Morning, everyone. I'm Daniel Hastings, CEO of GBM, and I'm just going to tell you a little story about gold in Queensland. I think there's been a lot of focus on gold in WA, but Queensland has a hell of a lot to offer, some excellent resources, and people are starting to recognize this once again. We've got three main tenement packages in the Drummond Basin, which is a known basin of high gold mineral endowment. These basins generally run tens, if not hundreds, of millions of ounces. In this case, historically, a lot of the focus was on the Charters Towers block to the North, and not a lot of exploration's been done in the Drummond Basin. Pajingo's one of the standout operations that was discovered, along with Cracow in the South. Over the years, it suffered for a number of reasons. Over the course of about seven years, a 3,000 sq km tenement package was brought together for the first time. That includes Mount Coolon over on the East, where WMC had their first ever gold operation, the old Koala pit that had been mined since the 1900s. Then we managed to acquire Yandan off then Aeris Resources. Finally got Twin Hills out of Minjar, who owned Pajingo at the time. Traditionally, whoever owned Pajingo owned the Twin Hills project, hence in this particular case, most of the exploration dollars went into Pajingo because they were trying to expand out there. These deposits are epithermal systems, so they have quite spectacular grades. Some of the historical grades that we've seen in these deposits are really quite spectacular, like 17 m at 317. At Twin Hills, in the 309 deposit, the highest interval we've got is 1 m at 3,000 g/ ton. There's over 300 1 m intervals inside that deposit that are greater than an ounce. That's what these deposits can offer, and once you get into them, they tend to just grow over time. Pajingo was only supposed to operate for half a dozen years, and it's going 40 years later. Simberi was supposed to be five years, and it's going almost 20 years later. When we got into this, we had a look recently. The business was recapped. Apollo Group came in, cleaned up all the debt. We've got Jupiter in there as major shareholder, Wise Walkers, which is a family office out of Hong Kong. They were part of a joint venture arrangement, came up in the Topco. We've got a new board there with Ian Middlemas as Chairman. Once the business was recapped, we had a look at our asset base and formulated a strategy that focused initially on the million ounces that we have at Twin Hills. A million ounces is spread across two deposits, 309 and Lone Sister, and they're about 7 km apart, and they hold roughly half a million ounces in each. Here we did an initial drilling program just to make sure that we understood the system, just to make sure that we could increase the mineral resources there. Off the back of that program, we commenced a much larger drilling program, increased our rigs and looked to expand not only the tons and build on extensions to these deposits, but also recognizing that there was a lot of stranded high-grade pods inside the deposit that weren't joining up because of lack of drilling. We're in there trying to show high-grade continuity, and that also lifts the overall average grade of the deposits. At the moment, these two deposits average at about 1.3 g/ ton. They start at surface. They're almost entirely open pitable. They do have the capacity to grow, and we've seen that from some of the results that we've returned already. We've drilled about 23,000 m. One of the issues that we've had, and everybody's having this issue, is we just can't get the assays in a timely fashion. Everybody's getting smashed at the moment, we still have 12,000 m of assays pending. Here at the 309 deposit, for example, some of the holes that we've drilled, we stepped out to the North 100 m and hit 37 m at 5 g, including 3 m at about 30 g. That's a true interval. I mean, that 3 m at 30 g was 1 m at 26 g, 1 m at 30 g, 1 m at 36 g. It's not just a very narrow single vein carrying the grade. They've actually got a bit of width to them. We also stepped out to the East 80 m, we put out a release on Monday. There we got a hole that intersected 35 m at 2.3 g/ ton, and again, carrying 3 m at 22 g. The guys have also done a lot of work on the geology. Originally, this was always interpreted to be a felsic dome. Our guys did a lot of work and recognized that it was more stratiform and that most of the mineralization occurred in a milled matrix breccia. This is just a cross-section. There's the 309 deposit on the North. What we found was that across a kilometer of strike length, there's a lot of historical gold intercepts, but it was never hanging together. They assumed historically that they were in andesites. The andesites were not really that fertile, and it was more massive, not layered. Our geo said, no, no, no. We believe there's a breccia layer that carries on underneath that was originally a wet sediment. We drilled the first ever hole, which was hole four, deeper than 200 m. After all this exploration and drilling since the late 1980s, nobody in the tenement package had ever drilled a hole deeper than 204 