Form Bulls and Bears in today's Western Australian
Neighbouring discovery buoys Estrella at Carr Boyd
Estrella Resources says it is sizing up Great Boulder Resources’ high-grade gold discovery along trend from and immediately to the south of its Carr Boyd nickel discovery north of Kalgoorlie. Estrella says its field team is weighing up the latent potential of its project area around Carr Boyd for gold after Great Boulder’s stock quadrupled in the last month based on its gold discovery.Estrella has dusted off the geological data on gold targets that take in significant old gold workings on its own Carr Boyd lease, following an announcement by Great Boulder Resources Ltd who recently reported a “large-scale gold discovery” at its Blue Poles project.Three old workings on the Carr Boyd ground – Granite, Porphyry Hill and Marsh Dam – will be part of Estrella’s accelerating quest for gold.Great Boulder is earning 75 per cent on its ground from Zabina Mining.Also of significance to Estrella is the Whiteheads Trend that takes in the Seven Leaders prospect that is Great Boulder’s boundary and close to Marsh Dam.Estrella’s Managing Director Chris Daws said Blue Poles is 4km south of the Carr Boyd ground and is on what has been named the Arsenal Trend which is potentially the sheared edge of the Carr Boyd Complex according to the company.Recent mapping of the Carr Boyd intrusion has shown a structural corridor between Seven Leaders on the Whiteheads Trend and historic gold workings at Porphyry Hill. The Marsh Dam workings and the Granite gold prospect show a geological setting of over 15km.There are several old shafts at Porphyry Hill where gold in quartz veining was mined. Grab samples of shaft spoils taken back in 1988 by Defiance Mining ran between 1.5 grams per tonne and 39.3 g/t. One RAB hole by Defiance hit 4m at 4.1 g/t gold.Then, in 2013, Salt Lake Mining obtained grades of between 0.25 g/t to 70 g/t in the same area, also from the old shafts.At present, Estrella is focused on nickel-copper exploration, however, the gold potential at Carr Boyd was also being assessed by the company’s geologists in the course of normal duties,The company will keep a working brief on developments at GBR’s (Great Boulder’s) Whiteheads project whilst progressing our own gold prospectivity to a drill-ready status.Estrella Resources Managing Director, Chris Daws
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