Great Boulder Resources Ltd (ASX:GBR) has completed 17 holes in its phase III drill program at its Mt Venn copper-nickel-cobalt discovery within the Yamarna Project in Western Australia.
The in-fill and extensional drilling program consisted of four diamond holes and 13 reverse circulation (RC) holes.
Notably, visual observations indicate that the drilling has extended the known mineralisation both down-dip and along strike.
Initial assays results are expected as early as late April.
READ: Great Boulder Resources steps up exploration at Mt Venn copper-nickel-cobalt discovery
The drilling is part of a multi-pronged exploration campaign at the emerging Mt Venn discovery that also includes airborne electromagnetic (EM) surveys.
Processed data from the airborne EM survey is expected imminently and will be reported once received and interpreted.
A ground-based moving loop EM (MLEM) survey will be designed over priority areas of the Eastern Mafic complex once the AEM data is processed.
Nearby Eastern Mafic complex shows similarities to Mt Venn
During the March quarter, Great Boulder completed an extensive ground-based gravity survey over the Yamarna project.
The gravity survey identified a large intrusive body associated with the Eastern Mafic complex, measuring 4x3 kilometres located only 7 kilometres from Mt Venn.
Exploration data indicates that the Eastern Mafic complex formed during the same magmatic event as Mt Venn.
The Eastern Mafic complex could be the feeder structure
The potential discovery of a feeder structure within the Mt Venn project is significant.
Many globally-significant magmatic nickel sulphide orebodies occur within these structures, where nickel-rich magma first mixes with sulphur to produce massive sulphide deposits.
Great Boulder had $2.8 million in cash at the end of the March quarter.