Great Boulder Resources (ASX: GBR) has drilled high-grade gold hits in exploration at Mulga Bill target at the company’s flagship Side Well Gold Project near Meekatharra in Western Australia.
“Recent RC drilling at Mulga Bill has intersected more sensational gold grades, with assays as high as 248g/t Au. There are also broad intersections showing good grade closer to surface, which are important in a potential mining scenario,” Managing Director, Andrew Paterson, said.
“As we finalise preparation for the pending Side Well resource update all of this data will inform the new model.”
I’m also very pleased to report that the first of two Aboriginal heritage surveys was completed on schedule at Ironbark South. The second is scheduled for mid to late October, after which we’ll be able to start testing new targets that have never been drilled before. This is an exciting and important step forward in our exploration program at Side Well.”
Since mid -eptember 2023, nine resource definition RC holes were drilled for 2,098m in the Phase 4 programme, followed by 20 Phase five shallow RC holes (2,316m) improving the definition of shallower mineralisation within the regolith.
At the end of the campaign five holes were drilled at Mulga Bill North for 977m, following up high- grade results from the previous two drilling programs. The RC rig has now left site while Great Boulder’s geologists compile data and update mineralisation wireframes for Mulga Bill and Ironbark in preparation for the updated mineral resource estimate (MRE), which remains on track for the end of October.
With assay turnaround currently averaging 21 days all results from Phase 4 and 5 drilling should be available by early October for inclusion in the updated resource. It is uncertain whether the Mulga Bill North area has sufficient drilling to be included as a new zone of Inferred Resource mineralisation; if not, it will be included in a subsequent update.
Yugunga Nya heritage and land access
An archaeological survey was completed in the Ironbark South area in mid-September. The survey was a combination of site avoidance methodology for proposed drill lines, clearing 50m-wide east- west lines 200m apart, and an area clearance survey around old mine workings at the Saltbush prospect. In this manner approximately half of the 14km-long Ironbark Corridor has now been surveyed for artefacts, from the southern tenement boundary to the Goldfields Highway.
In mid-October a second survey is scheduled for the northern half of the corridor as well as an ethnographic survey over the whole area. Once the ethnographic survey is complete and the archaeological and anthropological report is received, the Company hopes to be able to commence drill testing priority targets as soon as possible.
Next Steps
Great Boulder’s geological team will update all geology and mineralisation wireframes for Mulga Bill and Ironbark in order to deliver the data to an independent resource estimation consultant by 16 October. The company is aiming to have new resource estimates completed by the end of October.
While that process is underway, the team will assess new results from Mulga Bill North and consider whether there is sufficient drilling data and continuity to inform an Inferred resource, additional to the current MRE.
The company will also finalise planning and approvals in preparation for regional AC testing on priority targets within the Ironbark Corridor as soon as heritage clearance reports are received.
The geological team has commenced field mapping the newly acquired ground south of Saltbush prospect.
