Great Boulder Resources Ltd (ASX:GBR)

Great Boulder Resources is a new mineral exploration company, with a primary focus on exploration, discovery and delineation of nickel-copper-cobalt and gold resources within the Eastern Goldfields Region of Western Australia.

YAMARNA – MT VENN AND EASTERN MAFIC COMPLEX
THE YAMARNA PROJECT IS LOCATED APPROXIMATELY 130 KILOMETRES EAST OF LAVERTON, AND APPROXIMATELY 30 KILOMETRES WEST OF THE GRUYERE GOLD DEPOSIT IN THE EASTERN GOLDFIELDS DISTRICT OF WESTERN AUSTRALIA.

Great Boulder Resources’ Mt Venn Project contains the Mt Venn Ni-Cu-Co discovery and the highly prospective Eastern Mafic Complex. The Mt Venn and Eastern Mafic Complex are interpreted to represent large scale copper-nickel-cobalt magmatic systems with the following key points:

• Sulphide mineralisation discovered over several kilometres at along the western margin of the Mt Venn complex and remains open in all directions.
• Multiple, parallel lenses of copper-nickel-cobalt mineralisation have been identified. High grade copper has been intersected along the footwall contact at Mt Venn.
• The recently identified Eastern Mafic complex resembles a very large ‘pipe-like’ intrusion.
• Airborne EM flown over the Eastern Mafic Complex have identified multiple late-time conductors, indicative of a bedrock source.
• Aircore geochemistry confirms a strong correlation between the EM conductors and copper-nickel mineralisation.

Under the Yamarna Joint Venture Agreement, the Company has the right to earn a 75% interest in the Yamarna Project by funding exploration expenditure of $2,000,000 over a 5 year period.

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TARMOOLA
THE TARMOOLA PROJECT IS LOCATED APPROXIMATELY 40 KILOMETRES NORTH-WEST OF LEONORA, JUST WEST OF THE KING OF HILLS GOLD MINE (FORMERLY KNOWN AS TARMOOLA) OPERATED BY SARACEN RESOURCES LIMITED AND THE GWALIA UNDERGROUND GOLD MINE OPERATED BY ST BARBARA LIMITED.

Under the Tarmoola Joint Venture Agreement, the Company has the right to earn a 75% interest in the Tarmoola Project by funding exploration expenditure of $1,400,000 over a 5 year period.

Historically overlooked, the land was pegged by EGMC as a conceptual large-scale gold project highlighted by a large regional geochemical pathfinder anomaly which also incorporates the King of the Hills and Sons of Gwalia gold deposits. The Tarmoola Project lies in the same geological setting as these deposits, being a northern extension to a regional granite-greenstone terrane contact.

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BALAGUNDI
THE BALAGUNDI PROJECT IS A STRATEGIC ADVANCED GOLD PROJECT LOCATED APPROXIMATELY 20KM EAST OF THE KALGOORLIE SUPER PIT IN THE EASTERN GOLDFIELDS OF WESTERN AUSTRALIA.

Under the Balagundi Joint Venture Agreement, the Company has the right to earn a 75% interest in the Balagundi Project by funding exploration expenditure of $1,000,000 over a 5 year period.

Several historic gold mines are located on and around the project area, including the high-grade Mount Bellew underground gold mine.

This project has been privately held since 1986 and has significant strike extensive historical gold workings highlighting the potential for a large gold system to be discovered. The Balagundi Project has only been partially drill tested, with significant potential remaining for the discovery of gold resources.

Significant historic drilling intersections include:

• 24m grading 19.1g/t gold from surface;
• 4m grading 40.4 g/t gold from 99m downhole; and
• 12m grading 15.2g/t gold from 36m downhole.

Historical gold workings expose several gold-bearing quartz vein systems extending through the Balagundi Project area over strike lengths of several hundred metres. Four arsenic-gold trends evident in soil geochemistry highlight the main mineralised trends in the project area. The project comprises a large-scale structural duplex which has been intruded by gabbroic sills, known to be significant hosts for gold mineralisation in the Eastern Goldfields.

During late 2016-early 2017, Great Boulder Resources completed two phases of RC drilling at the Mt Bellew North and Mt Bellew East prospects to test mineralisation extensions. These drill programs have highlighted the potential of the Balagundi project with both prospects remaining open.

At Mt Bellew North, gold mineralisation is largely confined to a sequence of northwest trending mafic-sedimentary lithological contacts (+/- quartz veining).  The presence of northeast cross-cutting structures also appears to be an important mineralisation control, particularly as the Mt Bellew North and East trends appear to be offset by a significant northeast structure.  Mineralisation remains open at the intersection of these structures and the intention is to extend drilling along both of these trends.

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BROADWOOD
THE BROADWOOD PROJECT IS SITUATED BETWEEN THE HISTORICAL BINDULI GOLD MINING CENTRE AND THE GOLDEN MILE/KALGOORLIE SUPER PIT IMMEDIATELY ALONGSIDE THE TOWNSHIP OF KALGOORLIE.

Under the Broadwood Joint Venture Agreement, the Company has the right to earn a 75% interest in the Broadwood Project by funding exploration expenditure of $500,000 over a 5 year period.

The Company is targeting significant Archaean lode gold mineralisation in an area which has undergone minimal effective modern exploration.

