Great Boulder Resources (ASX:GBR) has plans for further drilling at its flagship Side Well Project near Meekatharra in Western Australia after making a new gold discovery at the Side Well South prospect.
Following a reverse circulation drilling program beneath recent gold discoveries announced in the first three months of this year, Great Boulder has confirmed additional mineralisation with results returning 14m @ 1.64 grams per tonne gold from 83m, including 4m @ 3.59g/t gold from 86m.
Assays from a further 16 drillholes are still pending results.
The Side Well Gold Project hosts a mineral resource estimate of 668,000 ounces @ 2.8g/t gold.
Managing Director Andrew Paterson says Great Boulder is excited to see the progress of this project for its success in hitting a broad intersection early on.
“Side Well South is shaping up as an important target for future resource growth at the project. Our initial aircore program intersected gold in four new areas with geological settings analogous to our Ironbark and Saltbush deposits, which is promising,” Paterson says.
Aircore drilling at its Eaglehawk deposit has extended mineralisation by another 200m south, following results of 8m @ 2.19g/t from 60m, including 4m @ 4.23g/t gold from 64m.
Meanwhile, a Scoping Study was completed for the Ironbark deposit, with the company expecting that to be completed within the current quarter.
“We have also formalised our near-term growth expectations at Side Well in the form of an exploration target, which is based upon upside expectations within our current resources and active gold prospects,” Paterson says.
Great Boulder, which has a market capitalisation of $47.15 million, is currently working towards completion of its phase-two drilling program at Side Well.
The company will conduct a follow-up reverse circulation drilling program at the southern end of its Ironbark deposit, with further aircore drilling and induced polarisation surveys planned for the northern Eaglehawk area.
Great Boulder Resources is an exploration company focused on developing gold and base metals in Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: Great Boulder Resources
