Great Boulder Resources (ASX:GBR) has received drilling results that allows for the company to add ounces to the existing gold resource at its Mulga Bill Project in Western Australia.
All of the latest drillholes intersected zones of gold mineralisation, with hits including 4m @ 6.46 grams per tonne (g/t) gold from 88m, 3m @ 3.07g/t gold from 76m, 6m @ 2.17g/t gold from 80m, and 19m @ 1.25g/t gold from 232m.
Great Boulder, which has a market capitalisation of $28.64 million, says the reverse circulation drilling results have confirmed subvertical gold mineralisation extending up the western side of the deposit, which is outside the current resource.
Managing Director Andrew Paterson says the nine drillholes were designed to test subvertical Malvern Lodes on the western side of Mulga Bill and also at depth below the current resource.
Nine reverse circulation holes were drilled for 2,807m testing the Malvern Lodes, which are subvertical, north-south striking lodes which sit within the 50m-wide Mulga Bill shear corridor.
Great Boulder believes the Malvern Lodes represent an early intrusive-related mineralising event.
“We’ve intersected a new area of gold mineralisation which appears to be an extension to subvertical lodes previously defined further south,” Paterson says.
“These results mean we will be able to add ounces to the resource at relatively shallow depths with simple tabular lode-style geometry.
“This represents a strike extension to this lode of approximately 350m, which highlights the fact that Mulga Bill continues to surprise on the upside as we continue drilling.
“The results have also increased gold grades in the supergene horizon in several areas, and
extended the known Malvern lodes at depth in the ‘link zone’ between Mulga Bill’s central and high-grade vein areas.”
At Saltbush, a reverse circulation drill rig has completed a small program of resource definition drilling and is now back at Mulga Bill North. The rig will continue drilling priority areas to support the estimation of an initial inferred resource estimate in this area.
Once completed, the rig will move to Mulga Bill for a short resource definition program on the newly identified zones before returning to Side Well South to continue discovery-focused aircore drilling.
Meanwhile, a small shallow reverse circulation drilling program is planned to test the new Malvern Lode position.
The results are expected from first-pass aircore drilling in the Side Well South area in the coming weeks.
Mulga Bill is part of the greater Side Well Gold Project which has defined a mineral resource estimate of 7.45 million tonnes at 2.8g/t gold for 668,000 ounces of gold.
Great Boulder is a gold and base metals explorer focused on its portfolio of prospective projects in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Great Boulder Resources
