Drummond Gold Limited

Published : September 30th, 2015

Significant Gold Mineralisation identified at Mount Coolon

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Significant Gold Mineralisation identified at Mount Coolon

Bimurra Project Perseverance-Elizabeth Exploration Target



ASX Announcement 21 September 2015

GBM Identifies Significant Gold Mineralisation at Bimurra Gold Project, Mount Coolon Gold Mines

  • Extensive gold mineralisation confirmed in historical data within the Bimurra Hydrothermal system.

  • The exploration potential for the Perseverance-Elizabeth area has been quantified after modeling of gold mineralization in multiple zones over a 500 metre strike length.

  • An Exploration Target range for the Perseverance-Elizabeth area of the Bimurra Prospect of between 10 million tonnes at an average grade of 0.7 g/t Au containing an estimated 230,000 ounces of gold and 4 million tonnes at an average grade of 1.2 g/t Au containing an estimated 120,000 ounces of gold has been estimated.

    It should be noted that the potential quantity and grade is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

  • GBM continues to process a large quantity of data and has identified other prospects which may host additional oxide and sulphide mineralisation.


Australian resources company GBM Resources Limited (ASX: GBZ) ('GBM' or 'the Company') is pleased to announce that a review of the exploration data available has identified extensive gold mineralisation at the Bimurra Gold Prospect, part of the Company's 100% owned Mount Coolon Gold Project, located near Charters Towers in Central Queensland.


ABN 91 124 752 745


ASX Code: GBZ COMPANY DIRECTORS


Peter Thompson

Managing Director/ Executive Chairman


Neil Norris

Exploration Director - Executive


Frank Cannavo

Non -Executive Director


Hun Seng Tan

Non- Executive Director


CONTACT DETAILS


Principal & Registered Office

Suite 8, 7 The Esplanade, Mt Pleasant, WA 6153


Exploration Office

10 Parker Street,

Castlemaine, Victoria 3450


Website

www.gbmr.com.au


Email [email protected] Phone

+61 (8) 9316 9100


Fax

+61 (8) 9315 5475


Phone (Exploration Office)

+61 (3) 5470 5033

Executive Chairman, Peter Thompson said the review had confirmed GBM's expectations of the gold potential at Mt Coolon.

'We believe that the Mt Coolon Gold Project area has the potential to host large scale gold mineralisation, and we have yet to fully analyse the large quantity of exploration data that we believe has the potential to identify other prospects that may host additional oxide and sulphide mineralisation. It certainly has the potential to be a significantly large mineralising hydrothermal system and we intend to investigate it in its entirety.'

Bimurra is a separate prospect area to the three main deposits (Eugenia, Koala and Glen Eva) which contribute to the Resources at the Mount Coolon Gold Project which were recently upgraded to comply with the guidelines of the JORC code (2012 edition) - refer ASX release 27 August 2015. These resources contain a total of 268,600 ounces of gold.


Project

Location

Resource Category

Total


000' t Au g/t Au ozs

Cut-off

Measured

000' t Au g/t Au ozs

Indicated

000' t Au g/t Au ozs

Inferred

000' t Au g/t Au ozs

Koala


Eugenia


Glen Eva

Hecorina Pit

15

2.6

1,300

15

2.6

1,300

None

Underground Extension

205

5.9

39,600

62

5.3

10,600

267

5.7

49,300

3

Tailings

305

1.6

15,800

11

1.6

500

6

1.5

300

322

1.6

16,700

None

Total

305 1.6 15,800 231 5.5 40,400 68 5.0 10,900 604 3.5 67,200 0

Oxide

1,445

0.9

43,300

252

1.2

9,700

1,698

1.0

53,000

0.4

Sulphide

2,306

0.9

66,100

1,007

1.4

45,200

3,313

1.04

111,300

0.4

Total

3,751 0.9 109,400 1,260 1.4 54,900 5,011 1.0 164,300 0.4

Below pit.

132

7.8

33,200

21

5.9

4,000

154

7.5

37,200

3.0

Total

305 1.6 15,800 4,114 1.4 183,000 1,349 1.6 69,800 5,769 1.4 268,600

Table; Mount Coolon Gold Mines Global Resource Summary August 2015. Please note rounding (1000's tonnes, 100's ounces,

0.1 g/t) may cause minor variations to totals.


Figure: Mt Coolon project tenement group location plan.

Mineralisation

The Bimurra Prospect is located in the Drummond Basin, approximately 200 km inland from the coastal town of Mackay in Queensland. The Drummond Basin has been a major gold producer since the recognition of the significance of epithermal mineralising systems lead to the discovery of a number of gold deposits in the area in the 1980's including Wirralie, Pajingo and Yandan. A gold endowment in excess of 7 million ounces has been identified in the Drummond Basin to date.

