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Great Boulder Resources Limited (ASX:GBR) has announced promising results from its latest reverse circulation (RC) drilling program, revealing fresh gold intercepts to the north of the known mineralization at Mulga Bill in Meekatharra, Western Australia. These new findings extend 250 meters beyond the current resource boundary, suggesting the potential for further expansion of the deposit.
Expanding the Resource Area
The existing resource at Mulga Bill boasts 568,000 ounces of gold at an average grade of 2.7 grams per tonne (g/t), covering a strike length of 2.3 kilometers. The new gold intercepts, located beyond the current resource area, indicate that the mineralized zone may continue further north, opening up the possibility of increasing the overall resource base.
Among the standout results from the recent drilling campaign are an 8-meter intersection grading nearly 11g/t of gold from a depth of 135 meters, including a 3-meter section with near bonanza-grade gold. Additional noteworthy intercepts include:
- 6 meters at 7.6g/t gold from 136 meters depth
- 8 meters at 2.0g/t gold from 72 meters depth, including 4 meters at 3.8g/t gold
- 5 meters at 1.9g/t gold from 117 meters depth
These results underscore the potential for high-grade mineralization to continue north of the existing resource, enhancing the value proposition of the Mulga Bill project.
Ongoing Exploration and Upcoming Results
Great Boulder continues its exploration efforts at Mulga Bill, with RC drilling ongoing. The company anticipates receiving further assay results next month, particularly from two recently completed diamond drill holes. These deeper holes aim to provide more detailed insights into the mineralization at greater depths, which could further inform resource estimates.
In addition to the ongoing drilling, Great Boulder plans to release an updated resource estimate for the Side Well project before the end of the year. This update will incorporate the latest drilling results and provide a clearer picture of the project's potential.
Commentary on the Latest Drilling Results
Andrew Paterson, Managing Director of Great Boulder, commented on the recent findings, emphasizing the significance of the high-grade mineralization identified north of the current resource area. Paterson highlighted that this new drilling program builds on earlier successes, including a notable 16-meter intersection grading 13.83g/t gold from hole 24MBRC001.
The combined footprint of Mulga Bill and the newly identified Mulga Bill North now spans over 2.3 kilometers of strike length. Despite this extensive coverage, exploration has only begun to scratch the surface, particularly in the northern half of the zone, where drilling has been relatively shallow.
Outlook for Great Boulder Resources
With continued exploration and the upcoming release of additional assay results, Great Boulder Resources remains well-positioned to further define and potentially expand its resource base at Mulga Bill. The company’s ongoing commitment to drilling and resource evaluation will likely play a crucial role in determining the future development and value of its assets in the Meekatharra region.
Investors and stakeholders will be closely watching the upcoming updates as Great Boulder continues its exploration journey, with a particular focus on the potential expansion of the Mulga Bill resource and the implications for the broader Side Well project. The continued discovery of high-grade gold intercepts could significantly enhance the company's prospects in one of Western Australia's most promising gold districts.
