Joint Venture Between Great Boulder Resource And Ausgold

  • Oct 05, 2018 AEST
  • Team Kalkine
Joint Venture Between Great Boulder Resource And Ausgold

Great Boulder Resources Limited (ASX: GBR) is a mineral resources company focusing on exploration, discoveries and stating the exact position of nickel, cobalt, copper and gold resources within the eastern goldfield region of West Australia. The company’s management and exploration team have around 150 years of experience in this mineral resource sector which has to lead to the discovery of Mt Venn Ni-Cu-Co prospect.

Recently, Great Boulder Resources Limited has entered into a joint venture with Ausgold Limited to form a joint venture (JV) over Ausgold’s Yamarna nickel project in West Australia. This project is towards the 40km north of their discovery Mt Venn Ni-Cu-Co prospects and it spreads in 300 square kilometers.

Drilling at Yamarna nickel project which is its primary target has intersected nickel cobalt sulphide mineralization at its Winchester prospect.

Drilling at Mt Venn which has now become attractive to produce mostly disseminated chalcopyrite (copper), pentlandite (nickel) and pyrrhotite/pyrite(iron) through drillings.

As a result of the joint venture between Ausgold and Great Boulder Resource (AUX: GBR), it can make a profit of around 75% of the Yamarna nickel project by issuing Ausgold 1.5m GBR shares and spending $500,000 over a period of 4 years. 

Further steps may be taken by Great Boulder Resource:

GBR has taken RC and will mobilize it to the completion of the drilling at the eastern Mafic. 2 3 holes have been made for the test purpose of the conductor plate.

Despite the positive announcement, GBR’s stock plunged 4.167 per cent with the intra-day traded volume of around 37,064. GBR’s share traded at $0.230 with a market capitalization of $19.23 million as on 5 October 2018 (AEST 4:00 PM).

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