Great Boulder Resources (ASX:GBR) has returned multiple ‘high-grade’ gold hits outside the resource area within the Side Well Gold Project near Meekatharra, Western Australia.
Drilling has extended the known mineralisation at the project within the current 1 million ounce gold resource, defining ‘high-grade’ gold between the main Mulga Bill corridor and Mulga Bill East.
The company also confirmed continuity of gold mineralisation between the Mulga Bill and Eaglehawk deposits from this drilling campaign.
Highlights from drilling include 21m @ 7.24 grams per tonne gold from 99m; 9m @ 14.10g/t gold from 91m; 4m @ 23.6g/t gold from 134m; and 6m @ 8.04g/t gold from 156m.
Great Boulder is continuing reverse circulation drilling at the Eaglehawk deposit, with aircore drilling ongoing on broad-spaced fences of reconnaissance drilling over the Eastern Corridor.
Planning is underway to start drilling immediately at the Peak Hill Gold Project after the completion of the acquisition and the receipt of final approvals. The transaction is expected to be complete in mid-June.
Managing Director Andrew Paterson says the results indicate that the company is “exceptionally well on track to grow the Side Well resource from 1 million ounces”.
“The latest assays extend the known mineralisation in multiple areas outside the resource and importantly, they contain high-grade mineralisation which are anticipated to provide a significant boost to the economics in a production scenario,” Paterson says.
“There are two results of particular significance: First, drilling between Mulga Bill and Mulga Bill East indicates continuity of west-dipping high-grade veins through an area of limited previous drilling; and secondly we have identified mineralisation in the 100m-long gap between Mulga Bill and Eaglehawk, confirming that this is a continuous system at least 2.5km long.
“With drilling intersections announced earlier in the year finding new high-grade lodes west of Mulga Bill and at depth, this deposit effectively remains open in all directions.”
Great Boulder Resources is a mineral explorer with gold and base metals in Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: Great Boulder Resources
