Great Boulder Resources Ltd (ASX:GBR) has diamond drilling underway across five high-grade gold targets at Mulga Bill, within the wider Side Well Project in Western Australia.
The five-hole program is set to test high-grade lodes in the central area of Mulga Bill, around the initial reverse circulation (RC) intersection of 6 metres at 31.25 g/t gold.
Additionally, Great Boulder believes drill core will also yield valuable structural and mineralogical data, enhancing understanding of the deposit.
“Drilling our first diamond hole”
Speaking to the diamond drilling program, managing director Andrew Paterson said: “Our field team has just completed a 63-hole aircore program, with the AC rig leaving site and the diamond rig arriving on the same day.
“We’re now drilling our first diamond hole into Mulga Bill.
“The program is consistent with our strategy of advancing the project as quickly as possible.
“This program will provide five core intersections in the central area, while the AC and RC programs are extending Mulga Bill along strike in both directions.”
Looking ahead
During the recently completed round of aircore (AC) drilling, the Perth-based gold exploration company drilled 63 holes for 5,931 metres.
Holes were planned to generate new RC targets north of previous drilling and to test potential extensions to the south.
The next round of RC drilling at Mulga Bill is scheduled for the first week of August.
Option to lift Side Well stake
Earlier this month, Great Boulder exercised its option to acquire a 75% interest in the Side Well Gold Project from Zebina Minerals Pty Ltd.
Under the terms of an agreement signed in July 2020, Great Boulder had a two-year option to explore Side Well before deciding to acquire a 75% interest in the project.
The company decided to exercise this option 12 months early after Side Well produced bonanza-grade gold results earlier this year.