GBM Targets 1.84 Moz Gold Expansion with Advanced Geophysical Reprocessing

Strategic Geophysics Review

GBM Resources (ASX:GBZ) has taken a decisive step to bolster its gold resource portfolio by engaging David McInnes, a geophysicist with over three decades of global exploration experience. McInnes is renowned for his role in major discoveries such as BHP's Prominent Hill and Carrapateena, Newmont's Havieron, and Adriatic Metals' Rupice. His expertise will be applied to reprocess and reinterpret GBM's extensive historic geophysical datasets from the Twin Hills and Yandan projects in Queensland's prolific Drummond Basin.

The reprocessing effort will leverage advanced 3D inversion modelling techniques to refine existing targets and uncover new epithermal gold prospects. This approach integrates multiple geophysical methods, including induced polarization (IP), magnetics, and gravity surveys, with geochemical and geological data to build a comprehensive exploration model.

Expanding the Resource Base

GBM currently holds a JORC-compliant gold resource of approximately 1.84 million ounces at an average grade of 1.3 g/t Au across its Drummond Basin tenure. The company’s strategy is to rapidly grow this resource through targeted drilling programs informed by McInnes’ reprocessed geophysical models. Key deposits such as 309 and Lone Sister at Twin Hills, and the Yandan deposit with its high-grade East Hill core, are focal points for near-surface resource expansion and deeper high-grade zone exploration.

Notably, previous drilling at Twin Hills has intersected significant high-grade gold mineralisation at depth, including intervals exceeding 40 meters at grades above 3 g/t Au. These results underscore the potential for extending mineralisation below existing resource shells, which McInnes’ work aims to delineate more precisely.

Regional Exploration Upside

Beyond resource drilling, GBM plans to initiate a regional exploration campaign across its 1,587 km² tenure in the Drummond Basin. This area has seen limited modern exploration for blind epithermal gold systems, with previous operators focusing primarily on high-grading known deposits. The new program will expand geophysical surveys and soil sampling to generate fresh drill targets, potentially unlocking new discoveries in this underexplored gold province.

The company’s approach reflects a broader industry trend of applying cutting-edge geophysical processing to legacy data, thereby enhancing discovery potential without the immediate need for costly new surveys. This method is particularly suited to the structurally complex and epithermal nature of the Drummond Basin gold systems.

Outlook and Market Positioning

GBM’s Managing Director, Peter Rohner, highlighted the value of integrating historic datasets with modern analytical techniques to sharpen exploration focus. With a farm-in agreement with Newmont on some tenements and a pending joint venture with Wise Walkers Limited, GBM is positioning itself to transition from a junior explorer to a mid-tier Australian gold producer.

As the company finalises its 2024 drilling program, investors will be watching closely for updates on resource growth and new target generation. The success of McInnes’ geophysical reinterpretation could be a pivotal catalyst, potentially unlocking significant value in GBM’s extensive Queensland portfolio.