Great Boulder Resources drills new zones of sulphide mineralisation at Eastern Mafic
The EIS co-funded drilling program was designed to test potential feeder structures.
Company
ASX:GBR
Great Boulder Resources Ltd is a mineral exploration company with high-quality gold and base metal projects in Western Australia. The company’s key focus is exploration and development of the high-grade Side Well Gold Project near the historic gold camp of Meekatharra in the Murchison region.
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The EIS co-funded drilling program was designed to test potential feeder structures.
The company’s due diligence, including drilling and petrography, confirmed the presence of high-grade nickel and copper mineralisation.
Results exceeded expectations and a clear development path has been set for the project.
The company’s shares are trading about 19% higher intra-day, at 18 cents.
Drilling has commenced at the Zermatt prospect targeting high-tenor nickel sulphide mineralisation.
Investments and investor services
Despite a sharp price correction in 2018, shrinking supply sources and growing demand for battery chemicals are predicted to sustain cobalt prices into the 2020s.
Up to four deeper diamond holes are planned with drilling expected to begin within a month.
Drilling will target the high-grade sulphide core of the Eastern Mafic system.
The company’s CFO Rod Lovelady will present at tomorrow’s Proactive CEO Session in Melbourne.
Chief executive officer Greg Cochran will present to investors in Sydney next Monday.
Chief executive officer Mark Sykes will present to investors in Sydney on Monday, November 19.
Recent drilling has increased nickel, copper, cobalt and PGE grades and improved understanding of mineralisation.
Investments and investor services
The company has a suite of gold projects in WA’s multi-million-ounce greenstone belts.
Managing director Scott Williamson will present to investors in Sydney and Melbourne.
Investments and investor services
High Peak Royalties Ltd will outline royalty investment strategy at CEO Session in Melbourne
The next luncheon sessions will be in Sydney on 19 November and Melbourne on 20 November
The copper sulphide graded 42% copper, the chemical grade cobalt sulphate 29% cobalt and nickel sulphide 42% nickel.
Assay results deliver strong clues to the nature of mineralised systems at the company’s two primary WA focus areas.
The company has identified extensive copper-nickel-cobalt mineralisation at the Mt Venn Project, outlined over several kilometres.
The company has secured an option from Ausgold Ltd over the Yamarna Nickel Project, north of Mt Venn.