ASX Announcement29 July 2021
Quarterly Report to 30 June 2021Highlights
The Mulga Bill prospect at Side Well has experienced a step- change in the last quarter, with two significant developments:
1) Confirmation of two high-grade lodes with results up to 6m @ 31.25g/t Au in 21MBRC002; and
2) Interpretation of a large, intrusive-related gold system which indicates potential for significant strike and depth extent
Recent high grade RC results include:
6m @ 31.25g/t Au from 130 in 21MBRC002, including 1m @
136.46g/t from 132m
8m @ 7.51g/t Au from 68m in 21MBRC016
4m @ 7.33g/t Au from 111m and 4m @ 26.42g/t Au from 151m in 21MBRC017
A third round of RC drilling has since been completed at Mulga Bill, followed by an AC program. A short diamond drilling program is now in progress
Soil sampling on the north end of Side Well has identified a number of multi-element anomalies that require further testing
Further encouraging AC results on two new areas along the Arsenal Trend at Whiteheads
A third round of RC drilling was completed at Blue Poles in June, with assays expected in early August
Regional auger sampling and AC drilling programs are ongoing at Whiteheads on a campaign basis
The Company secured a large tenement holding over an exciting conceptual Zn-Pb target in the Earaheedy Basin in April
Strong cash balance with $6.8M in cash reserves as at 30 June 2021 post strongly supported $5.5m placement completed in May
ASX Code: GBR
Capital Structure
Ordinary Shares: 355m Unlisted Options: 29.1m Current Share Price: 8.5₵Market Capitalisation: A$30.2m Cash: A$6.8m
Debt: Nil
Board of Directors
Greg Hall
Non-Executive Chairman
Andrew Paterson
Managing Director
Melanie Leighton
Non-Executive Director
Melanie Ross
Company Secretary
Projects
Side Well
Whiteheads
Yamarna (Mt Venn - Eastern Mafic) Winchester
WellingtonASX Code:GBRP:+61 8 9321 6037 PPO Box 677, West Perth 6872, Western AustraliaABN 70 611 695 955
Contact:Andrew Paterson, Managing DirectorE:[email protected]
GREATBOULDER.COM.AU
ASX Announcement29 JULY 2021
Executive Summary
Great Boulder has experienced an exciting quarter. With significant success at Whiteheads and Side Well leading to successive ASX announcements in early May. The Company has seen a significant uplift in share price accompanied by increased market awareness and media coverage.
A second round of RC drilling at the Blue Poles prospect at Whiteheads confirmed a broad zone of thick, continuous gold mineralisation along a 450m strike. Blue Poles remains open down-dip, and gold grades in wide-spaced drilling to the north and south suggest potential for extensions in both directions. The Company has since completed a third round of RC to infill and extend Blue Poles, as well as a 100-hole regional air-core (AC) drilling program testing other prospects in the area.
After a series of AC programs at Mulga Bill to generate gold targets, the first round of exploratory RC holes returned some exceptionally high-grade intersections including6m @ 31.25g/t Auin 21MBRC002 and4m @ 26.42g/t Auin 21MBRC017. This 29-hole program confirmed two sub- parallel gold lodes; a western lode position has been drilled along a strike of 900m and an eastern lode position has been drilled over 500m. Both lodes remain open at depth and along strike, and similar targets remain to be tested to the north and south of this area.
Another important development at Mulga Bill is the analysis of multi-element assays from GBR’sdrilling programs, leading to recognition of a trace element association indicative of an intrusive- related gold system. This understanding, along with the fact that the geochemistry reveals a very strong, broad bismuth footprint coincident with the gold lodes over an open 1,200m strike extent, indicates Mulga Bill has significant scale potential along strike and at depth.
Mulga Bill now has the makings of a large, high-grade gold system. The Company aims to test this hypothesis with ongoing drilling programs as quickly as possible.
