Great Boulder Resources Ltd (ASX:GBR) has intersected shallow gold in its recent reverse circulation (RC) drill program at Cervelo Prospect within the Side Well Gold Project near Meekatharra in Western Australia.
Assays have been received for the final six holes at this newly discovered target, on the east side of the expanding Mulga Bill area, including:
- 4 metres at 5.53 g/t gold from 18 metres;
- 6 metres at 4.64 g/t from 148 metres, including 4 metres at 6.62 g/t from 148 metres; and
- 4 metres at 3.24 g/t from 153 metres, including 1-metre at 8.27 g/t from 153 metres
Meanwhile, the company has completed its diamond drilling program at Mulga Bill, with core processing underway.
What’s more, GBR will kick off further aircore and RC campaigns next month at the project.
Outside resource
GBR managing director Andrew Paterson said: “These six holes were targeting extensional mineralisation identified in our recent aircore program as announced on April 27.
“We were looking for near-surface extensions of high-grade veins intersected at depth within the Mulga Bill HGV Zone.
“Significantly, the intersection of 4 metres at 5.53 g/t gold from 18 metres on hole 23MBRC038 is our shallowest high-grade result at Mulga Bill since we started drilling in August 2020.
“This new zone of mineralisation lies outside the current mineral resource.”
Early cash flow
GBR’s core focus is the Side Well Gold Project in the Murchison Goldfield, where the company has an inferred mineral resource of 6.192 million tonnes at 2.6 g/t gold for 518,000 ounces.
Six RC holes were drilled in the Cervelo area immediately east of the Mulga Bill HGV Zone, testing positions down-dip from anomalous intersections.
READ: Great Boulder Resources flags expansion potential at Mulga Bill gold deposit
Cervelo is a large target area that remains largely untested by RC drilling.
Paterson adds: “Shallow mineralisation is particularly important in any potential mining scenario, as any near-surface ounces can provide early cashflow while pushing towards the bonanza grades deeper down.
“While the holes further east didn’t intersect the same tenor of grade as we see in the HGV Zone, they have confirmed a broad mineralised corridor which was first identified in the aircore drilling.
“We will continue testing this target with more RC holes in the next program.
“Now that the diamond program is complete, we’ll finish logging and processing the core, then regroup in Perth for some mid-year training with the team before starting the next drilling programs in July.”