Great Boulder Resources (ASX:GBR) believes there is potential for a “significant” extension to the Saltbush deposit’s strike length after receiving assay results from resource definition drilling.
The drilling program has returned several intersections that confirm mineralisation extends to the north beyond the limit of previous drilling, with results returning up to 34.4 grams per tonne gold.
Great Boulder, which has a market capitalisation of $32.63 million, adds that drilling at the north end of Saltbush has also confirmed the plunge extent of mineralisation and the deposit remains open in this direction.
Managing Director Andrew Paterson says the initial holes from the first pass aircore drilling program confirmed gold mineralisation along strike north of the historical Golden Bracelet mine workings.
“The aircore rig has now returned to continue this program,” he says.
“We’re looking forward to more results from this area as we continue testing these highly prospective targets. The reverse circulation rig has just finished a program at the northern end of Mulga Bill, so we’re also anticipating results from that drilling later in December.”
The company expects aircore drilling will continue until the Christmas break and then restart in mid-late January.
An auger sampling and mapping program has also begun over the new Wanbanna joint venture tenements at the southern end of Side Well. A team of geophysical contractors will be onsite this month to extend coverage of the company’s gravity survey over these new tenements.
Great Boulder notes results and analysis are expected during January 2025.
Meanwhile, metallurgical testwork is underway on a range of sample parcels from Mulga Bill to examine gravity gold and cyanide leach recoveries. Results will be returned in 2025.
Further, the updated mineral resource estimate, originally scheduled for December, will be pushed back into 2025 to allow time for more drilling.
Great Boulder also intends to enable any areas such as Mulga Bill North to be included into the MRE and any new discoveries at Side Well South.
The Side Well Gold Project hosts a MRE of 668,000 ounces at 2.8g/t gold.
Great Boulder is a mineral explorer focused on its gold and base metal assets in Western Australia. The company is primarily focused on its Mulga Bill deposit within the Side Well Gold Project.
Write to Aaliyah Rogan at Mining.com.au
Images: Great Boulder Resources