The Bimurra Prospect represents a large mineralising hydrothermal system (The Bimurra Hydrothermal System) hosting numerous prospects and mineral occurrences, almost all fit into the styles generally associated with epithermal low sulphidation mineralising systems. Previous explorers have identified and named nine gold prospects; Blenheim, Hilltop, Perseverance, Elizabeth, Bimurra East, Camp Creek, Ramillies, Bungobine Peak and Bimurra North East. In addition, a number of conceptual targets have been identified based on structural interpretation, soil and rock chip geochemistry. The area is also dotted with occasional unnamed pits and shafts from previous prospecting activity.

GBM is in the process of locating and compiling data from previous explorers and to date have assembled a data set which includes analyses, survey information and geological data including 9,285 samples from 130 drillholes. Initial interpretation and modelling is now well advanced for the main Bimurra mineral occurrence, which includes the Perseverance and Elizabeth zones, the two most intensely tested areas by previous explorers. Detailed mapping has identified numerous continuous and semicontinuous zones of chalcedonic quartz veining, stockwork and brecciation. Rock sampling and drill testing, both Diamond and reverse circulation percussion, has confirmed that gold mineralisation continues to depth and over significant strike lengths.

Intercepts of the Perseverance Zone include a number of quartz veins with 0.5 - 4 metre widths and moderate gold grades in 5 - 10 g/t Au range (most notably in PDHBIMS23, PDHBIMS28, and PDHBIMS32). Veins occur within envelopes of discontinuous low grade stockwork with widths up to 100 m and grades in 0.3 - 3 g/t Au range (PDHBIMS25, PDHBIMS39, PDHBIMS14). See table in appendix for detailed summary of historical drill intersections.

The Elizabeth Lode breccia, to the south of the Perseverance lode is approximately 250 m long and 40 metres wide and represents an excellent exploration target that remains widely untested by previous drilling (Tate, N.M., 2001). Hydrothermal breccias, such as that found at Elizabeth Lode were not recognised as economically significant by previous explorers and were apparently too low grade at surface to attract historical miners. However, previous work by Delta Gold Limited identified the potential of these zones, particularly when associated with major structures (Bungobine Anticline), as they represent large zones of very high fluid flow on and consequently indicate substantial potential for bonanza type breccia and lode style mineralisation at depth. The predominance of chalcedonic silica and quartz textures in the breccias are exposed well above the zone of gold deposition in typical epithermal systems. Potentially high grade bonanza gold mineralisation is likely to commence at depths of 100-300 m below the present surface (Tate, N.M., 2001).

Exploration Target for the Bimurra Prospect

Previous exploration results for the area historically referred to as the Bimurra Prospect (including the Perseverance Lode and part of the Elizabeth Breccia) has been compiled and a preliminary three dimensional model created encompassing a series of broad zones of gold mineralisation and associated quartz veining. This model was created to allow the near surface potential (maximum depth of model is 180 metres below surface) of the area to be evaluated as an exploration target. This model is intended only to provide an estimate of the potential of these two prospect areas. The model utilises broad search radii of up to 200 metres where supported by indications of geological continuity of the zones, but where drilling density would not otherwise permit grade estimation and is neither rigorous or detailed enough to be considered a resource estimate. The estimate utilised the 3D Discover software voxel process (Inverse Distance weighting). The total Voxel volume was checked against the volume of the 3D model and was in agreement to less than 10 % which is considered sufficient for estimation of an exploration target.

Based on the model an exploration target range has been selected which reflects the uncertainty in a number of areas with broadly spaced data, and also the alternative ways in which the deposit could be modelled i.e. higher grade lodes verses broad lower grade stockwork or vein zones. The target range is highlighted on the pseudo- grade tonnage curve produced by applying an assumed specific gravity of 2.5 t/m3 to the output volumes from the voxel model.

GBM have estimated an exploration target range for the Bimurra mineralisation of between 10M tonnes at an average grade of 0.7 g/t Au containing an estimated 230,000 ounces of gold and 4M tonnes at an average grade of 1.2 g/t Au containing an estimated 120,000 ounces of gold. It should be noted that the potential quantity and grade is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. It should be emphasised that this target estimate does not consider the potential for bonanza grade veins or shoots to exist in the Bimurra Prospect either near surface, or at depth.


Figure. Exploration target range shown over a pseudo-grade-tonnage curve created from the outputs of a voxel model of the Perseverance-Elizabeth area exploration mineralisation model. It should be noted that the potential quantity and grade is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

Figure; North East facing view of the Perseverance-Elizabeth mineralisation model with voxel block grades (g/t Au) identified by legend.

