AUS
NZ
UK
CA
USA
IND
Great Boulder Resources Limited (ASX:GBR) is into mining services. The company provides exploration, development, and mining of gold deposits. The company has consolidated a high-quality portfolio of five exploration projects in the world-class mineral camps of the Eastern Goldfields, Western Australia
Today, on 18 February 2019, the company announced that it has started drilling at the Eastern Mafic complex, part of the companyâs larger Yamarna Project in Western Australia.
An initial diamond hole is being drilled into the Zermatt prospect to a target depth of 700 meters downhole. The drill hole is designed to test the core of the Eastern Mafic in an area considered prospective for high-grade nickel and copper mineralisation. Reverse circulation and diamond drilling will also test several deeper targets within the Eastern Mafic complex at the Cortina, Ben Lomond and ML13 prospects.
The drilling program will identify additional mafic intrusions with high-tenor nickel and copper sulphide mineralisation, which are primary in the formation of high-grade sulphide deposits. The modelled extents of the Eastern Mafic complex will be tested by the drilling, and it will try to identify the base of the intrusion where accumulations of massive sulphide mineralisation may form. Down-hole EM surveys will be completed on all drill holes. DHEM has successfully detected massive sulphide mineralisation over 200 meters from the drill hole in previous drilling and will be a key exploration tool in testing deeper targets at the Eastern Mafic.
Drilling at the Zermatt, Cortina, ML13 and Ben Lomond prospects will cover a 5 kilometer northwest area of strike along a structural corridor of the Eastern Mafic complex. The dominant north-west structures that splay off the larger Yamarna shear zone are interpreted as important craton boundary structures that allow nickel and copper-rich mafic intrusions to travel towards the Earthâs surface from deep within the mantle. Magmatic sulphide deposits, such as Nova-Bollinger and Voiseyâs Bay, tend to form in conduits known as chonoliths, where sulphide mixes with nickel and copper from the mafic intrusion and then separates into massive sulphide deposits.
Assay results and geological logging has also demonstrated the Eastern Mafic is comprised of multiple mafic intrusions. Each intrusion exhibits a relatively consistent nickel-tenor, with intrusions intersected at depth showing an increase in nickel-tenor. The goal of this drilling program is to identify additional mafic intrusions that show a significant increase in nickel grade and tenor that can support a high-grade nickel deposit.
On the price-performance front, the stock of Bingo Industries last traded at $0.150 with a market capitalisation of circa $12.02 million. The stock has generated a YTD return of 7.14% and posted negative returns of 65.91% and 3.23% over the last six months and three months period respectively. It has a 52-week high price of $0.570 and a 52-week low price of $0.125 with an average trading volume of 57,353.
Disclaimer
This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.
