 40 gram sub-sample was split for analysis.

Sample preparation checks for fineness were carried out by the laboratory as part of their internal procedures to ensure the grind size of 85% passing 75 micron was being attained.

A field duplicate sample was taken at random at a rate of 1 duplicate sample per 20 metres using a spear to extract a sample from the rejects bag. The variation between the original sample Au grade and the duplicate sample Au grades were within acceptable limits suggesting there was no sampling bias.

A blank sample of clean washed white quartz sand was also inserted at a rate of 1 per

20 metres, typically in the mineralised zone. The analytical grade of the blanks were below detection level, indicating there was no cross contamination of sample in the laboratory sample preparation process.

Geostats certified gold standards were inserted at a rate of 1 sample per 20 metres. Three different Geostats standards were used with gold grades ranging from 1.37g/t to

5.84g/t Au. The variation between the certified gold grade and the analysed gold grades were within acceptable limits suggesting there was no sampling bias.

Quality of assay data and laboratory tests

The analytical technique used a 40 gram Aqua Regia digest, Fire Assay analysis for Au.

No geophysical tools were used to determine any element concentrations used in the grade determinations.

Certified reference materials have been used, inserted at a random rate of 1 duplicate sample per 20 samples, with a bias insertion towards the mineralised zones. Reference materials are used to assess the bias present in the analytical technique. No analytical

GME Resources Limited 247 Balcatta Road Balcatta WA 6021
Ph +618 6180 4690 Fax +618 9315 5475 www.gmeresources.com.au

bias was detected.

Laboratory QAQC involves the use of internal lab standards using certified reference material, blanks, splits and replicates as part of the in house procedures.

Verification of sampling and assaying

External laboratory checks are planned for significant assay results, but have yet to be completed.

Logging data was collected using a set of standard Excel templates on toughbook laptop computers using lookup codes.

The information was sent to Mr M Hill (CP) in Perth office for validation and uploaded into the GME Datashed database.

Location of data points

Hole collars were located by a handheld Garmin GPS in MGA94, Zone 51 datum. Expected accuracy is + or - 5 m for easting, northing coordinates, however surveying using DGPS by surveyors will be undertaken prior to the resource estimate.

No Downhole surveys were conducted due to the shallow depth of the holes.

Data spacing and distribution

The nominal drillhole spacing is 20 metres easting by 25 metres northing along a strike length of 200 metres.

The mineralised domains have demonstrated sufficient continuity in both geological and grade continuity to support the definition of Mineral Resource, and the classifications applied under the 2012 JORC Code

Orientation of data in relation to geological structure

The deposit is drilling towards magnetic east at -60O angle intersect the mineralised lodes at close to perpendicular for the majority of the lodes. The mineralised lodes typically dip 80 O to the west.

No orientation based sampling bias has been identified.

Sample security

Chain of custody is managed by GME contract personnel. Samples were stored onsite and delivered to the Leonora assay lab over a two day period.

Audits or reviews

An internal database review will be undertaken prior to a resource estimate.

Section 2 Reporting of Exploration Results

Criteria

Explanation

Mineral tenement and land tenure status

The Fairfield Prospect is located wholly within the Laverton Downs Project - Exploration

Licence 38/1876.

The tenement is held by GME Resources Ltd.

The tenement is in good standing and no known impediments exist.

Exploration done by other parties

Historic gold workings in the area extend for several hundreds of metres and are intimately associated with a northwest trending granite-greenstone contact. Historic production is some 411 ounces from 416 tons mined during 1912-1914 and 1935-1938 over about 200 metres strike to a depth of about 30 metres.