The Broadwood Project has several major north-east trending fault sets cut across the project area and which are strike extensions to locally important ore controlling structures at both the Golden Mile and Binduli.

The Archaean bedrock sequences at the Broadwood Project are overlain by a variety of surficial regolith deposits, with this transported cover likely to have hindered historical exploration efforts.

JUNDEE SOUTH
THE JUNDEE SOUTH PROJECT IS LOCATED EAST OF WILUNA IN THE EASTERN GOLDFIELDS DISTRICT OF WESTERN AUSTRALIA, APPROXIMATELY 10 KILOMETRES ALONG STRIKE FROM THE JUNDEE GOLD MINE OPERATED BY NORTHERN STAR RESOURCES LIMITED.

The Company owns 100% of the Jundee South Project which was privately held for over 10 years and was acquired by the Company in May 2016. A previous holder of the Jundee South Tenement retains a 0.5% net smelter return royalty on any gold produced from the project.

The host stratigraphy of the Jundee gold deposits and its mineralising structures extend southwards through the area of the Company’s Jundee South Project. Multiple structures analagous to those at the newly discovered Ramone deposit (Northern Star Resources) are interpreted from geophysical and mapping data providing exciting new exploration targets.

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Last updated 12th December 2018

Greg Hall
NON-EXECUTIVE CHAIRMAN

Greg is a geologist with over 45 years’ experience in the mining and exploration industry.  Mr Hall was Chief Geologist for Placer Dome from 2000 to 2006 and managed Placer Dome’s exploration activity in China from 1993 to 2001. Prior to Placer dome, Mr Hall managed exploration for CSR Limited contributed to the discovery of the Granny Smith gold mine in Western Australia, including Wallaby, Sunrise Dam and Keringal. Mr Hall has significant experience as a director for a number of publicly listed resources companies.

Stefan Murphy
MANAGING DIRECTOR

Stefan has 16 years’ experience in the mining industry, both in industry as a geologist and more recently in financial advisory and equity capital markets.  Stefan initially worked within BHP Billiton’s iron ore and bauxite divisions before moving into gold and precious metals at Gold Fields Limited mining operations in Western Australia.  For the past 7 years Stefan has worked in corporate advisory with PwC and most recently with RFC Ambrian in Australia and the UK, providing corporate and financial advice.

Murray Black
NON-EXECUTIVE DIRECTOR

Murray has over 39 years’ experience in the mineral exploration and mining industry and has served as a director of several publicly listed Australian companies. Mr Black part-owns and manages a substantial Australian drilling company, Blue Spec Drilling, has interests in several commercial developments and has significant experience in capital financing.

Melanie Leighton
NON-EXECUTIVE DIRECTOR

Melanie is a geologist with over 17 years’ experience within the mineral exploration industry.  She is currently the Corporate Projects Manager and alternate director of ASX-listed company, Hot Chili Limited.  Melanie has held senior geological roles with, Harmony Gold, Hill 50 Gold, Northwest Resources and Terra Gold gaining practical and management experience within the areas of exploration, mining and resource development.

Melanie Ross
COMPANY SECRETARY
BCom, CA, AGIA ACIS

Ms Ross is an accounting and corporate governance professional with over 18 years’ experience in financial accounting and analysis, audit, business and corporate advisory services in public practice, commerce and state government.  She has a Bachelor of Commerce and is a member of the Institute of Chartered Accountants in Australia and New Zealand and an associate member of the Governance Institute of Australia.

Ms Ross is currently a Director of a corporate advisory company based in Perth that provides corporate and other advisory services to public listed companies.

Last updated 12th December 2018

REGISTERED AND PRINCIPAL OFFICE

Level 1, 768 Canning Highway
Applecross, Western Australia 6153

PO Box 1565
Applecross, Western Australia 6953

Telephone: +61 8 6323 7800
Facsimile: +61 8 9315 5004

SHARE REGISTRY*

Security Transfer Australia Pty Ltd
trading as Security Transfer Registrars

770 Canning Highway
Applecross, Western Australia 6153

Telephone: +61 8 9315 2333
Facsimile: +61 8 9315 2233

DIRECTORS

Gregory Clifton Hall
Non-Executive Chairman

Stefan Kevin Murphy
Managing Director

Murray Edward Black
Non-Executive Director

Melanie Jane Leighton
Non-Executive Director

John Edward Sendziuk
Company Secretary

REGISTERED AND PRINCIPAL OFFICE

Level 1, 768 Canning Highway
Applecross, Western Australia 6153

PO Box 1565
Applecross, Western Australia 6953

Telephone: +61 8 6323 7800
Facsimile: +61 8 9315 5004


SHARE REGISTRY*

Security Transfer Australia Pty Ltd
trading as Security Transfer Registrars

770 Canning Highway
Applecross, Western Australia 6153

Telephone: +61 8 9315 2333
Facsimile: +61 8 9315 2233

AUDITOR*

RSM Australia Partners

8 St Georges Terrace
Perth, Western Australia 6000

Telephone: +61 8 9261 9100
Facsimile: +61 8 9261 9199


SOLICITOR

Jackson McDonald

Level 17, 225 St Georges Terrace
Perth, Western Australia 6000

Telephone: +61 8 9426 6611
Facsimile: +61 8 9321 2002
 

Last updated 12th December 2018