Great Boulder Resources (ASX:GBR) has begun drill testing a 2.4km-long target at its Side Well Gold Project in Western Australia that the junior hopes will advance it towards its million-ounce resource objective.
This is the first time testing high-priority, large-scale geochemical targets at Great Boulder’s flagship project, which currently hosts a resource of 668,000 ounces @ 2.8 grams per tonne gold.
Managing Director Andrew Paterson says the team has been looking forward to testing these new targets as the company switches back into a discovery phase.
“This is our first program testing the largest and strongest soil anomaly we’ve identified so far at Side Well,” he says.
“We’re hoping Side Well South will deliver the next gold discoveries and another step towards our million-ounce resource objective.
“The initial phase of drilling at Side Well South will consist of approximately 80 air-core holes, with initial results expected in late October.”
The Side Well South Prospect hosts the two largest and highest-grade auger anomalies identified so far at Side Well – a 2.4km-long Ironbark-style and a 1.4km-long Mulga Bill-style anomaly.
Great Boulder, which has a market capitalisation of $34.7 million, says the Ironbark-style anomaly demonstrates strong gold anomalism accompanied by arsenic and antimony centred on the historic Golden Bracelet mine workings.
Meanwhile, the 1.4km-long Mulga Bill-style anomaly is dominated by “very strong” bismuth anomalism.
The first-pass aircore drilling program will be broken into two phases of about 80 holes each. Once the first phase is complete, the rig will move to Saltbush to complete a small reverse circulation resource definition program before returning to Side Well South for the second phase of aircore drilling.
The tenements hosting the historic Golden Bracelet and Bourke’s Reward workings are currently excised from Great Boulder’s joint venture at Side Well South.
Both are 100% owned by privately held Wanbanna, Great Boulder’s minority JV partner in the surrounding tenements.
Great Boulder is aiming to release an updated resource before the end of the year.
Write to Angela East at Mining.com.au
Images: Great Boulder Resources
