Great Boulder Resources (ASX:GBR) has confirmed gold mineralisation north of the current resource area at the Mulga Bill Project, as part of the Side Well Gold Project in Western Australia.
A reverse circulation drilling program has been conducted 250m north of Mulga Bill, with results returning 8m @ 10.84 grams per tonne (g/t) gold, including 3m @ 27.94g/t gold, and 6m @ 7.62g/t gold.
Managing Director Andrew Paterson says these latest results support the company’s expectations to extend and increase Mulga Bill’s resource estimate later this year.
“Reverse circulation drilling immediately north of Mulga Bill has confirmed high-grade mineralisation extending 250m north of the current resource envelopes,” Paterson says.
“This program comes on the back of high-grade hits announced in this area earlier in the year, including 16m @ 13.83g/t gold in hole 24MBRC001.”
Great Boulder, which has a market capitalisation of $27.35 million, says drilling has confirmed high-grade, west-dipping veins continuing towards Mulga Bill North. This further highlights the potential to extend the resource area by at least 250m.
Further, two 200m reverse circulation pre-collars were also drilled for deep diamond tails designed to test high-grade vein positions to 500m below surface.
The diamond core has been logged on site and will be transported to Perth to be cut, sampled, and assayed, with assay results expected next month.
Paterson says the combined footprint of Mulga Bill and Mulga Bill North extends over 2.3km of strike.
“We’ve really only scratched the surface of the northern half of the zone with relatively shallow drilling,” he says.
“The reverse circulation rig has now moved onto resource definition targets at Mulga Bill. This program is designed to infill and extend areas of the inferred resource to upgrade those ounces to JORC indicated category. We will then return to greenfields targets with a first-pass aircore program at Side Well South in late September.”
Great Boulder notes the resource definition program will also provide sample material for metallurgical testwork, which is expected to begin this month.
Once drilling is completed, Great Boulder will shift its focus to Side Well South, where first-pass aircore drilling will test two large, high priority geochemical anomalies.
Great Boulder Resources is a mineral explorer focused on its highly prospective portfolio of gold and base metal projects in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Great Boulder Resources
