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GBM Resources Says Drilling at Queensland Deposit Hits High-Grade Gold Intercepts; Shares Down 3%

-- GBM Resources (ASX:GBM) said the first three drill holes of the stage two drilling program at the Lone Sister deposit, within the Twin Hills gold project in Queensland, hit high-grade gold intercepts outside of the existing mineral resource estimate, according to a Wednesday Australian bourse filing.

The company encountered intercepts of 22 meters at 3.7 grams per tonnes (g/t) grade of gold from 149 meters and 115 meters at 1.7 g/t grade of gold from 73 meters.

Three drill rigs now operating across the Lone Sister and 309 deposits.

GBM Resources' shares were 3% lower in recent Wednesday trade.

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