A headline hit of 12m grading 4.5 grams per tonne gold from 50m was reported, with three parallel lodes said to have been identified within a "single shear corridor" over a 400m strike length.
The "deposit" is undrilled below 100m.
Greenstone is currently drilling other targets in the area.
The company sees Burbanks as a potentially analogous to other high-grade mining scenarios in WA, including Bellevue, Paulsens, Jundee, Darlot and Agnew.
In those cases, mining has been undertaken or is currently at depths below circa 800m, whereas Burbanks has only been significantly-mined to about 140m - yielding 421,000 ounces at 10.9gpt.
Greenstone had A$2.3 million cash at the end of the September quarter.
It last raised cash in the September period when investors bought $2.1 million worth of shares priced at 1.7c each.
Shares in Greenstone were up 3.6% to 2.9c in early trade, capitalising the company $23 million.
