Great Boulder Resources Limited - Share Mounted on ASX as it hits massive sulphides at Eastern Mafic Complex

  • Aug 03, 2018 AEST
  • Team Kalkine
Great Boulder Resources Limited - Share Mounted on ASX as it hits massive sulphides at Eastern Mafic Complex

Great Boulder Resources Limited (ASX: GBR) announced that drilling has intersected extensive sulphide mineralisation in the initial drill holes at the Eastern Mafic complex which is located 130 kilo-metre east from Laverton in Western Australia. Further, the reverse circulation and diamond drilling has confirmed the bedrock sulphides as the source of Electromagnetic (EM) conductors at the Eastern Mafic complex, within the Mt Venn Project region.

According to the release, the group has drilled a total of 15 RC (reverse circulation), diamond and RC pre-collars till date along with important sulphide mineralization zones which are intersected at anomalies ML5, 9, 12, 15, and 16. Importantly, the mineralisation intersected over 5 km in strike length, affirmed the Eastern Mafic to be a considerable magmatic sulphide system. Eventually, the group will, in a matter of seconds, be able to move the diamond and RC drill rigs back to Mt Venn while examinations are pending, and the downhole electromagnetic (DHEM) survey is completed to better define the conductor plates. Once the assay and DHEM results are received, the drilling will continue at the Eastern Mafic complex.

With this news, the stock climbed up 19.23 per cent with the intra-trading volume of more than 4 million. The stock traded at $0.465 with the market-cap of circa $31.24 Mn as on August 03, 2018 (AEST: 4:30 P.M.).

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