Great Boulder Resources (ASX:GBR) has made a new gold discovery during extensional drilling at the Mulga Bill North deposit, the results of which will underpin a maiden resource estimate.
At Mulga Bill North, which forms part of the Side Well Gold Project in Western Australia, 13 reverse circulation holes totalling 1,932m were drilled. The program aimed to confirm and infill known mineralisation, as well as test prospective target areas.
Great Boulder, which has a market capitalisation of $34.15 million, reports multiple zones of gold were intersected, returning 29m @ 3.15 grams per tonne (g/t) gold, including 8m @ 6.03g/t gold.
These latest results represent an upgrade to the neighbouring aircore holes and opens up a broad area for follow-up extensional reverse circulation drilling down-dip and along strike.
Managing Director Andrew Paterson says the company believes there is potential for substantial resource growth in the north, considering that gold has been discovered and defined in the Mulga Bill host unit.
“The newly discovered mineralisation is hosted within the same unit as Mulga Bill, reinforcing our view that the overall Mulga Bill system has potential for more than a million ounces within the 2.5km of strike we’ve drilled to date,” Paterson says.
Several rounds of reverse circulation drilling in the Mulga Bill North area have been completed. The company continues to bring this area into an expanded mineral resource estimate for Side Well.
“There is still an additional 1km of strike further to the north which to date has only been tested by shallow aircore drilling,” Paterson adds.
Further drilling is planned in 2025 to define the newly discovered zones of mineralisation, as well as to target a “highly prospective” dacite corridor — which is where the new intersection is interpreted to lie.
The company’s field team has also begun auger sampling over the newly acquired Wanbana joint venture tenements, which is located at the southern end of the Side Well Project. Great Boulder aims to define new gold and pathfinder targets.
A heritage survey is planned for the first quarter of 2025 which will allow drill testing of these new areas.
Meanwhile, metallurgical testwork is progressing on a range of samples from Mulga Bill. The results are expected in January 2025.
Great Boulder Resources is a mineral explorer focused on its portfolio of projects considered prospective for gold and based metals in Western Australia.
The company’s flagship Side Well Gold Project contains an overall resource — from the Mulga Bill and Ironbark deposits — of 7.45 million tonnes @ 2.8g/t gold for 668,000 ounces.
Write to Aaliyah Rogan at Mining.com.au
Images: Great Boulder Resources
