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Great Boulder Resources [ASX: GBR] has announced promising results from its recent 13-hole aircore drilling campaign at Mulga Bill North, confirming gold mineralisation across a 400-meter strike length. The latest data, released on Tuesday, includes:
- 17 meters at 1.4g/t gold from a depth of 49 meters
- 14 meters at 1.75g/t gold from a depth of 70 meters
- 13 meters at 2g/t gold from a depth of 136 meters
- 5 meters at 3g/t gold from a depth of 140 meters
These results are expected to contribute to an updated mineral resource estimate (MRE) for the Mulga project, with further investigation planned for the Saltbush target in the future.
On-site exploration continues with reverse circulation (RC) and diamond drill rigs targeting additional areas. The company anticipates the updated MRE will be completed before the end of 2025.
Despite limited pre-market commentary on HotCopper regarding Tuesday's announcement, GBR management remains optimistic about the upcoming resource upgrade. GBR Managing Director Andrew Paterson noted:
“These new intersections align with our previous interpretation, showing multiple lodes similar to Mulga Bill and good strike continuity. We have mineralisation over a 400-meter extent along strike, with only a small amount of additional drilling needed to integrate this area into the resource. Five additional holes from the program remain incomplete due to wet weather.”
The 2,040-meter aircore drilling campaign was conducted along a 400-meter stretch between 950 and 1,350 meters north of Mulga Bill. GBR’s shares were last traded at 4.7 cents per share.