FIGURE1:SUNSET AT MULGA BILL(PHOTO CREDIT:ETHAN LAPSLEY)
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ASX Code:GBRContact:Andrew Paterson, Managing DirectorE:[email protected]P:+61 8 9321 6037 PO Box 677, West Perth 6872, Western AustraliaABN 70 611 695 955
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FIGURE2:GBR'S PROJECTS IN WA
In May, Great Boulder announced a placement of approximately 69.2 million shares at $0.08 to raise $5.5 million. This funding places the Company in an excellent position to accelerate drill programs through the second half of 2021.
During the June quarter the Company drilled 14,883m of RC and AC holes at Side Well and Whiteheads. This drilling advance is almost a three-fold increase compared to the previous quarter.
Project
Program Holes Drilled
Metres
Side WellMulga Bill phase 2 RC Regional AC
29 4,330 53 3,301
204 14,883
Whiteheads
Blue Poles phase 3 RC 22
2,985 4,267
Regional AC 100
Total
ASX Code:GBRP:+61 8 9321 6037
All drilling programs
TABLE1: JUNE2021QUARTERLY DRILLING SUMMARY
Contact:Andrew Paterson, Managing DirectorE:[email protected] PO Box 677, West Perth 6872, Western AustraliaABN 70 611 695 955
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ASX Announcement29 JULY 2021
Side Well Gold Project
Side Well is a 75% joint venture with private company Zebina Minerals Pty Ltd. Side Well consists of a single tenement, E51/1905, which contains approximately 132km2of the highly prospective Meekatharra–Wydgee greenstone belt over 25km of strike.
FIGURE3:SIDE WELL LOCATION
Drilling
29 RC holes were drilled in the central area of Mulga Bill during April, testing priority targets generated by AC drilling. This program met immediate success with the stand-out intersection of6m @ 31.25g/t Au from 130min the second RC hole, 21MBRC002.
4
Side Well
The Side Well project is centrally located in an area that has produced almost 4 million ounces of gold, with over 2.7 million ounces remaining in resources. Despite this, large areas of the project remain unexplored.
ASX Code:GBRContact:Andrew Paterson, Managing DirectorE:[email protected]P:+61 8 9321 6037 PO Box 677, West Perth 6872, Western AustraliaABN 70 611 695 955
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ASX Announcement29 JULY 2021
Other significant results include:
14m @ 2.62g/t Au from 88m, including4m @ 5.86g/t Aufrom 88m in 21MBRC003
68m @ 2.05g/t Au from 80m, including16m @ 5.52g/t Aufrom 84m and8m @ 4.06g/t
Aufrom 132m in 21MBRC010
8m @ 4.67g/t Au from 124m, including4m @ 8.52g/t Aufrom 124m, in 21MBRC013
16m @ 3.99g/t Au from 68m, including4m @ 7.51g/t Aufrom 68m, in 21MBRC016
4m @ 7.33g/t Aufrom 111m and4m @ 26.42g/t Aufrom 151m in 21MBRC017
8m @ 3.31g/t Au from 124m in 21MBRC026
16m @ 1.00g/t Au from 68m, including 1m @ 10.99g/t Au from 82m, in 21MBRC028.
The results in holes 21MBRC026 and 21MBRC028 are also significant in that they were drilled into new target areas approximately 400m northeast and 1100m north, respectively.
5
FIGURE4:RECENT RC RESULTS AT MULGA BILL
ASX Code:GBRContact:Andrew Paterson, Managing DirectorE:[email protected]P:+61 8 9321 6037 PO Box 677, West Perth 6872, Western AustraliaABN 70 611 695 955
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ASX Announcement29 JULY 2021
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The intersections detailed above and announced to the market during May and June 2021 are a mixture of 1m samples and 4m composites. The 4m composite samples have since been re-split and submitted for assay.
FIGURE5:CROSS SECTION7060900NSHOWING HIGH-GRADE INTERSECTIONS ON THE WESTERN LODE.
Multi-element Geochemical Analysis
Great Boulder’s standard drilling procedure includes submitting a sample from the bottom of eachhole, as well as sampling every 30m down the hole, for multi-element analysis. This procedure provides assay data for 48 elements, allowing detailed analysis of lithogeochemistry as well as alteration patterns and mineral system pathfinders. The Company has amassed over 450 multi- element assays across Mulga Bill.
