GBM is pleased to announce that Swift Resources Limited (“Swift”), a wholly owned subsidiary of Singaporean company Swift Venture Holdings Corporation, has conditionally agreed to acquire 100% of GBM’s Queensland Joint Venture phosphate rights under a conditional Share Sale and Purchase Agreement (SSPA) dated 16 February 2012.
GBM is pleased to advise that recent surface sampling and mapping activity in the Mount Morgan project area has defined a large zone of anomalous copper and gold with coincident porphyry-style hydrothermal alteration. The Mount Morgan Project is located 40km south west of Rockhampton in Queensland in close proximity to the world class Mt Morgan Copper-Gold mine, which produced in excess of 8.0M ounces of gold (Au) and 400,000 tonnes of copper (Cu) metal.
GBM is pleased to announce results from recent drilling have significantly expanded the copper zone at the Milo Iron Oxide Copper Gold (IOCG), Rare Earth Elements and Yttrium (REEY) Project in North- west Queensland.