Great Boulder Resources (ASX:GBR) is looking to undertake another Aboriginal heritage survey within the Ironbark Corridor on the back of recent drilling results from its Side Well Gold Project in Western Australia.
The $26.78 million market capitalisation company says these new results have been received as part of a phase five resource expansion and definition program, as well as an exploration program at both Mulga Bill and Mulga Bill North, respectively.
Key results include hole 23MBRC084 with 8m @ 13.68 grams per tonne (g/t) gold (Au) from 64m, including 4m @ 25.33g/t Au from 64m; and hole 23MBRC076 with 7m @ 4.84g/t Au from 88m, including 3m @ 9.18g/t Au from 88m.
The company reports Mulga Bill North displays potential as a ‘significant’ northern extension to the existing Mulga Bill resource, with mineralisation now defined over 700m of strike and remaining open in all directions.
Great Boulder notes all drilling completed to date at both Mulga Bill and Ironbark will be incorporated into an upcoming Mineral Resource Estimate (MRE) update, which is scheduled to be delivered at the end of this month (October 2023).
Meanwhile, the company expects the begin its second of two Aboriginal heritage surveys before the end of the month.
Speaking on the results, Great Boulder Resources Managing Director Andrew Paterson says the company may have uncovered a new ‘high-grade’ zone outside the current resource.
“These results are the last eleven holes targeting shallow mineralisation at Mulga Bill, plus five exploration holes at Mulga Bill North.
The hole which intersected 8m @ 13.68g/t Au is outside the current resource at the northeastern end of Mulga Bill. At this stage, we’re not sure if it’s a new supergene zone or an extension of a high-grade west-dipping vein. In either case, it’s a new high-grade zone which adds ounces to the project.
“In either case, it’s a new high-grade zone which adds ounces to the project”
At Mulga Bill North, it appears hole 23MBRC086 has intersected northeast-trending mineralisation. The next hole to the north didn’t drill deep enough to intersect that trend, so it remains open along strike. Our pathfinder geochemistry looks very promising in that area, and further drilling is required.
Meanwhile, we are looking forward to the second heritage survey on the northern half of the Ironbark corridor. Our other drilling approvals are in place, and we’re looking forward to drill-testing these areas as soon as possible.”
Great Boulder Resources currently holds a portfolio of ‘highly prospective’ gold and base metals assets in Western Australia.
The company’s flagship Side Well Project is located near Meekatharra in the Murchison goldfield, where exploration has defined an inferred MRE of 6.2 million tonnes (Mt) @ 2.6g/t Au for 518,000oz Au.
Great Boulder Resources had $4.284 million cash and cash equivalents at hand as of 30 June 2023, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Great Boulder Resources