Forward Programme

Completion of detailed data base compilation for the Bimurra area is expected to lead to estimation of a mineral resource for the more intensively drill tested portion of the Exploration Target area. This will be completed in conjunction with compilation of data from other deposits in the area which may hold potential for additional resources to be added in the near future based largely on historical work. Other proximal GBM prospects with potential include Wobegong and Red Flag Hill. If drill core from previous programmes can be located, check sampling, character sampling and petrography will also be completed to assist in understanding the system level that is exposed at Bimurra. Previous workers have indicated that the observed mineralisation is high in the epithermal system and that potential for bonanza grade veins may exist at depth.

In addition the Company is investigating options to fast track other prospects at the Mt Coolon Gold Project to gold production. Quotes for a scoping study to evaluate the feasibility of commencing a heap leach operation to extract gold from oxide resources at Eugenia are currently being considered.

Background to Mount Coolon Gold Project

In January GBM announced the signing of a binding Share Sale Agreement ('SSA') with Drummond Gold Limited (ASX: DGO) pursuant to which GBM would acquire a 100% interest in all of the issued capital of Mt Coolon Gold Mines Pty Ltd. This transaction was completed during April (see ASX release dated 13th April 2015). The project is located 250km west of Mackay in Queensland in the northern Drummond Basin. The Drummond Basin is an established gold mining region with past production of more than 4.5 Mozs and a total known gold endowment of over 7.5 Mozs of gold. Deposit styles range from bonanza grade epithermal veins (eg. Pajingo 3.0 M ozs) to bulk tonnage intrusive related gold deposits (eg. Mt Leyshon 2.1 M ozs).


For Further information please contact:

Peter Thompson Karen Oswald

Managing Director Marko Communications

GBM Resources Limited Tel: + 0423 602 353

Tel: 08 9316 9100 Email: [email protected]


About GBM Resources

GBM Resources Ltd (ASX: GBZ) is an Australian resource company that listed on the ASX in 2007, headquartered in Perth WA, with exploration operations in Victoria and Queensland.

The Company's primary focus is in key commodities of gold and copper-gold, assets in Australia. GBM tenements cover an area greater than 4,300 square kilometres in eight major projects areas in Queensland and Victoria.

GBM also has a substantial interest in the Lubuk Mandi gold project in Malaysia.

GBM is prioritizing the exploration and development of the Mount Coolon Gold Project and Mount Morgan Gold Copper Project along with ongoing exploration conducted as under the PPC-Mitsui Farm-In Agreement.

Notes

The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Neil Norris, who is a Member of The Australasian Institute of Mining and Metallurgy and The Australasian Institute of Geoscientists. Mr Norris is a full-time employee of the company, and is a holder of shares and options in the company. Mr Norris has sufficient experience which is relevant to the style of mineralisation 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 Exploration Results, Mineral Resources and Ore Reserves'. Mr Norris consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the respective announcements and all material assumptions and technical parameters underpinning the resource estimate with those announcements continue to apply and have not materially changed.


References.

Tate, N.M., (GeoMap). (2001). Geology of the Bimurra Prospect MDL22 Drummond Basin North Queensland. Delta Gold Limited Internal report.

Denaro, T. J., Kyriazis, Z., Fitzell, M. J., Morwood, D. A., & Burrows, B. E. (2004). Mines, mineralisation and mineral exploration in the Northern Drummond Basin, Central Queensland, Queensland Geological Record 2004/06.

Queensland Government, Natural Resources and Mines.


s

Figure; Bimurra collar location plan of the Bimurra Prospect area including mapped quartz veins and breccia (after Tate 2001).

