Great Boulder Resources (ASX:GBR) intends to begin aircore drilling at the Polelle Project in Western Australia this quarter in light of pathfinder anomaly discoveries made earlier this year.
As highlighted in the company’s latest quarterly report, field reconnaissance, mapping, and sampling are ongoing at both the Polelle and Wanganui projects ahead of the proposed drilling at Polelle.
The Polelle targets, identified through the reassessment of Castle Minerals’ (ASX:CDT) surface geochemistry at Polelle using Great Boulder’s targeting criteria, demonstrate similar pathfinder assemblages to the Ironbark and Mulga Bill prospects, part of Great Boulder’s flagship Side Well Gold Project.
One of the first targets to be tested is a 4.4km-long surface anomaly which demonstrates gold, arsenic, and antimony mineralisation coincident with the Albury Heath shear zone, a known mineralised feature that hosts historic gold endowments along strike to the northeast.
The announcement comes a week before Great Boulder’s planned attendance at the RIU Sydney Resources Round-up at Darling Harbour’s Hyatt Regency Hotel on 7-9 May 2024.
Meanwhile, the company is planning to conduct deeper drillholes at the Saltbush gold discovery in the next phase of exploration to confirm the dip and along-strike continuity of the mineralised structure.
Initial drilling at Saltbush was undertaken in December 2023 and returned intersections which Great Boulder says is a sign of the increasingly analogous nature of Saltbush to Ironbark.
Since drilling in December, Saltbush has continued to expand, with aircore drilling in early 2024 extending the strike in excess of 300m.
During the previous quarter, Great Boulder, which has a $37.83 million market capitalisation, continued first-pass drill testing new targets within the Ironbark Corridor at Side Well.
Up to 192 aircore holes were drilled in two areas of the Ironbark Corridor, being the southern end of the corridor, including the Saltbush target, and an area of pathfinder anomalism between 2km and 4km north of Ironbark.
Great Boulder closed the quarter with $3.94 million in cash at hand.
Great Boulder Resources is a mineral explorer with a portfolio of gold and base metals assets in Western Australia ranging from greenfields through to advanced exploration.
Last year’s RIU Sydney Resources Round-up attracted more than 1,500 delegates, making it the busiest since its inception in 2004. With over 800 of last year’s delegates coming from the investor or broker/fund categories, this conference offers investor engagement opportunities.
Write to Adam Drought at Mining.com.au
Images: Great Boulder Resources
