Great Boulder Resources Ltd (ASX:GBR) has secured a drill rig for a 2,000-metre infill extensional program at Blue Poles gold discovery within the Whiteheads Gold/Nickel Project in Kalgoorlie.
Maiden RC drilling at Blue Poles in November 2020 defined gold mineralisation over a 700-metre strike length and intersected broad zones of mineralisation including 52 metres at 1.02 g/t from 28 metres to end of hole with gold mineralisation remaining open at depth and to the south.
GBR managing director Andrew Paterson said: “We are excited to have an RC rig on the way, as rig availability is one of the key bottlenecks for exploration in WA at present.
“Great Boulder is looking forward to seeing how Blue Poles evolves with this next round of drilling.”
The RC rig will be mobilised next week to commence the Blue Poles drilling program.
Side Well drilling to follow
On completion of the Blue Poles drilling the same rig and field team will move to Side Well project to complete a 4,000-metre RC program at Mulga Bill prospect.
This drilling will target strike extensions and test mineralised trends beneath the supergene zone previously defined by two campaigns of aircore (AC) drilling.
Paterson said: “We will also be drilling 4,000 metres at the Mulga Bill prospect at Side Well, testing the interpreted trends of primary gold mineralisation in the basement.
“The previous two AC programs have provided extensive bottom-of-hole data for gold and pathfinder elements that we are leveraging to map these trends.
“It’s going to a busy couple of months and we expect a strong period of news flow as a result.”
Additionally, further AC drilling is scheduled for the Arsenal Trend at Whiteheads in April.
Great Boulder field program for H1 2021.
Entitlement issue closing
Great Boulder is undertaking a $3.1 million capital raising to fund its aggressive exploration programs.
Along with a placement to raise $1.65 million before costs at $0.035 per share, the company launched an entitlement issue to raise an additional $1.45 million (before costs) at a price of $0.035.
The entitlement issue is underway and will close this Friday, March 19, 2021.
The placement and entitlement offer will position the company with a strong cash balance of up to around $4.3 million to execute high impact drill campaigns at the Side Well and Whiteheads projects.