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 program includes holes at Matilda Prospect aiming to follow up undrilled strike extensions to an intersection of 3 metres at 35.5 g/t gold from 76 metres drilled in 2011.
Following this week’s success at Whiteheads, the strong Mulga Bill results at Side Well have pushed the share price higher for the second straight session to a new two-year high of 14 cents.
The company is encouraged by the continuity and consistency of Whiteheads drilling intersections and is now planning another round of reverse circulation drilling to infill these areas.
The company is encouraged by the continuity and consistency of the drilling intersections and is now planning another round of reverse circulation drilling to infill these areas.
Following an initial intersection of 52 metres at 1.02 g/t gold from 28 metres, the company surveyed several holes using an optical tele-viewer to capture down-hole structural information.
The company has lodged exploration licence applications over a new zinc-lead project to be named the Wellington Project, which has been highlighted by Rumble Resources’ major discovery.
Maiden aircore drilling is planned for the Matilda prospect at Side Well to follow up a previous intercept of 3 metres at 35.5 g/t gold.
The research aims to develop fast and cost-effective techniques for detecting gold mineralisation under alluvial cover.
Drilling at the company's Blue Poles gold discovery in November 2020 defined broad zones of primary gold mineralisation over a 700-metre strike, open to the south and at depth.
Drilling at Blue Poles in November 2020 defined broad zones of primary gold mineralisation over a 700-metre strike, open to the south and at depth.
The company's recent placement and entitlement offer will raise up to $3.11 million, and in conjunction with existing cash reserves of $1.2 million, will allow Great Boulder to fund various work at its gold projects in WA.
Recent drilling continues to demonstrate the continuity of mineralisation over an extensive strike length of around 3.7 kilometres demonstrating potential for a large discovery.
Binding commitments have been received for a single tranche placement to raise $1.65 million before costs at $0.035 per share from new, high-quality institutional, sophisticated and professional investors, as well as existing significant sh
Recently the company received initial results from a high-resolution gravity survey which confirmed a large low gravity feature striking south from outcropping granite in the project's northeast corner.
New high-resolution gravity data has revealed a corridor of low gravity coincident with the Arsenal Trend, indicating that the entire 20-kilometre trend could be prospective for new gold discoveries.
The company is focused on advancing gold exploration at the Mulga Bill prospect at the Side Well Project and the Blue Poles discovery at the Whiteheads Project.
Initial RC drilling at the prospect has discovered gold mineralisation over a 700-metre strike length with mineralisation open at depth and to the south.
The high-grade assays from reverse circulation drilling at Mulga Bill prospect correlate well with results from historical drilling in the area.
Aircore and auger programs at the Side Well Gold Project near Meekatharra in Western Australia have identified gold mineralisation with multiple parallel north-south mineralised trends apparent.
During the September quarter, the company acquired a new project which led to a series of field programs at Side Well and Whiteheads gold projects.
