Great Boulder Resources (ASX:GBR) has resumed an extensional reverse circulation drilling program at the Mulga Bill North area within the Side Well Gold Project in Western Australia.
Initial drilling will focus on following up previously reported intersections and will continue to define high-grade, vein-hosted gold mineralisation towards the northern end of Mulga Bill.
The company will also conduct aircore drilling to test a poorly defined gold trend northeast of Mulga Bill which may be a parallel zone 200m east of the main corridor.
Great Boulder, which has a market capitalisation of $47.82 million, says the results from the program are expected to be included in a resource update for the Mulga Bill area, extending the resource footprint northwards.
Managing Director Andrew Paterson says analysis of all the geochemistry that’s been collated along the 6km Mulga Bill corridor suggests the dyke at the north end of the resource may be the centre of the mineralised system.
“If that’s correct, we have another 3km of target to the north which we haven’t yet drilled, and gold and associated pathfinder elements are very much open to the north,” Paterson says.
“We are also expecting initial assays from Side Well South in the next two weeks, with 71 aircore holes recently drilled there plus another 22 aircore holes targeting repetitions of the Saltbush area.”
The company notes Mulga Bill, which has a defined resource of 568,000 ounces of gold @ 2.7 grams per tonne, will be one of the main priorities for this year.
Great Boulder believes that the combined Mulga Bill corridor has the potential to contain over 1 million ounces of gold — making it a “significant” deposit in the Meekatharra Goldfield.
Great Boulder Resources is a mineral explorer focused on gold and base metals in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Great Boulder Resources