HOLE_ID

EASTING

NORTHING

RL

HOLE TYPE

TOTAL DEPTH

DIP

MAG AZI

NAT AZI

COMPANY

DATE COMPLETED

BIM001

538289.12

7668922.67

346

DD

188

-50

357

5

Samantha

6/14/80

BIM002

538295.21

7669103.08

355

DD

151

-50

86

94

Samantha

6/22/80

BIM003

538325.83

7668846.19

344

DD

153.2

-50

356

4

Kennecott

10/21/81

BIM004

538513.98

7669209.47

356

DD

203.5

-45

221

229

Kennecott

11/3/81

BIM005

538300.05

7669357.31

353

DD

151

-50

156

164

Kennecott

11/9/81

BIM006

538465.52

7669115.81

355

DD

96.8

-50

221

229

Kennecott

11/12/81

B001

539200.33

7669620

330.053

DD

198.5

-49.5

177

185

BHP

1/1/86

B002

539487.89

7669409

312.664

PERC

150

-60

177

185

BHP

1/1/86

B003

539198.46

7669429.5

327.585

PERC

150

-60

176.5

184.5

BHP

1/1/86

B004

538821.25

7668932.5

360.942

PERC

150

-58

186

194

BHP

1/1/86

B005

538918.84

7669396

331.356

PERC

150

-60

356.5

4.5

BHP

1/1/86

B006

538686.27

7669460

334.078

PERC

150

-61

42

50

BHP

1/1/86

B007

538517.41

7669464.5

345.41

PERC

150

-60

65

73

BHP

1/1/86

B008

537823.11

7668667.01

349.397

PERC

150

-60

177.5

185.5

BHP

1/1/86

B009

537880.73

7668425.01

346.369

PERC

150

-60

6

14

BHP

1/1/86

B010

537723.2

7668414.51

352.513

PERC

150

-61

38

46

BHP

1/1/86

B011

538353.32

7669685

332.609

PERC

150

-90

352

360

BHP

1/1/86

B012

538586.98

7669479

337.372

PERC

150

-60

38

46

BHP

1/1/87

B013

539191.88

7669645

325.786

PERC

150.6

-59

176

184

BHP

1/1/87

B014

538393.94

7669455.5

346.347

PERC

100

-60

356

4

BHP

1/1/87

B015

538441.1

7669599

333.166

PERC

50

-57

178

186

BHP

1/1/87

B016

538398.53

7669602.5

331.028

PERC

50

-60

356

4

BHP

1/1/87

B017

538307.91

7669688

323.807

PERC

50

-60

358

6

BHP

1/1/87

B018

538259.77

7669732

325.085

PERC

50

-59

178

186

BHP

1/1/87

B019

538259.66

7669686.5

325.527

PERC

50

-61

175

183

BHP

1/1/87

B020

538299.27

7669630.5

330.71

PERC

50

-58

353

1

BHP

1/1/87

B021

538350.33

7669621.5

328.078

PERC

50

-60

176

184

BHP

1/1/87

B022

538402.98

7669685

336.662

PERC

74

-61

86

94

BHP

1/1/87

B023

538444.12

7669677

335.256

PERC

50

-60

177

185

BHP

1/1/87

B024

538461.32

7669753

329.416

PERC

64

-59

177

185

BHP

1/1/87

B025

538404.57

7669758.5

332.351

PERC

50

-59

355

3

BHP

1/1/87

B026

538359.18

7669766.5

330.019

PERC

50

-59

178

186

BHP

1/1/87

B027

538315.2

7669771.5

332.545

PERC

50

-60

176

184

BHP

1/1/87

B028

538256.73

7669646

332.722

PERC

50

-59

356

4

BHP

1/1/87

B029

538252.34

7669588

338.152

PERC

50

-61

356

4

BHP

1/1/87

B030

538260.75

