GBM holds 100% of the Brightlands Milo Iron Oxide Copper-Gold (IOCG) Project in the prolific North West Mineral Province of Queensland.
The project area is dominated by a major regional structure; the long lived, deep seated Cloncurry Flexure.
There are multiple targets for Cu and Cu-Au mineralisation with very limited shallow drilling. The Tambourine Prospect returned veins and alteration over a 600m strike length. Peak values of up to 13.8% Cu and 2.6 ppm Au were intersected in drilling with the best intersection of 9m @ 2.2% Cu and 0.43 g/t Au in BTRC003.
Milo IOCG Rare Earth Elements (REE) deposit
The Maiden Milo Inferred Resource is 88 Mt containing 97 kt of Copper and 14 Mlbs of Uranium oxide at a 0.1% copper equivalent cut-off.
The resource remains open at depth and along strike. There has been limited drill testing of strong geochemical anomalies to the north west. The best result from ML013 is 27.0 m @ 0.75% Cu, including 18 m @ 1.03% Cu and 0.4 g/t Au. The south west anomaly remains undrilled.