The data was assessed by Dr Scott Halley in June. Dr Halley identified a large-scale, high-tenor pathfinder association indicative of an intrusive-related gold system, with elevated levels of bismuth, copper and molybdenum coincident with gold values in Great Boulder’s AC and RC drilling. Thebismuth association is particularly compelling, highlighting an extremely high-tenor, broad runway approximately 120m wide and more than 1,200m long over the western lode position, limited only by a lack of multi-element data at either end.
ASX Code:GBRContact:Andrew Paterson, Managing DirectorE:[email protected]P:+61 8 9321 6037 PO Box 677, West Perth 6872, Western AustraliaABN 70 611 695 955
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ASX Announcement29 JULY 2021
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FIGURE6: (CLOCKWISE FROM LOWER LEFT)PATHFINDER CONTOURS OFMO, BI, CU ANDAG COMPARED TO GOLD INTERSECTIONS IN FRESH ROCK.
ASX Code:GBRContact:Andrew Paterson, Managing DirectorE:[email protected]P:+61 8 9321 6037 PO Box 677, West Perth 6872, Western AustraliaABN 70 611 695 955
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ASX Announcement29 JULY 2021
To put these numbers into context there are two key aspects that are relevant:
any bismuth values above 1ppm Bi in the Yilgarn are regarded as significantly anomalous.
gold deposits in the Yilgarn with a bismuth association often show anomalous values that extend a few centimetres to a few metres from the gold lodes, making the bismuth a very
localised halo around the gold.
At Mulga Bill the bismuth halo peaks at over 121ppm, and the 1ppm bismuth contour is 120m wide. This data indicates a large, high-energy intrusive-related gold system (IRGS) which has pumped large volumes of mineralising fluids through Mulga Bill, leaving a massive Au-Bi-Cu-Mo footprint with the high-grade gold lodes at its core.
This development is an important breakthrough in the Company’s understanding of Side Well, as itunderpins the potential for Mulga Bill to host a significantly large gold endowment.
The IRGS interpretation indicates potential for significant large-scale continuity well beyond the current limits of drilling. The bismuth association is also a strategic benefit for ongoing exploration, as it means bottom-of-hole AC samples in the weathered zone can be used to test gold prospectivity at 100m or even 200m hole spacing. Any area with elevated bismuth will form an immediate target for follow-up exploration. Gold is greatly dispersed in the weathered zone at Side Well.
FIGURE7:BISMUTH ASSAYS AT MULGA BILL SHOWS AREAS THAT REMAIN UNTESTED DUE TO LACK OF DATA AS WELL AS POTENTIAL FOR STRIKE EXTENSIONS HIGHLIGHTED BYBI
8
ANOMALIES.
ASX Code:GBRContact:Andrew Paterson, Managing DirectorE:[email protected]P:+61 8 9321 6037 PO Box 677, West Perth 6872, Western AustraliaABN 70 611 695 955
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ASX Announcement29 JULY 2021
Regional AC Drilling
During May the Company completed a 53-hole AC program testing Mulga Bill as well as four other potential targets regionally, including six holes at Matilda. Unfortunately, the rig used for this program struggled with drilling conditions at Side Well and the targets remain inadequately tested. FurtherAC drilling will be planned once all the assays from May’s program are received.
Soil Sampling–Jones Well
During April a large soil sampling program was completed over the north-western area of the Side Well project where there has been little or no previous exploration activity. This area is regarded as prospective for gold mineralisation due to the significant amount of structural complexity shown in the regional magnetic image. The Meekatharra-Wydgee greenstone belt pinches through this area heading north to Andy Well, with a number of cross-cutting faults and small intrusions disrupting the greenstone sequence.
Soils in this area tend to be leached, meaning gold anomalies are much more subtle compared to the higher-tenor anomalies around Whiteheads. Arsenic and silver are useful pathfinder elements, as is copper with its strong association at Mulga Bill.