7669541.5

342.227

PERC

50

-60

356

4

BHP

1/1/87

B031

538256.38

7669493

353.889

PERC

50

-63

353

1

BHP

1/1/87

B032

538240.65

7669443.5

354.081

PERC

52

-60

356

4

BHP

1/1/87

B033

538196.93

7669558

347.729

PERC

90

-60

157

165

BHP

1/1/87

B034

537743.09

7668422.01

353.779

PERC

46

-60

345

353

BHP

1/1/87

B035

539099.27

7668889.5

330.677

PERC

30

-60

356

4

BHP

1/1/87

B036

539097.83

7668878.5

331.733

PERC

30

-60

356

4

BHP

1/1/87

B037

539097.81

7668870

332.423

PERC

30

-60

356

4

BHP

1/1/87

DDHS001

538345.64

7668819.87

344

DD

413

-50

176

184

Geo-Menz

1/1/85

DDHS002

538561.86

7669051.7

337

DD

458

-50

176

184

Geo-Menz

1/1/85

DDHS003

538243.37

7668778.08

340

DD

199

-60

178

186

Geo-Menz

1/1/85

DDHS004

538440.57

7668762.83

340

DD

201.6

-60

176

184

Geo-Menz

1/1/85

PDHBIMS5

538275.56

7669197.58

330

PERC

144

-60

177

185

Geo-Menz

1/1/86

PDHBIMS6

537567.25

7668471.81

373

PERC

150

-60

357

5

Geo-Menz

1/1/86

PDHBIMS7

537399.89

7668503.06

367

PERC

114

-90

0

8

Geo-Menz

1/1/86

PDHBIMS8

537249.51

7668514.64

356

PERC

152

-60

330

338

Geo-Menz

1/1/86

PDHBIMS9

538312.66

7668672.31

335

PERC

68

-90

0

8

Geo-Menz

1/1/86

PDHBIMS10

537248.63

7668755.34

348

PERC

144

-60

356

4

Geo-Menz

1/1/86

PDHBIMS11

537305.78

7668928.89

356

PERC

144

-60

356

4

Geo-Menz

1/1/86

PDHBIMS12

537385.06

7668847

383.932

PERC

98

-90

352

360

Geo-Menz

1/1/86

PDHBIMS13

537810.61

7668786.53

366

PERC

82

-90

352

360

Geo-Menz

1/1/86

PDHBIMS14

538110.51

7669004.97

347.5

PERC

114

-60

356

4

Geo-Menz

1/1/86

PDHBIMS15

538164.57

7669678.93

320

PERC

112

-60

356

4

Geo-Menz

1/1/86

PDHBIMS16

537971.84

7669792.18

312

PERC

144

-60

330

338

Geo-Menz

1/1/86

PDHBIMS17

537780.03

7669687.05

360

PERC

112

-60

330

338

Geo-Menz

1/1/86

PDHBIMS18

537755.81

7668401.06

340

PERC

120

-60

356

4

Geo-Menz

1/1/86

PDHBIMS19

538562.27

7668618.01

330

PERC

82

-60

357

5

Geo-Menz

1/1/87

PDHBIMS20

537269.04

7668995.38

350

PERC

120

-60

177

185

Geo-Menz

1/1/87

PDHBIMS21

537305.67

7668878.18

361

PERC

128

-60

357

5

Geo-Menz

1/1/87

PDHBIMS22

537500.69

7669156

318

PERC

106

-60

315

323

Geo-Menz

1/1/87

PDHBIMS23

538160.16

7668996.77

351

PERC

114

-60

357

5

Geo-Menz

1/1/87

PDHBIMS24

538110.67

7669074.64

360

PERC

128

-60

177

185

Geo-Menz

1/1/87

PDHBIMS25

538063.71

7669014.6

345

PERC

76

-60

357

5

Geo-Menz

1/1/87

Bimmura Collar Table

All holes are complete and are reported in MGA94 Zone S 55. This table contains all holes in the Bimmura regional database.


