Worker on site. Source: Great Boulder Resources
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Great Boulder Resources (GBR) receives results from a recent 3D induced polarisation survey at Mulga Bill within the Side Well gold project in WA
  • The survey has identified large chargeable zones interpreted to be disseminated sulphide bodies beneath the central three-kilometre strike of Mulga Bill
  • The survey results indicate the presence of cross-cutting structures that intersect Mulga Bill, explaining breaks in both the strike and depth of the sulphide zones
  • Great Boulder Resources plans to follow up the findings with deeper drilling to test the sulphide target
  • Company shares have been trading flat at 9.6 cents in early morning trade

Great Boulder Resources (GBR) has received new results from a recently completed offset pole-dipole induced polarisation (IP) survey at Mulga Bill.

Mulga Bill is located within the Side Well gold project in Western Australia.

The IP survey was completed in mid-April by Moombarriga Geoscience, with data processed by Terra Resources.

Positively for the company, the survey has identified large chargeable zones that are interpreted to be disseminated sulphide bodies beneath the central three-kilometre strike of Mulga Bill.

The survey results indicate the presence of cross-cutting structures that intersect Mulga Bill, explaining breaks in both the strike and depth of the sulphide zones.

These zones correlate very closely with the gravity anomaly identified by GBR’s survey last year.

The previously-recognised correlation between gold and sulphur in GBR’s assay data suggests sulphide zones are an essential target for gold mineralisation.

Great Boulder Managing Director Andrew Paterson said the company now has a three-dimensional model of chargeable sulphide along the central part of Mulga Bill that is planned to be drill tested.

“The significance of the sulphide target is that we’ve already identified a relationship between pyrite and gold mineralisation, so any areas where sulphides have been identified are a priority exploration target for gold,” Mr Paterson said.

In the area where a gravity-EM “bullseye” target was tested by three RC holes late last year, the chargeable response sits deeper than GBR’s RC holes, meaning this area requires deeper drilling to test the sulphide target properly.

The company is continuing to interpret the structures using the combined IP and gravity data.

GBR was trading flat at 9.6 cents at 10:27 am AEST.

GBR by the numbers
More From The Market Herald
The Market Herald Video

" Payright (ASX:PYR) settles “transformational” funding package to pursue growth

Payright (ASX:PYR) completes its settlement of funding package, comprising a $125 million warehouse facility led by…
Titomic (ASX:TTT) - Managing Director, Herbert Koeck

" Titomic (ASX:TTT) on track to deliver world’s first mould coatings system

Additive manufacturing company Titomic (ASX:TTT) is on track to deliver the world's first automated cold spray…

" Apiam Animal Health (ASX:AHX) executes growth strategy with two acquisitions

Apiam Animal Health (ASX:AHX) has announced new acquisitions as part of its growth strategy to double…
Unibail Rodamco Westfield (ASX:URW) - CEO & Chairman, Jean-Marie Tritant

" Unibail-Rodamco-Westfield (ASX:URW) rebrands three flagship centres

Unibail-Rodamco-Westfield (ASX:URW) has rebranded three flagship centres in Madrid, Stockholm and Warsaw