Delta Gold completed twelve RAB holes (FR1 to FR12) at the Fairfield workings during

1985. This work indicated potential for small high grade shoots at around 25 to 55 metres below surface, with best intersections including 2m grading 8g/t from 50m in FR3, 4m grading 9.75g/t from 24m in FR6 and 2m grading 2.8g/t from 28m in FR12. Golconda Exploration Pty Limited (later Duketon Exploration Limited), in joint venture with Delta Gold, conducted RC drilling (FRC1 to FRC14) and subsequent RAB drilling (holes FR14 to FR40) at the Fairfield workings during 1986 to follow up Delta's earlier

GME Resources Limited 247 Balcatta Road Balcatta WA 6021
Ph +618 6180 4690 Fax +618 9315 5475 www.gmeresources.com.au

RAB intersections. RC hole FRC7 returned an exceptional intersection of 4m grading

23.1g/t Au from 49 metres, FRC12 intersected 3m grading 15g/t Au from 34 metres and

2m grading 8.4g/t Au from 42 metres and FRC13 intersected 2m grading 7.95g/t Au from 34 metres. From this combined drilling a polygonal resource estimate of 32 385 tonnes grading 4.5g/t Au was completed. The mineralisation was interpreted to be located in two small pods. Auger soil sampling to determine along strike extensions to the mineralised trend were also undertaken at this time.

Ashton Gold completed three RC holes (FRC15 to FRC17) at Fairfield in 1991 to test the underground potential on a structurally favourable site. No intersections greater than

0.7g/t Au were achieved.

Geology

The project area consists of a sequence of Archaean Greenstones intruded by granitic rocks, and lies directly on the north-south trending Laverton Tectonic Zone which hosts significant gold deposits including the 1.7 million ounce Lancefield mining centre to the south and the plus 75 000 ounce Cork Tree Well deposit to the north.

The Archaean greenstone sequence includes peridotite, komatiitic basalt, dolerite, chert and BIF and pelitic and psammitic metasediments forming a belt up to seven kilometres wide in the project area bounded by extensive monzogranite bodies. Outcrops of weathered granite, sheared weathered mafics, sediments and banded cherts occur across the tenements. The prospect is locally covered with alluvium, quartz-ironstone float, lateritic gravels and Permian tillite. The Permian sequence is dominant in the south and west and is characterised by featureless clays with quartz grains, and pebbles/cobbles of granitic and mafic origin. It is known to exceed 100m depth in places.

Drill hole Information

Refer to the body of text in this report and appendix 1 for all the information material to the understanding of the exploration results.

Data aggregation methods

All reported assays have been length weighted. No top-cuts have been applied. A

nominal 0.5 g/t lower cutoff is applied for the assays.

High grade gold intervals internal to broader zones of gold mineralisation are reported as included intervals. No metal equivalent values are used for reporting exploration results.

Relationship between mineralisation widths and intercept lengths

The mineralisation is steeply west dipping, striking magnetic north and is drilled to magnetic east with drill holes inclined at -60 degrees. The intersection angles for the drilling are ~ 50 degrees to the mineralised zones. Therefore the reported downhole intersections are approximately 30 - 40% greater than the true width of the intercept.

Diagrams

Refer to APPENDIX 1 of this document.

Balanced reporting

All results are reported.

Other substantive exploration data

None.

Further work

A review of all results and evaluation as to the economic potential of a small high grade open pit development is planned

GME Resources Limited 247 Balcatta Road Balcatta WA 6021
Ph +618 6180 4690 Fax +618 9315 5475 www.gmeresources.com.au

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GME Resources Ltd

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CODE : GME.AX
ISIN : AU000000GME7
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GME Resources is a nickel producing company based in Australia.

GME Resources produces nickel, cobalt in Australia, develops cobalt and nickel in Australia, and holds various exploration projects in Australia.

Its main assets in production are MURRIN NORTH, HEPI and MURRIN MURRIN in Australia, its main assets in development are MT KILKENNY and MACEY HILL in Australia and its main exploration properties are WANBANNA, NIWEST, WAITE KAURI, MERTONDALE, EUCALYPTUS, LINDEN, ILGARARI and BINDAH in Australia.

GME Resources is listed in Australia and in Germany. Its market capitalisation is AU$ 60.3 millions as of today (US$ 43.5 millions, € 38.1 millions).

Its stock quote reached its lowest recent point on June 27, 2003 at AU$ 0.01, and its highest recent level on May 18, 2007 at AU$ 1.12.

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