Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest news from Great Boulder Resources Ltd (ASX:GBR).
The company has made a high-grade gold discovery at the Mulga Bill North prospect within the Side Well Gold Project near Meekatharra, Western Australia.
The latest results from extensional reverse circulation (RC) drilling include 29 metres at 3.15 g/t gold from 91 metres, with a higher-grade portion of 8 metres at 6.03 g/t.
The company has identified a new mineralised zone hosted in the same geological unit as the existing 568,000-ounce Mulga Bill deposit, suggesting potential for more than one million ounces of gold within the 2.5-kilometre strike drilled to date.
To date, the Side Well Project’s mineral resource estimate (MRE) stands at 668,000 ounces at an average grade of 2.8 g/t.
Great Boulder Resources has completed several rounds of RC drilling, including 13 holes, targeting known and new mineralisation.
Future work will focus on incorporating this discovery into the maiden MRE for Mulga Bill North, which will contribute to an expanded resource estimate for the project.
Additional activities include metallurgical testing, mining lease negotiations, and exploration further north where shallow aircore drilling has indicated resource growth potential.
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