Gold and base metal mineral exploration company Great Boulder Resources (ASX:GBR) has expanded the total landholding of its Meekatharra footprint in Western Australia .
Great Boulder reports it has acquired tenement E51/1995 from mineral exploration and resource investment company Empire Resources (ASX:ERL).
The company says a 100% interest in the 61km-square tenement was acquired from Empire Resources for $10,000 plus a 1% gross revenue royalty and is considered by Great Boulder to boast potential for Au mineralisation along the Turnberry – St Anne’s trend.
Tenement E51/1995 is located at the southern end of the Gnaweeda belt in WA’s Meekatharra region, about 10km east of its Side Well Project and within proximity to Meeka Metals’ St Anne’s Project to the north.
Managing Director Andrew Paterson says the tenement acquisition provides the company with an opportunity to bolster its portfolio.
“This acquisition within 10km of Side Well and at the southern end of Meeka Metals’ project is an opportunistic addition to Great Boulder’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’ project is an opportunistic addition to Great Boulder’s portfolio”
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.”
Meanwhile, the company also reports that it has received ‘high-grade’ gold assays from its Side Well Gold Project.
The results returned from the Side Well project, generated by 21 drillholes as part of a phase 6 reverse circulation (RC) drilling program conducted at the Ironbark and Mulga Hill deposits, have returned Au grades of up to 11.85g/t Au and confirm the prospectivity of the Ironbark South area.
‘Significant’ results returned from Mulga Bill include hole 22MBRC094 with 8m @ 6.51g/t Au from 96m, including 4m @ 11.85g/t Au from 96m, which was returned from the recently discovered eastern ‘high-grade’ zone.
Key results returned from Ironbark include hole 22IBRC039 with 24m @ 1.19g/t Au from 68m, including 8m @ 2.76g/t Au from 76m, and hole 22IBRC043 with 4m @ 1.15g/t Au from surface.
The company notes that these ‘high-grade’ results represent the final round of RC drilling at the Side Well project, with the field team working to complete mapping, interpretation of results, preparation of mineralisation wireframes and additional auger sampling ahead of the next round of drilling.
In addition, auger data analysis from Ironbark North and South indicates that a ‘large’ hydrothermal Au camp, which is comparable in size to the Paddy’s Flat gold camp, is present within the project and is reported to stretch over 12km of strike.
Rock chip samples taken from this area have returned Au grades of up to 7g/t Au and confirm the prospectivity of the Ironbark South area.
These results are expected to be applied into a planned maiden Mineral Resource Estimate (MRE) for the Mulga Bill and Ironbark deposits, which is expected to be delivered during Q1 of this year.
Speaking on the results, Andrew Paterson adds: “These are the final batches of assays from RC drilling at Mulga Bill and Ironbark. We have demobilised the rig to give our field team a chance to complete geological mapping down the eastern side of Side Well including Ironbark and Ironbark South.
“These are the final batches of assays from RC drilling at Mulga Bill and Ironbark”
We have also started fine-tuning mineralisation wireframes for Mulga Bill and Ironbark in preparation for a maiden mineral resource estimate in the first quarter of 2023. That estimate will be an important step for Great Boulder as it will draw a line under the work we have already done and provide a clear benchmark for the potential of current and untested target areas.”
Great Boulder Resources is an ASX-listed mineral exploration company that boasts a portfolio of high-quality gold and base metal projects in Western Australia. The company is currently focused on exploring and developing its ‘high-grade’ Side Well project near the historic gold camp of Meekatharra in the Murchison region.
With exploration at the Side Well project still ongoing and the acquisition of the new tenement now complete, Great Boulder Resources announces it will complete field reconnaissance and regolith mapping prior to the commencement of initial geochemical exploration programs at the new tenement.
Images: Great Boulder Resources Ltd
