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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“These observations by Dr Salama and his team provide an important breakthrough in our understanding of the gold mineralisation at Mulga Bill and the related alteration halos around the gold," says MD.
The company continued to build on previous high-grade success at Mulga Bill, intersecting as much as 9 metres at 24.19 g/t gold from 193 metres, including 1-metre at 184.78 g/t.
“The demerger of the highly prospective Yamarna project is a win-win for the company and its shareholders, enabling Great Boulder to crystallise value from the non-core base metals assets, while ensuring management time and resources remain
The Yamarna Copper-Nickel-Cobalt Project will spin out into a dedicated ASX-listed battery metal focused vehicle with its own highly experienced board and management team.
The next phase of aircore drilling is now underway testing a range of targets on the Mulga Bill corridor as well as regional targets within the Side Well Gold Project.
Managing director said, “Given the scale and potential of Mulga Bill there is a lot more drilling to do but every program improves our confidence that this is a large scale, well-endowed mineral system.”
The precious metals explorer is prospecting at the heart of a multi-million-ounce goldfield, where the latest round of reverse circulation and aircore drilling turned the soil on a suite of promising results.
“The transaction also enables Great Boulder and our shareholders to participate in the upside potential of the Yamarna Project with GBR retaining circa 50% of the new entity and by providing a priority offering in the new entity to existing
“Given its location, size and the results we’ve seen to date I think Mulga Bill has the potential to have a plus million-ounce gold endowment," says MD.
The program, which will take two weeks to complete, will assist with the company’s understanding of the Mulga Bill prospect and future drill targeting.
GBR’s latest drilling results extend Blue Poles’ main supergene gold mineralisation zone and hint at a potential plunge towards high-grade primary gold to the south.
Five high-grade targets in the central area of Mulga Bill will be drilled for structural and mineralogical data.
The company has enacted the Side Well option 12 months early after intersecting bonanza-grade gold earlier this year.
A recent analysis of GBR’s multi-element data had identified a pathfinder element association characteristic of an intrusive-related gold system (IRGS).
The intersection of further high-grade gold at Side Well project provides the company with confidence to plan further definition drilling in the next program.
The 2,500-metre program will test strike extensions to the north and south and provide additional definition within the deposit.
The explorer has opted to continue exploration at the copper-nickel-cobalt Yamarna asset as the sole owner, trading a private miner’s remaining interest for a royalty stipend.
The latest assays follow bonanza-grade results released in early May that prompted Great Boulder shares to hit a fresh 2.5-year high of 15 cents at the time.
The placement will position the company to accelerate drilling at the Side Well and Whiteheads projects, and also undertake a maiden exploration program at the exciting new Wellington Project.
Securities will remain halted until Wednesday, May 19 or when an announcement is released to the market.
