Great Boulder Resources (ASX:GBR) has extended drilling at the group’s Ironbark deposit in Western Australia, by at least 180m, adding to its gold endowment within the project and following receipt of results from its most recent testing program.
The extension takes in known mineralisation to the south of the existing resource of 100,000 ounces @ 3.3 grams per tonne gold. Mineralisation remains open along strike and at depth, providing the company “significant” scope to materially increase the resource.
This news comes in parallel with ongoing mine development work. Environmental studies including hydrogeological assessments and waste characterisation are underway.
Great Boulder, which has a market capitalisation of $56.12 million, says this work will allow the company to lodge a mining approval documentation for Ironbark.
Some of the latest drill results include 6m @ 8.53g/t gold from 111m, including 1m @ 24.90g/t gold from 115m; and 5m @ 8.91g/t gold from 57m, including 1m @ 39.5g/t gold from 60m.
Managing Director Andrew Paterson says Ironbark continues to grow, with drilling intersecting “remarkably consistent” thicknesses and grades between 7 to 9g/t gold.
“The recently announced Scoping Study for Ironbark highlighted the potential for a highly profitable open pit mining operation, with these high-grade additions defined by our latest drilling indicating a much larger potential resource and reserve that was first considered,” Paterson says.
“Development workstreams currently underway as part of our plan to lodge a mining application will continue, however the company will be updating the mineral resource for Ironbark once the full extent of mineralisation has been defined, with any increase in the resource having strong potential to improve the economics for a mining operation at Ironbark.”
Further design work and planning is being conducted to provide optimal site layouts and additional reverse circulation drilling is being planned.
Great Boulder is a mineral explorer focused on gold and base metals discoveries in Western Australia.
The Ironbark deposit is part of the broader Side Well Gold Project which hosts a resource estimate of 668,000 ounces @ 2.8g/t gold.
Write to Aaliyah Rogan at Mining.com.au
Images: Great Boulder Resources
