GBM Resources announces drilling results for its Milo IOCG REE deposit

GBM Resources has announced a further update of its activities at the Milo IOCG-REE deposit in the North West Mineral Province of Queensland.

Results from four holes MIL017 to MIL020A - drilled on the northern area of used aac plant for sale europthe Milo REEY inferred resource have demonstrated that CuEq and REEY mineralisation extends to the north beyond the current resource and that the mineralising system remains open to the north and at depth.

These holes will contribute to an extension of the resource model in an upcoming re-estimation of the previously announced maiden inferred resource of 103Mt at an average grade of 760ppm TREEYO, containing 83,500 tonnes of total rare earth elements and yttrium.

Significant CuEq and TREEYO intersections from these new holes are summarised in the tables below.

All holes completed to the north in this round of drilling intersected mineralisation with significant intersections recorded for both CuEq and TREEYO mineralisation.

CuEq mineralisation includes 70 metres @ 0.8% CuEq, including 18 metres averaging 1.3% CuEq in MIL017 and 51 metres averaging 0.8% in MIL018. In addition, significant TREEYO intersections included 20 metres averaging 3,979 ppm TREEYO in MIL017 and 11 metres averaging 1,382 ppm TREEYO in MIL020A.

As a result of the recent successful drilling program the maiden rare earth inferred resource will be revised and the copper equivalent results will be incorporated to delineate a maiden copper equivalent resource. This work is expected to be completed later this month followed up by the completion of the preliminary scoping study, which will incorporate the revised resource figures.