viewGreat Boulder Resources Ltd

Great Boulder Resources makes good progress with gold exploration

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.

Great Boulder Resources Ltd - Great Boulder Resources makes good progress with gold exploration
Drilling is ongoing at the Side Well and Whiteheads projects in Western Australia

Great Boulder Resources Ltd (ASX:GBR) is making good progress with gold exploration at Mulga Bill prospect within the Side Well Project and at the Whiteheads Project in Western Australia.

The company is starting start 6,000 metres of aircore drilling at Mulga Bill after completing phase 1 of reverse circulation drilling with a 600-hole auger program about to start.

At Whiteheads, re-sampling of anomalous 4-metre composite samples from the recent aircore drilling has been completed and assay results confirm gold mineralisation.

Drilling on track

Great Boulder’s managing director Andrew Paterson said the company was making good progress with its gold exploration program.

He said: “We’re on track with drilling at Mulga Bill and the transition from RC to aircore drilling has been very efficient.

“With the WA exploration industry being so busy at the moment it’s not easy to secure rigs, so we’re taking the aircore rig to Kalgoorlie to drill Blue Poles as soon as the Mulga Bill program is finished.

“I’m personally very excited by the potential at Mulga Bill and we’re looking forward to seeing the first assays.

“Unfortunately, the assay labs are very busy at the moment and turnaround times are three to four weeks, so we’re hoping to get the first numbers back in early October.”

Mulga Bill program

The company has completed the Phase 1 reverse circulation drilling at Mulga Bill consisting of 12 holes for 2,257 metres with holes designed to extend known zones of mineralisation.

A 6,000-metre aircore drilling is underway at the prospect to infill the 400-metre gaps between previous RC drilling and to provide detail on the position of the Mulga Bill mineralised corridor in order to plan the next round of RC drilling.

The company is also about to carry out a 600-hole auger program over the banded iron formation (BIF) stratigraphy on the eastern side of the Side Well project, to the east of Mulga Bill.

This area includes residual soils and sub-crop with no alluvial cover, making it ideal for auger sampling that will be submitted for multi-element assay later this month.

Whiteheads results

The Whiteheads project consists of three exploration licences covering an area of about 230 square kilometres and is a highly attractive area for gold exploration.

Recently completed aircore drilling designed to find anomalous mineralisation has confirmed gold mineralisation.

Best results include:

  • 4 metres at 3.35 g/t gold from 50 metres;
  • 20 metres at 0.54 g/t from 32 metres including 5 metres at 1.19 g/t;
  • 15 metres at 0.57 g/t from 33 metres;
  • 2 metres at 1.76 g/t from 33 metres; and
  • 3 metres at 3.14 g/t from 16 metres.

The aircore drilling is designed to find anomalous mineralisation, so these results at the top of fresh rock are very encouraging.

Great Boulder plans a second round of aircore drilling to test extensions at Blue Poles before starting the first round of RC drilling.

Quick facts: Great Boulder Resources Ltd

Price: 0.05 AUD

Market: ASX
Market Cap: $9.4 m

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