HOLE_ID

EASTING

NORTHING

RL

HOLE TYPE

TOTAL DEPTH

DIP

MAG AZI

NAT AZI

COMPANY

DATE COMPLETED

PDHBIMS26

538332.78

7669394.98

345

PERC

106

-60

357

5

Geo-Menz

1/1/87

PDHBIMS27

538329.47

7669190.31

354

PERC

53

-60

357

5

Geo-Menz

1/1/87

PDHBIMS28

538217.12

7669081.95

365

PERC

136

-60

180

188

Geo-Menz

1/1/87

PDHBIMS29

538310.63

7669021.35

348

PERC

100

-60

357

5

Geo-Menz

1/1/87

PDHBIMS30

538492.63

7669182.83

350

PERC

91

-60

357

5

Geo-Menz

1/1/87

PDHBIMS31

538417.26

7669110.58

355

PERC

108

-60

357

5

Geo-Menz

1/1/87

DDHBIMS32

538111.94

7669006.95

350

DD

87.1

-20

357

5

Geo-Menz

1/1/87

DDHBIMS33

538291.53

7669350.93

347

DD

168.8

-30

357

5

Geo-Menz

1/1/87

DDHBIMS34

538322.32

7669169.6

356

DD

180.7

-20

357

5

Geo-Menz

1/1/87

DDHBIMS35

538458.43

7669117.41

354

DD

163.4

-21

267

275

Geo-Menz

1/1/87

DDHBIMS36

538411.4

7669033.49

348

DD

150.5

-10

357

5

Geo-Menz

1/1/87

DDHBIMS37

538315

7669070.76

353

DD

157.8

-20

357

5

Geo-Menz

1/1/87

DDHBIMS38

538188.39

7668931.4

351

DD

46.6

-21

357

5

Geo-Menz

1/1/87

DDHBIMS39

538104.71

7668947.74

342

DD

161.3

-40

357

5

Geo-Menz

1/1/87

DDHBIMS40

538008.24

7668956.26

338

DD

58.5

-30

357

5

Geo-Menz

1/1/87

DDHBIMS40A

537989.8

7668960.5

348.449

DD

146.5

-30

357

5

Geo-Menz

1/1/87

DDHBIMS41

538294.52

7668805.89

341

DD

51.6

-20

357

5

Geo-Menz

1/1/87

DDHBIMS42

538306.24

7668963.11

345

DD

147.8

-20

177

185

Geo-Menz

1/1/87

DDHBIMS43

538304.84

7668971.68

345

DD

121

-20

357

5

Geo-Menz

1/1/87

RCDHBIMS44

538011.85

7669293.5

363.81

RC

180

-60

357

5

Perilya

1/1/88

RCDHBIMS45

537926.86

7669362

350.71

RC

180

-60

357

5

Perilya

1/1/88

RCDHBIMS46

537912.36

7669225

345.588

RC

180

-60

357

5

Perilya

1/1/88

RCDHBIMS47

537905.04

7669125

342.329

RC

186

-60

357

5

Perilya

1/1/88

RCDHBIMS48

537894.88

7669026.5

351.92

RC

180

-60

357

5

Perilya

1/1/88

RCDHBIMS49

537792.91

7669113.5

342.463

RC

180

-60

357

5

Perilya

1/1/88

RCDHBIMS50

537794.55

7669210

338.777

RC

180

-60

357

5

Perilya

1/1/88

RCDHBIMS51

538023.45

7669404

343.22

RC

108

-60

357

5

Perilya

1/1/88

RCDHBIMS52

538125.56

7669374.5

359.467

RC

132

-60

357

5

Perilya

1/1/88

RCDHBIMS53

537762.87

7669006.5

353.325

RC

180

-60

357

5

Perilya

1/1/88

RCDHBIMS54

537832.12

7668887

364.446

RC

180

-60

357

5

Perilya

1/1/88

DDHBIMS55

537770.16

7669092.93

340

DD

138.79

-56

176

184

Geo-Menz

1/1/89

DDHBIMS56

537775.7

7669032.87

345

DD

428.5

-44

173.5

181.5

Geo-Menz

1/1/89

DDHBIMS57

538008.32

7668994.96

340

DD

395.1

-53

176.5

184.5

Geo-Menz

1/1/89

DDHBIMS58

537975.58

7668950

335

DD

320

-49.5

88

96

Geo-Menz

1/1/89

DDHBIMS59

538019.97

7669125

345

DD

542.2

-55

176

184

Geo-Menz

1/1/89

BIM060

537610.96

7668973.91

347

RC

252

-60

177

185

Ross

8/6/97

BIM061

537596.33

7668779.21

381

RC

258

-60

357

5

Ross

8/6/97

BIM062

537575.86

7668511.38

360

RC

192

-60

177

185

Ross

8/6/97

BIM063

538191.35

7668983.5

358.35

RC

252

-60

357

5

Ross

8/6/97

BIM064

538210.37

7669233.5

355.388

RC

168

-60

177

185

Ross

8/6/97

BIM065

537814.53

7669261

338.55

RC

252

-65

177

185

Ross

8/6/97

BIM066

537176.19

7668724.51

354.893

RC

240

-60

357

5

Ross

8/6/97

BIM067

538036.57

7669553.5

339.385

RC

228

-60

357

5

Ross

8/6/97

BIM068

538223.51

7669394.5

351.091

RC

198

-60

357

5

Ross

8/6/97

BIMD069

537184.65

7668700.01

354.83

DD

177.47

-60

172

180

Delta

11/18/01

BIMD070

537318.04

7668702

364.67

DD

225.6

-60

172

180

Delta

11/18/01

BIMD071

537350.45

7668601

366.32

DD

171.59

-60

172

180

Delta

11/18/01

BIMC072

537314.56

7668417.01

359.8

RC

150

-60

352

360

Delta

11/15/01

BIMD073A

537486

7668307.01

358.89

RC

84

-60

20

28

Delta

11/15/01

BIMD073B

537484.58

7668307.01

358.89

DD

213.6

-60

12

20

Delta

11/18/01

BIMC074

537471

7668577.01

374.32

RC

160

-60

172

180

Delta

11/15/01

BIMC075

537420.35

7668765

375.78

RC

180

-60

172

180

Delta

11/15/01

BIMC076

537459.13

7668349.01

362

RC

108

-60

172

180

Delta

11/15/01

BIMC077

537521.58

7668354.01

367

RC

108

-60

172

180

Delta

11/15/01

BIMC078

537909

7668998

350

RC

168

-60

172

180

Delta

11/15/01

BIMC079

537366.29

7668704

365

RC

180

-60

172

180

Delta

11/15/01

BIMD080

537316.71

7668741.01

358

DD

219.2

-60

172

180

Delta

11/18/01

BIMC081

538028.19

7668993

345

RC

156

-60

172

180

Delta

11/15/01

BIMD082

538117.26

7668855

341

DD

300.2

-60

352

360

Delta

11/15/01

BIMD083

537972.91

7669022

344

DD

201.2

-60

172

180

Delta

11/15/01

BIMD084

538358.11

7668693

335

DD

261.2

-58

352

360

Delta

11/15/01

BIMD085

538429.2

7668752

348.5

DD

179.9

-60

352

360

Delta

11/15/01

Hole_ID

Bimmura Target

mFrom

mTo

Interval (m)

Average Au (ppm)

