Newmont Begins Drilling at GBM’s Mt Coolon Project

GBM Resources Limited (AU:GBZ) has released an update.

GBM Resources Limited has announced the commencement of a diamond drilling program by Newmont at the Mt Coolon Gold Project in Queensland. Newmont’s drilling targets high-grade gold and silver deposits and is part of an earn-in agreement allowing them to acquire up to a 75% interest in the project by investing A$25 million over six years and fulfilling drilling milestones. The current phase requires Newmont to complete a minimum of 3,000 meters of drilling by October 2024, marking the initial step in the strategic partnership.

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