GBX ANN ASX Announcement 26 August 2016...

GBX ANN


ASX Announcement 26 August 2016 _________________________________________________
GBX awarded $200,000 drilling grant for Mt Denison GB Energy (ASX: GBX) is pleased to announce that our Mt Denison Copper-Gold-Uranium project has been awarded $200,000 in PACE Discovery Drilling co-founding from the Government of South Australia.

Mt Denison is considered prospective for Iron Oxide Copper-Gold (IOCG) hosted mineralisation given the following attributes: • Location: an inlier of Paleoproterozoic rocks adjacent to the NE margin of the Gawler Craton; • Structure: parallels and is constrained by regional NW striking structures; • Mineralisation: historic copper workings prevalent in the area interpreted to be remobilised from basement lithologies - Copper mining occurred in the Peake Denison Inliers during the late 1890s and early 1900s from numerous mines and shafts; • Magmatism: Palaeoproterozoic and Mesoproterozoic igneous intrusives and extrusives known in the area; and • Alteration: density highs potential indicator of hematite alteration.