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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“I am very pleased to note that the high-grade gold intersected in diamond holes 22MBDD003 and 22MBDD004 are consistent with our geological interpretation, which also means we are becoming increasingly confident in our understanding of the
“There may be scope for recovering copper as part of a potential mining scenario. The fact that we see individual samples with copper as high as 3.44% and silver at 171.38 g/t indicates this zone could host a significant amount of metal," s
“The significance of the sulphide target is that we’ve already identified a relationship between pyrite and gold mineralisation, so any areas where sulphides have been identified are a priority exploration target for gold," says MD Andrew P
“These holes were planned to target narrow high-grade vein positions so we’re excited to see visible gold, intense alteration and high gold grades within those veins,” says MD.
“We are well advanced and funded to execute our plans to accelerate drilling later this quarter as we move towards an exploration target followed by an initial mineral resource estimate at Side Well,” says MD.
Highly experienced commercial and operations executive Karen O’Neill has been appointed to the board as a non-executive director.
Lion has made an equity investment in Great Boulder via a recently conducted placement, where GBR is progressing a new gold discovery at Mulga Bill, located 20 kilometres from Meekatharra in the Northern Murchison region of WA.
GBR has a strong unaudited cash balance of c.$9.1 million to start its high impact exploration and drilling campaigns at Side Well.
“RC drilling recommences next week, and we are excited to test the new high-grade target identified at the southern end of Mulga Bill where we announced an intersection of 23.78 g/t gold earlier this year,” the MD said.
“Achieving an overall gold recovery of 99.7% on a high-grade sample is excellent, but only leaving 0.1g/t in the tail is sensational,” says MD.
"We’re making good progress towards our 100,000-metre drilling target this year which will be a major step towards our goal of reporting a mineral resource estimate on Mulga Bill. It’s really going to be a big year for Great Boulder,” says
“The strength and depth of the IP response is extremely encouraging and supports our view that the area we’ve drilled at Mulga Bill is only a small part of the mineralised system," says MD Andrew Paterson.
“These initial indications from metallurgical work on RC chips are very positive, particularly the very high percentage of gravity-recoverable gold and the apparent coarse nature of the gold,” said managing director Andrew Paterson.
Great Boulder recently received strong gold drilling results, including intersections of up to 4 metres at 40.68 g/t from Mulga BIll prospect within the Side Well Gold Project near Meekatharra in Western Australia.
Diamond drilling will test the orientation and continuity of structures hosting high-grade gold mineralisation and is expected to continue for the next few weeks.
“Mulga Bill is a massive mineralised system. This is 5 kilometres from the zone where we first started intersecting ounce-grade gold veins, and the high grades are still there,” said MD Andrew Paterson.
“This is a fantastic start to the year for Mulga Bill, with more cracking grades in the central area where we have previously intersected zones up to 14 metres at 36.12 g/t,” says MD.
Cosmo Metals will be admitted to the official list on January 31 after raising $5.1 million in its initial public offering (IPO).
“Whiteheads is a big project with dozens of priority targets, and this program continues our systematic testing that has been ongoing for the past two years," managing director Andrew Paterson said.
“This program at Mt Venn is designed to provide momentum for Cosmo Metals shortly after listing," says MD.