The program comprised 948 samples on a 400m by 50m grid. As expected, gold values were very low with 2ppb Au and above being anomalous. Silver assays were similarly low. However, some coincident gold-silver anomalies appear to be associated with lithological contacts and warrant further sampling.
Arsenic and copper reported larger anomalies, particularly a coincident As-Cu anomaly at the south- western end of the sampling grid encompassing an area of more than 1km2. Additional sampling will be completed to infill this anomaly and extend coverage as far as residual soils extend to the south.
Next Steps
Drilling activity at Side Well continued into July with another round of RC drilling at Mulga Bill, followed immediately by AC drilling intended to infill areas to the north of the two high-grade lodes.
As announced to ASX on 20 July 2021 a diamond drill rig has commenced a program to drill five deeper holes in the central Mulga Bill area, obtaining drill core for structural and lithological analysis.
An RC rig has been confirmed for the whole of August, with Mulga Bill as the priority target and the possibility of drilling other targets at Whiteheads as well. During September the Company anticipates completing another air-core program testing regional targets. Depending on progress with the soil anomalies some of these may be tested during the same program.
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FIGURE8: SOIL SAMPLING RESULTS OVER400M-SPACED LINES AT JONES WELL. CLOCKWISE FROM TOP LEFT: AU, AG, AS ANDCU. INITIAL INTERPRETATION ONLY–
ANOMALY SHAPES MAY CHANGE AFTER INFILL SAMPLING IS COMPLETED.
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ASX Announcement29 JULY 2021
Whiteheads Project
Whiteheads is located approximately 45km north of Kalgoorlie and north of the nearby Kanowna Belle gold mine. The project covers an area of 488km2between the Silver Swan and Carr Boyd nickel projects straddling the boundary between the Kalgoorlie terrane to the west and the Kurnalpi terrane to the east.
FIGURE9: WHITEHEADS LOCATION PLAN
AC Drilling
During April and May the Company completed a 100-hole AC program testing three targets along the Arsenal Trend, a target at Jubilee North and also a soil anomaly at Hillsborough (Figure 11).
At Gunners, 27 holes were drilled on two lines across the auger anomaly “bullseye” in the northernsection of the prospect. Two holes intersected anomalous gold values with a best result of 3m @
11
Whiteheads
At Whiteheads GBR has accumulated a large project footprint over highly prospective geology with a historical focus on gold and nickel exploration.
Whiteheads straddles the geological boundary between the Kalgoorlie and Kurnalpi terranes. With a large number of old mine workings, and large, coherent gold-in-soil anomalies Whiteheads has massive potential for significant discoveries.
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0.29g/t Au from 44m to the end of hole (i.e. top of fresh rock) in 21WHAC025. Gunners requires more drilling to the south to fully test its potential (Figure 12).
At a new prospect called Tektite, approximately 1.5km south of Blue Poles, 17 holes were drilled on four fences across a 50ppb Au auger anomaly. Results were encouraging, with a best intersection of 4m @ 1.50g/t Au from 56m in 21WHAC006, near the bottom of the hole. This result compares well to the early AC results at Blue Poles.
Another 2km south of Tektite a single fence of AC holes was drilled in an east-west line across theArsenal Trend. These results were also encouraging, particularly as they are effectively “wild cat”holes with no supporting data other than the Arsenal Trend itself. Results include 4m @ 0.49g/t Au from 52m in 21WHAC045, and 1m @ 0.82g/t Au from 40m to EOH in 21WHAC048. These results require follow-up drilling, and they also support the Company’sinterpretation the whole Arsenal Trend is a prospective target.
Jubilee North is a conceptual target based upon a historic geological map of the area which shows a semi-circular feature visible in magnetic data and interpreted to be a porphyry intrusion. On the south-western edge of this feature auger sampling has revealed a broad 10ppb Au anomaly approximately 1.7km long and 450m wide. The lithological contact and position of this target is interesting, being structurally similar to the location of the Mt Marion gold mine south of Kalgoorlie (Figure 10).