Includes

BIM001

Bimurra

5.65

21.8

16.15

0.71

Bimurra

186.55

188

1.45

0.54

BIM002

Bimurra

68.16

80.28

12.12

2.0

BIM002 - 2.82 m from 68.16 m @ 7.64 ppm Au

Bimurra

46.91

55.89

8.98

0.51

BIM003

Bimurra

6

20

14

1.89

BIM003 - 1 m from 57 m @ 7.5 ppm Au

Bimurra

100

107

7

0.64

Bimurra

45

66

21

0.56

Bimurra

28

42

14

0.39

BIM004

Bimurra

0

17

17

0.48

Bimurra

54

65

11

0.33

BIM005

Bimurra

73

80

7

0.92

Bimurra

16

49

33

0.31

BIM006

Bimurra

52

53

1

0.35

Bimurra

14

21

7

0.34

BIM063

Bimurra

126

144

18

0.54

Bimurra

8

38

30

0.49

Bimurra

188

192

4

0.46

Bimurra

102

104

2

0.42

BIM064

Bimurra

24

48

24

0.43

Bimurra

104

106

2

0.36

Bimurra

118

122

4

0.31

BIM065

Bimurra

110

112

2

2.5

Bimurra

88

90

2

0.78

Bimurra

98

104

6

0.63

Bimurra

132

134

2

0.35

BIMC078

Bimurra

32

33

1

0.38

Bimurra

14

22

8

0.35

BIMC081

Bimurra

12

26

14

2.51

BIMC081 - 5 m from 15 m @ 6.42 ppm Au

Bimurra

104

106

2

1.03

Bimurra

131

132

1

0.59

Bimurra

125

126

1

0.41

BIMD082

Bimurra

55

80

25

2.01

BIMD082 - 5 m from 58 m @ 7.94 ppm Au

Bimurra

112

114

2

0.6

BIMD083

Bimurra

88.1

96

7.9

0.58

Bimurra

4

13

9

0.32

Bimurra

65

72

7

0.31

BIMD084

Bimurra

212

214

2

0.33

DDHBIMS32

Bimurra

53

74

21

0.56

Bimurra

3

18

15

0.5

Bimurra

23

52

29

0.47

DDHBIMS32 - 0.5 m from 25 m @ 6.05 ppm Au

Bimurra

75

86

11

0.44

DDHBIMS34

Bimurra

52

67

15

0.86

Bimurra

9

11

2

0.67

Bimurra

24

30

6

0.35

DDHBIMS35

Bimurra

122

127

5

0.59

Bimurra

152

160

8

0.49

Bimurra

146

147

1

0.45

Bimurra

43

45

2

0.34

Bimurra

50

53

3

0.34

Bimurra

116

117

1

0.3

Bimurra

57

59

2

0.3

DDHBIMS36

Bimurra

85

111

26

1.17

DDHBIMS36 - 2 m from 108 m @ 5.6 ppm Au

Bimurra

71

81

10

0.6

Bimurra

25

29

4

0.37

DDHBIMS37

Bimurra

20

26

6

0.91

Bimurra

130

135

5

0.77

Bimurra

124

125

1

0.42

Bimurra

0.9

14

13.1

0.42

Bimurra

98

111

13

0.41

Bimurra

152

156

4

0.39

DDHBIMS38

Bimurra

41

46.6

5.6

0.86

DDHBIMS39

Bimurra

90

107

17

1.06

Bimurra

16

30

14

0.44

Bimurra

65

83

18

0.41

Bimurra

109

124

15

0.37

DDHBIMS40

Bimurra

13

16

3

0.33

Bimmura Significant intersections

Significant intersections above 0.1 ppm cut off with 4 m running internal dilution sorted to only include average values above 0.3 ppm. Intervals > 5 m denoted by bold underline. Average Au denoted by > 0.5 ppm Au, > 1 ppm Au and > 2 ppm Au


Hole_ID

Bimmura Target

mFrom

mTo

Interval (m)

Average Au (ppm)

