GBM Resources' latest 3D modeling of data from the recent survey at its Tiger Prospect in North Queensland has confirmed a deep target zone for sulphide hosted copper mineralization.
Initial field data from the Sub Audio Magnetic geophysical survey at the Tiger Prospect also appears to confirm the location of the target zone identified by the IP survey. Data from this survey is expected to be received progressively over the next week.
SAM is used to identify shallow target zones over a broader area and will also survey the possible extension to Tiger. On the corporate front for GBM, Cygnet Capital and Greenday Corporate have successfully completed a share placement for the Company to raise USD 2.5 million to sophisticated investors of 12,500,000 fully paid ordinary shares at a price of 20 cents per share.
(Sourced from Proactiveinvestors.com)
