Great Boulder Resources (ASX:GBR) has extended the strike length of gold mineralisation from the Golden Bracelet mine during drilling at the Side Well South Project in Western Australia.
The company has released the remaining 16 drillholes from a reverse circulation drilling program of 23 drillholes across 3,100m.
Results returned 9m @ 2.28 grams per tonne gold from 35m including 1m @ 9.18g/t gold from 36m, as well as 4m @ 11.70g/t gold from 116m at drillhole 25SWRC008 which is a 4m composite sample that will be re-assayed in 1m intervals.
Great Boulder believes results from drillhole 25SWRC008 indicated a new lode of mineralisation, planning to test the extent of this zone in future drilling programs.
Meanwhile, the rig is now drilling a small aircore program near Mulga Bill prior to moving north of Eaglehawk to commence fences of wide-spaced drilling.
These drill fences will test the overall extent of the northern end of the Central Corridor, where mineralisation including the Mulga Bill and Eaglehawk deposits has been defined over a total strike length of more than 6km. The northern limit of this intrusive-related gold system has not yet been determined
Managing Director Andrew Paterson says the old Golden Bracelet mine appears to strike more than 200m, open to the north, south and at depth.
“This is another Ironbark-style discovery, with strong gold grades close to surface. Near-surface gold deposits provide options for early cashflow and mine scheduling. Such mineralisation will be important during the potential development of a large open pit at Mulga Bill,” Paterson says.
The first seven drillholes were announced last month, with results returning 14m @ 1.64 grams per tonne gold from 83m, including 4m @ 3.59g/t gold from 86m, as reported by Mining.com.au.
First mobilised to drill 10 shallow aircore drillholes across 604m at the Saltbush prospect to fine-tune mineralised wireframes for an initial mineral resource estimate, the drill rig has since completed another 41 holes across 3,287m at the Side Well South area, with results pending both programs.
The company has also completed a reverse circulation program at the south of the Ironbark prospect recently, to test the southern extension of mineralisation to see if it continues further south and the hypothesised southerly plunge to the zone. Results will be announced once available, with a Scoping Study of the area expected to be completed in early July.
Great Boulder Resources is an Australian explorer, focusing on the development of gold and base metals projects in Western Australia.
Global gold supply increased by 1% year-on-year to reach 4,974 tonnes in 2024, as high prices pushed up gold recycling and primary production. Canada, Australia, Papua New Guinea, and Central and South America are all forecast to lift their gold mine production in 2025, with expansions in existing projects and higher output offsetting output falls in Indonesia.
From 2026, gold supply is projected to remain stable at about 5,000 tonnes per year. The rise in mine output to 2026 is expected to come from higher output from existing mines as miners use high-grade gold veins to capitalise on high gold prices.
Great Boulder Resources will be attending the Noosa Mining Investor Conference, held between 23-25 July, at the Peppers Noosa Resort.
Mining.com.au is an official media partner of this year’s conference.
Write to Maddison Elliott at Mining.com.au
Images: Great Boulder Resources
