Great Boulder Resources (ASX:GBR) is planning a high-impact discovery drilling program at the Side Well Gold Project in Western Australia, after identifying multiple new targets.
A second drill rig is due to be onsite later this month, which will allow the company to expedite progress on current programs as well as start first-pass drilling on the new targets identified.
Great Boulder, which has a market capitalisation of $54.25 million, conducted an induced polarisation survey which identified the targets north of existing resources at Mulga Bill and Ironbark.
Chargeability anomalies were uncovered over a 3km strike length north of Mulga Bill, including at the Eaglehawk prospect. Meanwhile, a new target corridor was also identified midway between Mulga Bill and Ironbark, with coincident anomalous chargeability and density.
Managing Director Andrew Paterson says the company ran some broad IP lines right across the Central and Eastern corridors looking at areas where there was little or no drilling.
“The purpose of this activity is to look for greenfields gold targets to add to our prospect pipeline,” Paterson says.
“We now have shallow chargeable IP anomalies in several areas which require drill testing, and a second drill rig heading to site in late August.”
A reverse circulation rig has completed a resource definition program at Eaglehawk and Mulga Bill. The rig is now completing exploration and resource definition drilling at Side Well South.
Geotechnical studies on the Ironbark pit are being planned, including drilling diamond holes for geotechnical and metallurgical purposes. Samples selected from recently completed waste rock characterisation drilling are being analysed.
Further design work for Ironbark is ongoing.
The Side Well Gold Project, located near Meekatharra in Western Australia, contains a resource of 668,000 ounces @ 2.8 grams per tonne gold.
Great Boulder Resources is an Australian mineral explorer focused on gold and base metals.
Write to Aaliyah Rogan at Mining.com.au
Images: Great Boulder Resources
