Great Boulder Resources Ltd (ASX:GBR) shares surged up to 103% as assays from Blue Poles discovery within the Whiteheads Gold Project in WA have confirmed a large-scale discovery.
Best results from reverse circulation (RC) drilling that confirmed the dip and strike of the deposit include:
- 40 metres at 1.15 g/t gold from 44 metres including 24 metres at 1.54 g/t;
- 40 metres at 1.03 g/t from 40 metres including 16 metres at 1.40 g/t; and
- 15 metres at 1.02 g/t from 65 metres.
Great Boulder’s managing director Andrew Paterson said: “Blue Poles keeps getting better. The continuity and consistency of these drilling intersections are amazing.”
Investors responded strongly with shares skyrocketing 103% intra-day to 9.3 cents on volume of almost 367 million before a trading halt late in the day.
Primary gold mineralisation
Zones of primary gold mineralisation have now been confirmed over 450 metres of the strike at Blue Poles.
They are interpreted to dip approximately 75 degrees to the west, striking north-northwest parallel to local stratigraphy and magnetics.
This interpretation also means some sections remain open to the west, with the full width of mineralisation to be confirmed in the next round of drilling.
Another round of RC drilling
Paterson said: “We’re now planning another round of RC drilling to infill these areas where the sections are open to the west, and we’ll be using this information to test a west-dipping orientation on other gold intersections further north.
“The aircore rig has just drilled the first holes across Gunners.
“We’re also drilling another target to the south.
“I’m looking forward to seeing how the Arsenal Trend develops as our programs unfold.”
Progressing aircore drilling
Other intersections in drilling up to 500 metres further north are yet to be followed up.
Aircore drilling is progressing well on multiple other high priority Blue Pole analogue targets along the Arsenal Trend and follow-up RC drilling is being planned.
The Gunners prospect, a Blue Poles lookalike anomaly about 1 kilometre further north, is now being tested with aircore drilling.