Proactiveinvestors Australia

GBM Resources Ltd (ASX: GBZ) is a Perth based exploration company committed to targeting large gold and copper-gold system assets in Australia.

Since listing on the ASX in October 2008, the Company has developed several projects based in north west Queensland. It’s “flagship” project is the Milo Project in the Mt Isa region of NW Queensland where the company has uncovered a large IOCG and Rare Earth Element system. GBM Resources’ Victorian projects include the Malmsbury gold project and Willaura copper-gold project.

Project Snapshot


Queensland


Mount Isa region - Northern Queensland. Targeting Iron Oxide Copper–Gold Deposits.

GBM acquired 10 titles in October 2008 that form a strategic position in the Mount Isa / Cloncurry region which is one of the world’s most prolific producers of base metals. The tenement package is highly focussed on the Eastern Succession of the Mt Isa Inlier which is recognised as the key host to IOCG deposits in the region.

The key target is IOCG and gold mineralisation however a recent 1,000m drilling program at shallow depths has confirmed phosphate mineralisation at the Bungalien tenement. This tenement is located close to the Phosphate Hill mine.

At the Brightlands tenement recenet rock chip sampling returned significant results for copper, gold and uranium. This was followed up recently with soil sampling at the Milo prospect as the first of five high priority tarfet areas within the project.


Dee Range Project near Rockhampton. Targeting Gold and Copper Deposits.

Since listing GBM has increased its strategic tenement holding in the Mt Morgan region by an additional three licences. The historic Mt Morgan gold–copper mine produced 8 million ounces of gold and 420,000 tonnes of copper.

Data review and field work have identified a number of targets for follow up. An aeromagnetic anomaly suggests an intrusive complex with features similar to the Mt Morgan mine. Some of the results include a 4.5 km anomalous zone with stream samples up to 171 ppb of gold. There has been no drill activity since 1966 and GBM will be deploying modern exploration methods to this area.


Victoria


Malmsbury Project in Central Victoria. Targeting Gold Deposits.

The Leven Star prospect resource has increased to 104,000 ounces of gold. The deposit is open both at strike and depth.

The diamond drilling and field work undertaken in 2008 plus historical data support the conclusion that the project has the potential to emerge as a major gold system. Successful granting of EL5120 covers the possible extensions to the Malmsbury project.


Willaura Project in West Victoria. Targeting Intrusive Related Copper-Gold Deposits.

Located in the Stavely Zone, which contains a number of well known copper and base metal occurrences. Three magnetic features with associated copper geochemical anomalies have been identified.

One target test drill hole returned 1840ppm copper and 42000ppm zinc and anomalous nickel values. Recent high grade copper and gold results from the adjacent tenement demonstrates the prospectivity of the Mt Stavely volcanic area.

Find Out More About Projects:

Malmsbury

Willaura

Dee Range

Mount Isa

Tenements Summary

Peter Thompson
Executive Director/ Chairman

Mr Thompson is a CPA qualified accountant and Fellow of Chartered Secretaries Australia.  He has over 30 years’ experience in the mining industry in Australia, UK and South America.  He has held senior roles with several major companies including Mt Edon Gold Mines, MIM Holdings Ltd and Xstrata Plc.

Since 2000, Mr Thompson has been involved in the development of various infrastructure projects, including mine and refinery expansions and establishment of infrastructure including roads, rail, port and power utilities.

Mr Thompson was previously a director of Western Australian iron ore producer Golden West Resources Limited and Queensland based mining and civil contractor JJ McDonald & Sons Group.


Neil Norris
Exploration Director - Executive

Mr Norris is a geologist with over 25 years experience gained in Australia and overseas. Recently he was Group Exploration Manager for Perseverance Corporation Limited and spent over ten year with Newmont Australia Limited holding senior positions in both mining and exploration areas. A key achievement was his development of the geological models which contributed to the discovery of the Phoenix ore body at Fosterville. Mr Norris was also involved in the discovery of the world class Cadia and Ridgeway deposits. Mr Norris has a track record inthe successful identification of mineral deposits and his experience will greatly advance GBM's exploration efforts.

Mr Norris has held no other directorships of listed companies in the last 3 years.


Cameron Switzer
Non Executive Director

Mr Switzer is a geologist with over 20 years of experience gained in 11 countries.  He has held senior positions with a number of major mining companies including Senior Project Geologist at Newcrest Mining Ltd’s Telfer gold mine in Western Australia and Geology Manager at Acacia Resources Ltd’s Union Reef Gold Mine in the Northern Territory.  Mr Switzer was also Principal Geologist with MIM Exploration Ltd for seven years during which time he gained broad experience with a range of deposits and geological and operating environments.

Mr Switzer has a track record in the successful identification of mineral deposits, project generation, exploration management, validation of resources and the subsequent commercialisation of resources.  Mr Switzer is a geological consultant based in Queensland.

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