Great Boulder Resources (ASX:GBR) has made a new shallow vein discovery via drilling at the Mulga Bill prospect, part of the Side Well Gold Project in Western Australia.
At Mulga Bill, four holes were drilled to the south to define the thickness of the cross-cutting Proterozoic dyke at the northern end of the Mulga Bill mineral resource.
Great Boulder, which has a market capitalisation of $36.37 million, says drilling returned 32m @ 8.38 grams per tonne (g/t) gold from 104m, including 18m @ 13.76g/t gold from 104m, and 26m @ 3.31g/t gold from 88m, including 8m @ 10.02g/t gold from 88m.
The company says the new vein discovery extends into Mulga Bill North, where drilling has defined gold mineralisation over 1.5km strike.
Managing Director Andrew Paterson says drilling has defined the discovery over 150m of strike, with indications that it could extend to 350m or more.
“It appears to have the same orientation as high-grade veins previously discovered within the resource area and has the potential to be a significant extension to the Mulga Bill deposit,” he says.
“This new discovery connects the Mulga Bill and Mulga Bill North prospects. Mulga Bill North is 1,500m long and still relatively poorly drilled. It’s a big gold system and we definitely haven’t defined the full extent of it yet.
“The northern end of Mulga Bill is the shallowest part of the mineral resource, so any additional gold ounces defined in that area have good potential to enhance the economics of the project.”
Further drilling has been completed in the area to confirm the orientation of the new mineralisation. Results are expected in three to four weeks.
Meanwhile, 26 aircore holes were drilled north of the dyke and at Mulga Bill North to continue defining gold in this area. Initial results from 12 holes show gold enrichment coinciding with the continuation of the new vein discovery, with bottom-of-hole gold anomalism extending over 250m north of Mulga Bill.
The company says this provides a target for deeper drilling.
Assays are pending on recent reverse circulation and aircore drill holes at Mulga Bill North.
Great Boulder says the aircore drill rig has moved south to the Polelle Project, 14km south of Meekatharra. The company has planned 45 aircore holes to be drilled as a test of some of the geochemical targets in the area.
The company is also finalising plans to undertake additional heritage surveys over Side Well South and Polelle in late July.
Write to Aaliyah Rogan at Mining.com.au
Images: Great Boulder Resources
