Mineral explorer Great Boulder Resources (ASX:GBR) is planning to begin a phase three reverse circulation (RC) drill program this month at its Ironbark deposit in Western Australia.
This announcement comes after the company completed a sub-audio magnetic (SAM) geophysical survey over the Ironbark area in early July 2023, which provided targets and structural information for ongoing drill testing.
According to the $38.32 million market capitalisation company’s June quarterly report, a phase two aircore drill program began in July 2023, which is a ‘relatively small’ program of 4,000m of drilling to test areas south of Ironbark and continue exploration at Mulga Bill North.
In addition, Great Boulder is reviewing a ‘large’ heritage survey proposal designed to clear the whole 14km Ironbark corridor as far as the southern tenement boundary.
Great Boulder says this will open up multiple ‘high-priority’ geochemical targets alongside the cluster of old workings in the Saltbush area. A ‘large’ aircore program is anticipated to begin once the heritage clearance has been received.
Meanwhile, at the Wellington Project, the company was granted a fifth and final tenement on 16 May 2023.
The company says it is expecting to complete a soil sampling program on a 1km-by-1km grid over all accessible areas. This will likely be completed by drill contractors, allowing Great Boulder personnel to focus on drill programs at Side Well.
As of 30 June 2023, the company had $4.3 million cash at hand.
Great Boulder Resources is an ASX-listed mineral exploration company focused on its gold and base metal projects in Western Australia. The company’s key focus is on exploring and developing its Side Well Gold Project near the historic gold camp of Meekatharra in the Murchison region.
Write to Aaliyah Rogan at Mining.com.au
Images: Great Boulder Resources Ltd