18 AC holes were drilled on two fences 600m apart over the auger anomaly. Two holes intersected anomalous grades, with a best result of 4m @ 2.11g/t Au from 52m in 21WHAC089. This result is very encouraging for first-pass exploration on such a large target area.
Lastly 25 AC holes were drilled on a geochemical target south of Hillsborough. Results were somewhat disappointing, with one shallow intersection of 4m @ 0.23g/t Au from 12m in 21WHAC089. Hillsborough is a large and prospective area and will require further work.
RC Drilling
In June 22 RC holes were drilled at Blue Poles for a total of 2,985m. The drilling was designed to infill Blue Poles along the western side of the main lode, as well as testing potential extensions to the north.
Given the current lag in assay processing times, results from this drilling are expected in early August.
Auger Geochemistry
An auger sampling contractor is currently completing first-pass auger sampling over the Wishbone area in the western part of the Whiteheads Project. Wishbone is notable for the fact it has only
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previously been explored for komatiite-hosted nickel, despite the fact the lithologies and structural setting of the area is also prospective for gold mineralisation.
Next Steps
Regional auger sampling programs are continuing at Whiteheads on a campaign basis, testing anumber of areas highlighted by GBR’s early work.
AC and RC drilling at Whiteheads will continue in conjunction with programs at Side Well. Targets along the Arsenal Trend will remain the priority for RC drilling, while small, targeted AC programs will be used to test anomalies generated by the auger program.
The Company is considering a regional airborne electromagnetic (EM) survey, however this has not yet been confirmed nor scheduled.
FIGURE10:ENCOURAGING INITIAL AC RESULTS FROM JUBILEE NORTH
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FIGURE11:REGIONAL AC DRILLING RESULTS. NOTE THE LARGE GAP IN DATA OVER THE SOUTHERN HALF OF THE ARSENAL TREND.
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FIGURE12: ACDRILLING RESULTS ON THE NORTHERN ARSENAL TREND
Significant intersections and collar details are listed in Tables 2 and 3 at the end of this report. JORC Table 1 information is included as an Appendix.
ASX Code:GBRContact:Andrew Paterson, Managing DirectorE:[email protected]P:+61 8 9321 6037 PO Box 677, West Perth 6872, Western AustraliaABN 70 611 695 955
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ASX Announcement29 JULY 2021
Wellington Zn-Pb Project
In April the Company secured a large project area in the Earaheedy Basin, an area which has potential to become a world-class Mississippi Valley-type (MVT) Zn-Pb province. This potential hasbeen demonstrated by Rumble Resources’ recent exploration success at their Chinook andMagazine discoveries.
The new tenements overlie the prospective Frere Formation within the Proterozoic Earaheedy Basin, with targets generated by GBR in May last year from analysis of publicly available GSWA geochemical data sets. The Wellington Project covers an area of 1,134km2of prospective stratigraphy including more than 60km of strike highlighted by pathfinder geochemistry. This scale is a similar scale target to the early-stage exploration data that led to Rumble’s major discovery.
FIGURE13:THE WELLINGTON PROJECT IS LOCATED170KM EAST OF WILUNA IN WESTERN AUSTRALIA
Once granted, the Company intends to commence low-impact regional exploration such as soil sampling, mapping and reconnaissance to confirm target areas. Geophysical surveys such as gravity and airborne magnetics are also expected to play a key role in identifying structures likely to influence mineralisation within carbonate horizons within or at the base of the Frere Formation.
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FIGURE14: THEWELLINGTONPROJECT WAS IDENTIFIED FROM ANALYSIS OF GEOLOGICALSURVEY OFWASURFACE SAMPLING DATA. BACKGROUND IMAGE IS WEIGHTED SUM AS-SB-
BI-W.
FIGURE15: REGIONAL GRAVITY DATA SHOWS A GRAVITY RIDGE EXTENDING NORTH BENEATH THE BASIN FROM THE ARCHAEAN YILGARN PROVINCE. DEEP STRUCTURES ARE LIKELY TO BE IMPORTANT IN LOCALISING MINERALISATION WITHIN THE CARBONATE HOST
UNIT.
