Great Boulder Resources extends Blue Poles strike to more than 1-kilometre with unexpected base metal discovery
These new results add further weight to the Blue Poles discovery
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 new results add further weight to the Blue Poles discovery
The next RC program is scheduled to start in the second week of November at Blue Poles, within the Whiteheads project, followed by further RC work at Mulga Bill.
First RC drilling at the prospect has returned high-grade gold and increases confidence that Mulga Bill could be part of a large system.
Phase 1 aircore and auger drilling has been completed at Side Well with Phase 2 aircore drilling underway at Whiteheads.
Funds raised will be used for an aggressive exploration program focused on the company’s gold projects at Side Well and Whiteheads in Western Australia.
Earlier this month the company received firm commitments for a capital raising of $2.3 million which also included a $1.33 million placement.
The company is undertaking 6,000 metres of aircore drilling at Mulga Bill prospect to infill 400-metre gaps between previous RC drilling along with a 600-hole auger program elsewhere at the Side Well project.
The closing date for the entitlement offer has been extended by five business days to 5.00pm (WA time) on Friday, September 11.
The company has a range of projects from greenfields through to advanced exploration including Mt Venn and Winchester, Whiteheads and the Side Well Gold Project.
First-pass aircore drilling has intersected gold over 600 metres of strike and over 70 metres width at the Blue Poles prospect.
The commitments for the fundraising initiative from sophisticated and professional investors indicates strong support for the company’s gold exploration plans.
During the June quarter, the company completed desktop reviews of many potential opportunities, culminating in taking up the Side Well option.
Paterson now holds 6 million options expiring on 30 June 2022 and 199,362 shares in the company.
This richly endowed area has produced nearly four million ounces of gold, with over 2.7 million ounces remaining in current resources.
With advanced copper-nickel-cobalt projects and the Whiteheads Gold Project plus the backing of a strong technical team, the company is well-positioned for future success.
The mineralisation sits approximately 250 metres down-plunge from the interpreted top of the shoot, or 80 metres down-plunge from the nearest drill hole.
Analysis has revealed that nickel values at Mt Carlon's Eastern Zone anomaly are not associated with sulphide mineralisation.
An in-depth review of its exploration program has resulted in the company consolidating its focus on four WA gold and nickel projects within its portfolio.
The company will consolidate from five to four projects in Western Australia with a focus on gold and nickel.
RC drilling is targeting a 3.5-kilometre-long anomaly prospective for nickel.