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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) has announced more high-grade gold hits and outlining a new drilling target at its Side Well project in WA
  • The company says a reverse circulation hole drilled at the Mulga Bill corridor returned a six-metre hit grading 39.15g/t gold from 101 metres
  • Meanwhile, diamond drilling in the area also hit high-grade mineralisation, while a gravity survey helped highlight a “high priority” exploration target
  • Looking ahead, Great Boulder says its fifth-phase RC drilling program at Mulga Bill is tracking along nicely and set to be finished up in the next two to three weeks
  • Shares in Great Boulder are down 10.3 per cent to trade at 17.5 cents each

Great Boulder Resources (GBR) has announced more high-grade gold hits and outlining a new drilling target at its Side Well project in WA.

The company today reported on assay results from a fourth-phase reverse circulation (RC) drilling program in the Mulga Bill corridor.

Specifically, one hole drilled between two previously-reported intersections returned a six-metre hit grading 39.15 grams of gold per tonne (g/t gold) from 101 metres.

Great Boulder said this intersection supported the company’s theory that high-grade mineralisation was associated with stacked, shallowly west-dipping pyrite-rich
quartz veins in this part of Mulga Bill.

Meanwhile, assays from a diamond hole drilled back in August returned intersections including a 0.65-metre hit at 42.2g/t gold from 253.2 metres and a 0.61-metre hit at 41.3g/t gold from 289.09 metres.

Alongside the drilling results, Great Boulder reported on a recent high-resolution gravity survey taken on in the project area.

The company said when combined with previous electromagnetic data from the project, the gravity survey emphasised the scale of the Mulga Bill corridor. Particularly, the survey highlighted a three-kilometre section where “coincident gravity and conductive features” indicated a high-priority exploration target.

Great Boulder Manager Director Andrew Paterson said this was a “significant development” in the company’s understanding of Mulga Bill.

“The geophysical interpretation has sharpened our focus on the 3km zone between the two Proterozoic dykes,” Mr Paterson said.

“So far we’ve only drilled the first 900 metres of strike in this area with extremely high-grade gold intersections. Our new model suggests the most prospective area is further south, where we have gold and bismuth pathfinders in aircore drilling but we haven’t yet tested it with any RC drilling.”

Looking ahead, Great Boulder said its fifth-phase RC drilling program at Mulga Bill was tracking along nicely and set to be finished up in the next two to three weeks.

As part of this program, the company said it planned to start testing deeper priority targets and some initial holes at the Ironbark and Loaded Dog prospects.

Meanwhile, Great Boulder said the next phase of aircore drilling was underway and testing “a range of targets” at Mulga Bill and some regional areas of the wider Side Well project.

Shares in Great Boulder were down 10.3 per cent to trade at 17.5 cents each at 10:41 am AEDT. The company has a $69.66 million market cap.

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