Great Boulder Resources (ASX:GBR) is aiming to prepare an updated resource estimate for the Side Well Gold Project in Western Australia, by the end of the year.
As part of delivering the updated resource estimate, Great Boulder has launched a 21,000m drilling program. Drilling began in mid-July, with the aim to deliver new gold discoveries, while simultaneously extending and upgrading known deposits.
Great Boulder, which has a market capitalisation of $30.32 million, has drilled 103 aircore and reverse circulation holes for 9,063m to date.
During the second quarter of 2024, reverse circulation drilling results from Mulga Bill returned 16m @ 13.83 grams per tonne gold from 107m.
The company says this vein appears to dip west and plunge towards the north on the same orientation as similar veins within the Mulga Bill mineral resource, which opens up the potential to extend the deposit’s resource to the north.
At the Saltbush discovery, a shallow, “high-grade” gold mineralisation over more than 300m of strike has been defined. Step-out drilling is planned to be completed this month to test strike extensions within a surface anomaly stretching 2km to the north-northwest.
Great Boulder says resource definition drilling will be completed during the second half of this year to estimate an initial mineral resource for Saltbush.
While this work continues, the company’s field team has been conducting mapping and surface geochemistry at Side Well South and Polelle, in order to generate new greenfields exploration targets.
Meanwhile, in early July, Great Boulder bolstered its cash balance through receiving $558,000 in research and development funding. This adds to the $2.927 million in cash and cash equivalents the company had at hand, as of 30 June 2024.
Great Boulder Resources is a mineral explorer focused on its portfolio of gold and base metals projects in Western Australia. The company’s main focus is the Side Well Gold Project which has an inferred resource of 7.45 million tonnes at 2.8 grams per tonne gold for 688,000 ounces of gold.
