Great Boulder Resources (ASX:GBR) is planning to conduct a follow-up drilling program at the Ironbark deposit after receiving results that demonstrate the prospect remains open to the south.
A reverse circulation drilling program at the southern end of Ironbark intersected shallow mineralisation 60m south of the current resource. Drillhole 25IBRC004 intersected 8m @ 9.07 grams per tonne gold from 113m, including 5m @ 13.84g/t gold from 115m.
Great Boulder, which has a market capitalisation of $51.7 million, says this also shows that “high-grade” mineralisation is potentially plunging beneath the next fence of aircore holes 170m away.
As such, a follow-up program will assess the southern extension prior to an update of the resource estimate.
Managing Director Andrew Paterson says four holes were drilled to test whether the gold mineralisation was closed off to the south.
“The fourth hole has intersected high-grade gold about 60m south of previous drilling,” Paterson says.
“The next fence of drilling to the south is a line of shallow aircore holes another 170m further south, so Ironbark is definitely open along strike and has the potential to grow with further drilling.
“The high-grade zone may be plunging towards the south, which means it could continue beneath the next line of aircore drilling. That’s exactly what we unveiled at Saltbush once we drilled some deeper reverse circulation holes at the northern end.”
Further, the Scoping Study for the Ironbark deposit is on track for completion this quarter.
Meanwhile, reverse circulation drilling is continuing at the Side Well South deposit. The program is following up recent gold discoveries in initial aircore drilling earlier this year.
The Ironbark deposit is part of the broader Side Well Gold Project in Western Australia, which hosts a resource of 668,000 ounces @ 2.8g/t gold.
Great Boulder Resources is a mineral explorer focused on its portfolio of highly prospective gold and base metals assets in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Great Boulder Resources
