Great Boulder Resources (ASX:GBR) has begun an aircore (AC) and reverse circulation (RC) drilling program at the Saltbush prospect as part of its flagship Side Well Gold Project in Western Australia.
The $40.71 million market capitalisation company says reports the drilling program represents the first drilling to test a series of new targets within the 14km Ironbark corridor.
Drilling will comprise 5 RC holes around the historic Saltbush workings followed by fences of AC drilling testing the broader geochemical anomaly.
According to Great Boulder, drilling is expected to be completed on 22 December 2023, after which the rig will be stored at the nearby Sherwood Station until fieldwork restarts in January 2024.
The company notes assays are expected in late January or early February 2024.
Great Boulder Managing Director Andrew Paterson says the company will aim to replicate its previous success at Ironbark by defining another 100,000 ounce gold discovery in the region.
“This program at the Saltbush prospect marks an important milestone at Side Well, as it is the first drilling to test a series of exciting new targets within the 14km Ironbark corridor.
Saltbush is an exciting walk-up drill target with several historic shafts in which we’ve taken rock chip samples assaying up to 14.85g/t Au, which demonstrates the presence of gold mineralisation close to surface. There is also a broad geochemical anomaly more than 400m long defined by auger sampling.
For context, Ironbark was originally defined by two adjacent geochemical samples on one line of auger holes, and GBR successfully turned that into a 100,000oz Au discovery. We are aiming to replicate that success with multiple new targets within the corridor.”
Great Boulder Resources is a mineral explorer with a portfolio of ‘highly prospective’ gold and base metals assets in Western Australia ranging from greenfields to advanced exploration.
The company’s Side Well Project sits near the township of Meekatharra in the Murchison Goldfield, where exploration has defined a mineral resource of 7.45 million tonnes (Mt) @ 2.8 grams per tonne (g/t) Au for 668,000oz gold.
As of 30 September 2023, Great Boulder Resources had $2.488 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Great Boulder Resources
