Mineral exploration company Great Boulder Resources (ASX:GBR) reports it has acquired a 61km-square exploration licence at Gnaweeda, located 10km east of the company’s Side Well Gold Project near Meekatharra in Western Australia.
The company says a 100% interest in E51/1995 was acquired from ASX-listed resource company Empire Resources (ASX:ERL) for consideration of $10,000 plus a 1% gross revenue royalty. The tenement, considered by Empire to be a non-core asset, was first granted on 9 July 2021 and is reportedly in good standing.
Great Boulder Resources Managing Director Andrew Paterson says: “This acquisition within 10km of Side Well and at the southern end of Meeka Metals’ (ASX:MEK) project is an opportunistic addition to the company’s portfolio. It sits over the southern end of the Gnaweeda Greenstone Belt and straddles the same Proterozoic dyke that cuts through Mulga Bill.
“This acquisition within 10km of Side Well and at the southern end of Meeka Metals’ (ASX:MEK) project is an opportunistic addition to the company’s portfolio”
There appears to be a thin blanket of alluvial cover obscuring the underlying geology and very little previous exploration has been conducted. I think both factors play to our strengths, given Great Boulder’s success at the Mulga Bull deposit and our refined technique for exploring in this type of terrain.
The $10,000 acquisition cost makes this a low-risk entry into a mineralised greenstone belt that is currently producing some extremely exciting drill results at Meeka Metals’ St Anne’s Project to the north.”
Great Boulder reports its exploration team will collate and assess any historic exploration data available on the Department of Mines, Industry Regulation and Safety (DMIRS) WAMEX database. Field reconnaissance and regolith mapping will be completed prior to commencing initial geochemical exploration programs.
Great Boulder Resources is a mineral exploration company with a portfolio of gold and base metals assets ranging from greenfields through to advanced exploration in Western Australia.
The company’s core focus is the Whiteheads and Side Well Gold Projects, as well as the Wellington Base Metal Project.
Images: Great Boulder Resources Ltd & iStock