m except for the two known deposits. The first hole we put down, the geo said we'll get this milled matrix breccia at 265 m, and we intersected it at 267 m. The geophysics maps it really, really well. Now we know we're in a little back-arc basin. We know we've got the host rock that it prefers. We know we've got the structure, and that it maps to the geophysics. Now we just need to get in there and find duplicates of 309 or larger extensions of 309 and really grow the resource. Lone Sister, which is the half a million ounces, 7 km to the South, similar story. The one I like about this deposit is hole five, which was an infill hole. We saw a pod of high-grade material in the block model that's about 5 g. Another pod at about 5 g. In the middle, no drilling and the model was estimating at about 1.5 g. We poked a hole down there, and that was hole five. There we got 16 m at 5.5 g. Now we can join up those pods. We can show the high-grade continuity, and we can lift the overall average grade of the deposit. On top of that, the entire tenement package is highly prospective. Our view is that hiding in there are Tier 1 assets. We just need to go and find them. There's a lot of noise. We've got a power line prospect, for example, that's 2 km West of Lone Sister. Had a couple of holes put in there, got exceptional intercepts, and never followed up. There's an entire corridor between 309 and Lone Sister that's just exhibiting fantastic geophysical anomalies and geochemical anomalies. Once again, never been drilled. We've got Yandan, which is to the North. At Yandan, we've got half a million ounces there at East Hill. This is the old Ross Mining area. Ross Mining produced 365,000 oz in the mid-early 1990s. It was at that stage, Australia's highest margin gold producer. They essentially took the oxide cap off the hydrothermal system. Within that larger hydrothermal system, the little image up the top there shows the old historical pit. To the East, we've got the East Hill deposit. Inside of that, there's classic epithermal veining, there's a higher grade core where we've got 200,000 oz at just under 6 g/ ton. It's been dislocated from the generator fault that's post-mineralization. We've got a lot of targets in the area. Again, geophysical and geochemical targets that have just never been tested. We've just started drilling there, we were looking to expand this resource significantly. This is a North to South cross-section through the East Hill deposit. You can see in the center there, the East Hill deposit's coincident with a chargeability anomaly and a resistivity anomaly. There's larger resistivity and chargeability anomalies all around it that have never had a hole put in them. We really do have a lot of targets and a lot of quality targets. Within the broader tenement package, once again, similar story. A lot of prospectivity, a lot of geochemical and geophysical anomalies. We recently went down to Illamahta, to South of that, the guys found a 4 km by 4 km intrusive center showing brecciation, sulfides, stockwork, and had never been mapped. All the mapping stopped at a road just to the North of it. Nobody walked across the road and had a look. What we're doing with all of that is we're continuing to drill out and demonstrate scale of Twin Hills. We're continuing our brownfields, if you like. We're doing our systematic greenfields. We're working towards getting Twin Hills to the point where we can proceed to development. We've started a PFS based on the resources that are there at the moment. If we didn't update the resources at all, there's already 70,000 oz-100,000 oz of production a year for 7-10 years. We'd be looking to find 100,000 oz for 10+ years. It's open pitable. It's shallow. The metallurgy is great. There's been a lot of, I suppose, misinformation that the ore is refractory. That's not the case. There's a lot of metallurgical test work done that shows that the recoveries are in the high 90s. There was also a 74,000 ton stope taken out of 309 back in the mid-2000s. That had an overall recovery of 91% and a 40% recovery through the gravity circuit. The met's clean. We're looking to push forward, and use that as a base to then continue to explore the wider area where we see opportunity to get even bigger and even more impressive deposits on top of that. We also recently got back our Mount Coolon tenement from a farm-in with Newmont. Newmont told us that they didn't like the deal, that they thought it was too much in our favor. We're very happy to get that back. We're going through the data now. We're seeing a lot of interesting stuff there as well that we'll get stuck into. There's still remnant resources around the old Koala and Glen Eva pits. We're really keen to start over there as well. We did a raise last year. We've got AUD 32 million in the bank, so we're well-cashed. Like I said, we've got four rigs on the ground, three at Twin Hills now and one out at Yandan. We're about to start drilling some of these greenfields targets, and having a look there and looking to deliver a PFS about mid-next year. Yeah, that's the story. Thank you
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