Great Boulder Resources Ltd (ASX:GBR) has identified 12 new conductor targets in a moving loop electromagnetic survey (MLEM) at the Eastern Mafic complex within its Mt Venn project, Western Australia.
The anomalous responses to the MLEM survey mean these targets could potentially host massive sulphide mineralisation.
The ongoing survey is 70% complete and the new 12 new conductors increases the total number of high-priority conductor targets identified in the survey to 15.
READ: Great Boulder Resources to accelerate drilling at Mt Venn Copper-Nickel-Cobalt Project after raising $2.5 million
Great Boulder’s managing director Stefan Murphy said: “The exploration work completed at the Eastern Mafic strongly supports our view that this area has the potential to be the source of the extensive mineralisation already discovered immediately adjacent at Mt Venn.
“The strong EM response from the latest conductors is also highly promising as they are consistent with a massive sulphide source.
“With the survey now 70% completed and the recent $2.5 million capital raising done, we are on the cusp of drilling these potentially company-making targets.”
Maiden drill program at the Eastern Mafic complex
The MLEM survey is expected to finish in 2-3 weeks, which will enable data analysis ahead of a maiden drill program.
The maiden drill program at the Eastern Mafic complex is expected to commence late June to early July.
New assays from Mt Venn drilling show copper-nickel-cobalt
At the Mt Venn discovery next to the Eastern Mafic complex, new drill assays have revealed more strong intersections of copper, nickel and cobalt mineralisation.
Reverse circulation drill results included 21 metres at 0.6% copper, 0.2% and 0.06% cobalt from 30 metres depth.
Notably, high-grade copper intersections of up to 1.6 metres at 3.6% copper were assayed.
Down-hole EM will now be used to target the next round of drilling in this area.