Great Boulder Resources (ASX:GBR) - Managing Director, Andrew Paterson
Managing Director, Andrew Paterson
Source: Great Boulder Resources/Twitter
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  • Great Boulder Resources (GBR) receives all the remaining assays for the Side Well Gold Project and other assays for the Mulga Bill and Jones Wello in Western Australia
  • Recent Phase 5 results have infilled the Loaded Dog area of Mulga Bill and have also extended known mineralisation at the nearby Ironbark discovery to 500 metres
  • The results have continued to define high-grade gold mineralisation in the central area of Mulga Bill
  • Reports from the first 19 holes at Jones Well have identified anomalous mineralisation
  • Infill AC drilling in the Loaded Dog area returned some significant grades of gold
  • Great Boulder Resources (GBR) last traded at $0.16 per share before market open on the 22nd of March

Great Boulder Resources (GBR) has received all the remaining assays from its Phase 5 drilling programs completed at the Side Well gold project near Meekatharra in WA last year.

Recent aircore results have infilled the Loaded Dog area of Mulga Bill and have also extended known mineralisation at the nearby Ironbark discovery to 500 metres. Meanwhile, results from reverse circulation (RC) drilling in the area have continued to define high-grade gold mineralisation in the central area of Mulga Bill.

The company today said it has also received assays for the first 38 holes of a 148-hole aircore program completed across the Mulga Bill and Jones Wello areas in March this year.

This program included 25 holes exploring further south on the Mulga Bill corridor and 123 holes testing geochemical anomalies at Jones Well.

Reports from the first 19 holes at Jones Well have identified anomalous mineralisation on the first target, with results pending for 106 holes in that area and four follow-up holes at the southern end of Mulga Bill.

Great Boulder’s Managing Director, Andrew Paterson, said the results from last year’s exploration programs removed a “significant bottleneck” in the company’s exploration process.

“The balance of the RC assays at Mulga Bill have provided important information on mineralised orientations in the high-grade zones, and we are starting to see evidence of interacting sub-vertical and flat-dipping structures,” Mr Paterson said.

Great Boulder said infill drilling in the Loaded Dog area returned some significant grades of gold considered to be very high for drilling in this environment.

“The Side Well project is progressing simultaneously on several fronts,” Mr Paterson said.

“We’re making good progress towards our 100,000-metre drilling target this year which will be a major step towards our goal of reporting a mineral resource estimate on Mulga Bill.”

Great Boulder Resources (GBR) shares were down 15.15 per cent to 14 cents each at 10:50 am AEDT.

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