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Great Boulder Resources (ASX:GBR) - Managing Director, Andrew Paterson
Managing Director, Andrew Paterson
Source: The Pick Magazine [YouTube]
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  • Great Boulder Resources (GBR) spikes on the ASX after releasing the latest drilling and sampling results from its Side Well project in WA
  • The results come from the final batch of assays from an April reverse circulation (RC) drilling program at the Mulga Bill prospect
  • Alongside high-grade gold hits, GBR reports copper, bismuth, and molybdenum anomalies from multi-element analyses
  • The company plans to begin follow-up drilling in the area in July this year
  • Shares in Great Boulder Resources are up 4.4 per cent and trading at 9.5 cents each at 10:35 am AEST

Great Boulder Resources (GBR) is trading higher this morning after releasing the latest drilling and sampling results from its Side Well project in WA.

The results come from the final batch of assays from an April reverse circulation (RC) drilling program at the Mulga Bill prospect. Great Boulder said the assays confirmed the depth continuity of high-grade gold mineralisation in the area.

The best hits from the latest round of results include an eight-metre intersection grading 13.36 grams per tonne (g/t) of gold from 151 metres. The first four metres of this intersection graded 26.42 grams per tonne of gold.

Further to this, multi-element sampling from the area has highlighted a “pathfinder” footprint showing signs of copper, bismuth, and molybdenum alongside the gold in parts of the veins.

Great Boulder Managing Director Andrew Paterson said the results support the company’s geological interpretation at Mulga Bill.

“This gives us confidence to plan further definition drilling in the next program, and we also have new zones to follow up in the northern section,” Mr Paterson said.

“The identification of such a strong pathfinder signature at Mulga Bill is even more exciting. This is an important step forward in our understanding of the project and it indicates the potential for a very large gold system.”

Of the 20 RC holes drilled in the final part of the April program, only three holes did not return any significant mineralisation, according to GBR.

Bismuth anomalies

While the multi-element assays from the Mulga Bill drill samples returned copper grades higher than one per cent, Great Boulder said the bismuth anomaly from the sampling was “particularly compelling”.

For context, GBR said the background concentration of bismuth across the Yilgarn province is around 0.1 parts per million (ppm) of the element, and anything above one ppm is regarded as “significantly anomalous”.

Great Boulder returned a peak value of 121.34 ppm of bismuth in one hole.

This result comes from a 1.2-kilometre footprint alone the western lode structure at Mulga Bill.

“Bismuth forms distinct haloes around the veins and gives us immediate targets for follow-up drilling outside the current area of focus and also justifies some deeper holes into the western and eastern zones,” Mr Paterson said.

“We’d like to get some diamond holes into these areas as soon as we can.”

The company is planning follow-up drilling at the Mulga Bill area for July.

Shares in Great Boulder Resources were up 4.4 per cent and trading at 9.5 cents each at 10:35 am AEST.

GBR by the numbers
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