Includes

DDHBIMS41

Bimurra

38

51.6

13.6

0.52

DDHBIMS42

Bimurra

1.6

23

21.4

0.95

Bimurra

70

80

10

0.5

Bimurra

146

147

1

0.41

Bimurra

136

142

6

0.37

DDHBIMS43

Bimurra

46

63

17

0.8

Bimurra

23

26

3

0.76

Bimurra

103

113

10

0.45

Bimurra

116

120

4

0.45

DDHBIMS55

Bimurra

95

111.9

16.9

0.49

DDHBIMS55 - 0.5 m from 101.5 m @ 6.58 ppm Au

DDHBIMS57

Bimurra

79

102

23

2.85

DDHBIMS57 - 0.92 m from 89.93 m @ 51.5 ppm Au

Bimurra

125

132

7

0.38

Bimurra

103

110

7

0.32

DDHBIMS58

Bimurra

42

44

2

3.99

Bimurra

127.95

128.24

0.29

0.98

Bimurra

70

72

2

0.84

Bimurra

56

62

6

0.73

Bimurra

78

80.47

2.47

0.56

DDHS001

Bimurra

21

22

1

0.65

PDHBIMS14

Bimurra

62

68

6

0.5

Bimurra

6

46

40

0.46

PDHBIMS23

Bimurra

60

70

10

1.67

Bimurra

32

46

14

1.32

Bimurra

82

84

2

0.84

Bimurra

112

114

2

0.45

PDHBIMS24

Bimurra

126

128

2

1.14

Bimurra

24

30

6

0.95

Bimurra

8

10

2

0.58

Bimurra

64

66

2

0.53

PDHBIMS25

Bimurra

34

36

2

0.88

Bimurra

42

64

22

0.69

Bimurra

68

76

8

0.6

Bimurra

8

30

22

0.5

Bimurra

0

2

2

0.3

PDHBIMS27

Bimurra

0

18

18

0.45

Bimurra

24

40

16

0.45

PDHBIMS28

Bimurra

64

100

36

0.76

PDHBIMS28 - 4 m from 70 m @ 5.3 ppm Au

PDHBIMS29

Bimurra

0

24

24

0.44

Bimurra

28

38

10

0.44

Bimurra

42

52

10

0.4

PDHBIMS30

Bimurra

78

80

2

1.19

PDHBIMS31

Bimurra

0

44

44

1.17

PDHBIMS9

Bimurra

18

32

14

0.32

RCDHBIMS48

Bimurra

122

123

1

0.82

Bimurra

111

119

8

0.44

RCDHBIMS50

Bimurra

55

60

5

0.3

Bimurra

118

130

12

0.84

RCDHBIMS53 - 1 m from 121 m @ 7.45 ppm Au

Bimurra

100

117

17

0.84

RCDHBIMS53 - 1 m from 115 m @ 5.84 ppm Au

RCDHBIMS54

Bimurra

76

78

2

0.5

Bimurra

115

120

5

0.3


JORC CODE, 2012 EDITION - TABLE 1 KOALA GOLD DEPOSIT, MT COOLON PROJECT


  1. Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria

JORC Code explanation

Commentary

Sampling techniques

  • Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling.

  • A total of 130 holes for 19,142.35 m have been drilled at Bimurra. Drilling includes a total of 38 DD holes for 7829.75 m, 63 PERC holes for 6112.6 m & 29 RC holes for 5200 m. Samantha drilled 2 DD holes for 339 m, Kenecott drilled 4 DD holes for 604.5 m, Geopeko- Menzies drilled 22 DD holes for 4737.79 m & 27 PERC holes for 3046 m, BHP drilled 1 DD holes for 198.5 m & 36 PERC holes for 3066.6 m, Perilya drilled 11 RC holes for 1866 m, Ross drilled 9 RC holes for 2040 m and Delta drilled 9 DD holes for 1949.96 m & 9 RC holes for 1294 m.

  • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

  • The sampling techniques used by all previous workers are similar to, or in line with GBM Resources Limited standard operating procedures for exploration drill product logging and sampling and are of a standard sufficient for resource estimation, where methodology is not clear in the database historical reports and documentation has been reviewed to ensure care and diligence was adhered to. Where drilling methods such as Rotary Air Blast (RAB) have been used, these holes have been excluded from resource estimation.

  • Diamond core was recovered in a standard wireline core barrel with inner split or 'triple' tube. Samples were pushed out from the core barrel, with the top half split was split and the core placed in a core tray of suitable dimension.

  • At all stages of drilling where Reverse Circulation (RC) or Percussion (PERC) drilling methods were employed, samples have been collected via either a rig mounted or standalone riffle splitter via a rig mounted cyclone.

  • Down hole camera shots were checked using visual and graphical representation.


12

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Data and Statistics for these countries : Australia | Malaysia | All
Gold and Silver Prices for these countries : Australia | Malaysia | All

Drummond Gold Limited

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Drummond Gold is a gold exploration company based in Australia.

Drummond Gold holds various exploration projects in Australia.

Its main exploration properties are MT COOLON VICINITY, MT COOLON (KOALA) MINE, GLEN EVA, EUGENIA PROSPECT, MALDON, YANDAN, TPM SKARN PROSPECT, BADLANDS PROSPECT and MT MANAMAN PROSPECTS in Australia.

Drummond Gold is listed in Australia. Its market capitalisation is AU$ 16.1 millions as of today (US$ 11.6 millions, € 10.2 millions).

Its stock quote reached its highest recent level on December 16, 2010 at AU$ 9.60, and its lowest recent point on June 27, 2014 at AU$ 0.10.

Drummond Gold has 5 800 000 shares outstanding.

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Corporate news of Drummond Gold Limited
9/30/2015Significant Gold Mineralisation identified at Mount Coolon
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