Great Boulder Resources (ASX:GBR) has intersected ‘high-grade’ gold in the ongoing reverse circulation (RC) drilling program at Mulga Bill within the Side Well Gold Project in Western Australia.
The $32.33 million market capitalisation company drilled 17 RC holes for a total of 3,870m, with resource definition drilling continuing at Mulga Bill in preparation for the pending Side Well project resource update.
‘High-grade’ drill results include drillhole 23MBRC045 with 6m @ 30.96g/t Au from 113m, including 1m @ 173.50g/t Au from 116m, and drillhole 23MBRC057 with 8m @ 5.71g/t Au from 216m, including 3m @ 13.84g/t Au from 216m.
Drilling within the ‘gap’ intersected mineralisation within subvertical shear-hosted or ‘Malvern’ lodes, alongside west-dipping vein hosted ‘Cervelo’ lodes.
Great Boulder reports the ‘Cervelo’ veins intersected at depth are more than 300m long, open along strike and down dip.
Commenting on the drill results, Great Boulder Resources Managing Director Andrew Paterson says: “This phase three program was designed to test the gap between our Central and HGV zones at Mulga Bill. This is outside the current mineral resource, so we’re excited to see high grades confirming our structural interpretation in that area.
“we’re excited to see high grades confirming our structural interpretation in that area“
These high-grade intersections are interpreted to include mineralisation in subvertical lodes, as well as high-grade west-dipping veins at depth, which remain open down dip and along strike.
The RC rig is now completing a small phase four program, which is filling in a few gaps in the data prior to our next resource update. We are also looking forward to starting a new heritage survey over the Ironbark corridor next week. This is an important step forward for Great Boulder, setting the stage for a big regional aircore drilling campaign to test this extremely prospective zone in the months ahead.”
RC drilling is expected to be completed this week, with gold and multi-element assay turnaround currently averaging 3 weeks. All data should be received by the first week of October.
Great Boulder Resources is a gold and base metal exploration company focused on its portfolio of assets in Western Australia. The company’s flagship Side Well Gold Project is located near Meekatharra in the Murchison gold field.
As of 30 June 2023, the company had $4.284 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Great Boulder Resources
