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Highlights
- High-Grade Results: Mulga Bill drilling returned gold intersections up to 43.13 g/t.
- Resource Growth: Cervelo Lodes expanded by 30 meters, improving thickness and grade.
- Next Steps: Final holes at Mulga Bill complete soon; air-core drilling starts at Side Well South with October assay results expected.
Great Boulder Resources Ltd (ASX:GBR) has announced promising results from its Side Well Gold Project, located near Meekatharra, Western Australia. The recent reverse circulation (RC) drilling program at the Mulga Bill deposit has yielded multiple high-grade gold intersections, reinforcing the project's potential and continuity.
Strong Drilling Results
The drilling program, which consisted of nine RC holes totaling 1,587 meters, targeted under-drilled areas around high-grade veins. The results have highlighted several significant gold intersections, including:
- 5 meters at 43.13 grams per tonne (g/t) gold from 185 meters, with 2 meters at 102.80 g/t gold from 186 meters.
- 5 meters at 40.61 g/t gold from 256 meters, featuring 1 meter at 194.50 g/t gold from 258 meters.
- 6 meters at 20.52 g/t gold from 179 meters, which includes 2 meters at 57.10 g/t gold from 179 meters.
- 5 meters at 16.93 g/t gold from 91 meters, with 2 meters at 39.70 g/t gold from 92 meters.
These high-grade intersections, particularly the notable 194.50 g/t gold result, are expected to significantly enhance the company’s mineral resource estimate (MRE), which currently stands at 668,000 ounces at 2.8 g/t gold.
Resource Expansion and Economic Potential
The drilling program has successfully extended several lodes, including the Cervelo Lodes, by approximately 30 meters to the north. This expansion adds both thickness and grade to the resource, which is crucial for improving the project's potential mine economics. Infill drilling efforts are anticipated to convert inferred resources into the indicated category, providing a more accurate foundation for future scoping studies.
Managing Director Andrew Paterson expressed enthusiasm regarding the results, stating that the new intersections at Mulga Bill exceeded previous expectations. The successful drilling efforts have added high-grade intersections closer to the surface, which is vital for enhancing the project's economic viability.
Looking Ahead
The RC rig is currently completing the final resource definition holes at the Mulga Bill deposit, while reconnaissance air-core drilling is set to commence at the Side Well South prospect. Furthermore, two diamond drill holes have recently been finished at Mulga Bill, with assay results expected to be released in October. Resource definition work is also being scheduled at the Saltbush prospect to align with the ongoing efforts at Side Well South.
With these developments, Great Boulder Resources Ltd continues to demonstrate strong progress at the Side Well Gold Project, positioning itself favorably in the gold exploration sector.
