Great Boulder Resources ('Great Boulder' or the 'Company') (ASX: GBR) is pleased to provide an update on field activities at the Company's flagship Side Well Gold Project ('Side Well') near Meekatharra in Western Australia.
Great Boulder's Managing Director, Andrew Paterson commented: 'This air-core program at Mulga Bill North covers an area between 1km and 1.4km north of Mulga Bill. Previously, we had some positive results from a small drill pattern in this area, which highlighted that regional fence lines of drilling completed in 2020-21 were ineffective at testing the area's potential.' 'The new results provide two important breakthroughs. Firstly, we've hit zones of shallow gold mineralisation 40m below surface, supporting our view that Mulga Bill North can make an important contribution to the Side Well resource inventory with real potential for large-scale open pit mining.' 'Secondly these new intersections fit our previous interpretation, with multiple lodes similar to Mulga Bill and good strike continuity. We have mineralisation over a 400m extent along strike, with only a small amount of additional drilling required to bring this area into resource.'
'There are still five holes remaining in the program which we couldn't complete at the time due to wet weather. The rig will head back there shortly to finish these holes, but meanwhile we're busy drilling RC holes to extend the northern end of Mulga Bill.' 'In other news we have also identified gold mineralisation beneath a surface geochemical bullseye northwest of Saltbush. The gold is coincident with strongly elevated arsenic near a mafic-ultramafic contact, so it fits the Ironbark and Saltbush mineralisation style. We intend to head back there and complete more drilling shortly.'
Mulga Bill North Thirteen AC holes were completed at Mulga Bill North for 2,039m of drilling. The program covered an area spanning approximately 400m of strike, between 950 and 1350m north of Mulga Bill. This area had previously been drilled with a small amount of AC and RC holes, however fences of regional AC drilling to the north and south completed in 2020-21 were ineffective due to being drilled towards the west, sub-parallel to the dip of high-grade veins. The drilling confirmed a zone of deep weathering in the area with some holes penetrating as far as 186m before reaching fresh rock (blade refusal depth). It remains to be seen whether this is due to a change in the surrounding geology, however mineralisation orientations are consistent with Great Boulder's previous interpretation and also consistent with those seen at Mulga Bill. Multiple lode orientations are present, with a dominant major northeast-trending lode and subsidiary vertical and west-dipping vein systems. Supergene horizons are present at around 20m and 40m down-hole.
Next Steps
The RC rig is currently drilling holes at the northern end of Mulga Bill, continuing to add definition to an area where drilling in May intersected 16m @ 13.83g/t Au from 107m in 24MBRC001. Meanwhile a diamond drill rig is drilling the second of two deep holes into Mulga Bill with the aim of defining stacked high-grade veins up to 500m below surface. Once this RC program is complete the rig will move onto a resource definition program at Mulga Bill designed to upgrade priority areas of inferred resource to higher-confidence JORC Indicated category. This program will also provide sample material for metallurgical test-work scheduled to commence in September
Contact:
Andrew Paterson
Managing Director
Great Boulder Resources Limited
Email: admin@greatboulder.com.au
COMPETENT PERSON'S STATEMENT
Exploration information in this Announcement is based upon work undertaken by Mr Andrew Paterson who is a Member of the Australasian Institute of Geoscientists (AIG). Mr Paterson has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a 'Competent Person' as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (JORC Code). Mr Paterson is an employee of Great Boulder Resources and consents to the inclusion in the report of the matters based on their information in the form and context in which it appears. The information that relates to Mineral Resources was first reported by the Company in its announcement to the ASX on 16 November 2023. The Company is not aware of any new information or data that materially affects the information included in this announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not material changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement
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