ASX Code:GBRContact:Andrew Paterson, Managing DirectorE:[email protected]P:+61 8 9321 6037 PO Box 677, West Perth 6872, Western AustraliaABN 70 611 695 955
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ASX Announcement29 JULY 2021
Yamarna Cu-Ni Project
During June an exploration licence immediately north of Mt Venn was relinquished by a neighbouring explorer and immediately pegged by Great Boulder. This 60km2block, incorporating the Mt Venn topographic featurewhich gives the area its name, consolidates the Company’s holding over themost prospective areas of the Mt Venn igneous complex.
FIGURE16:THE NEW TENEMENT APPLICATIONE38/3640INCLUDES THE NORTHERN CONTINUATION OF THE MT VENN IGNEOUS COMPLEX
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Winchester Project
There was no work conducted on the Winchester project during the quarter. Downhole EM surveys on holes drilled in 2020 were scheduled for March, however these have not yet been completed.
TABLE2: SIGNIFICANT INTERSECTIONS,WHITEHEADS REGIONAL AC DRILLING
19
Hole ID
From (m)
To (m)
Width (m)
Grade g/t Au
Prospect
21WHAC003 21WHAC004 21WHAC005 21WHAC006 21WHAC010 21WHAC013 21WHAC019 21WHAC019 21WHAC025 21WHAC040 21WHAC045 21WHAC048 21WHAC048 21WHAC074 21WHAC089 21WHAC099
Tektite Tektite Tektite Tektite Tektite Tektite Tektite Tektite Tektite Tektite Tektite Tektite Tektite Tektite Tektite Tektite Tektite Gunners
ASX Code:GBRP:+61 8 9321 6037
64 68 4 60 64 4 52 55 3 56 60 4 60 62 2 52 53 1
0 4 4
8 12 4 44 47 3 56 60 4 52 56 4 36 40 4 40 41 1 12 16 4 52 56 4 68 72 4
0.217 Tektite 0.264 Tektite 0.226 Tektite 1.504 Tektite 0.314 Tektite 0.517 Tektite 0.232 Gunners 0.247 Gunners 0.291 Gunners 0.254 Gunners 0.487 Sth Arsenal 0.327 Sth Arsenal 0.816 Sth Arsenal 0.234 Hillsborough 2.112 Jubilee Nth
0.21 Jubilee Nth
TABLE3: COLLAR DETAILS,WHITEHEADS REGIONAL AC PROGRAM
Prospect
Hole ID
Easting
Northing
RL
Depth
Dip
Azi (Mag)
21WHAC001 21WHAC002 21WHAC003 21WHAC004 21WHAC005 21WHAC006 21WHAC007 21WHAC008 21WHAC009 21WHAC010 21WHAC011 21WHAC012 21WHAC013 21WHAC014 21WHAC015 21WHAC016 21WHAC017 21WHAC018
380239 6659400 386 380290 6659404 386 380340 6659406 385 380389 6659404 384 380188 6659601 381 380241 6659603 385 380288 6659602 385 380337 6659602 384 380188 6659802 388 380233 6659803 388 380285 6659800 389 380083 6660297 389 380137 6660300 387 380188 6660296 388 380034 6660503 391 380089 6660498 390 380140 6660500 388 379940 6663702 391
46 -60 270 53 -60 270 68 -60 270 64 -60 270 55 -60 270 61 -60 270 67 -60 270 41 -60 270 66 -60 270 62 -60 270 45 -60 270 44 -60 270 53 -60 270 24 -60 270 18 -60 270 42 -60 270 24 -60 270 11 -60 270
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Gunners Gunners Gunners Gunners Gunners Gunners Gunners Gunners Gunners Gunners Gunners Gunners Gunners Gunners Gunners Gunners Gunners Gunners Gunners Gunners Gunners Gunners Gunners Gunners Gunners Gunners Arsenal Arsenal Arsenal Arsenal Arsenal Arsenal Arsenal Arsenal Arsenal Arsenal Arsenal Arsenal Arsenal Hillsborough Hillsborough Hillsborough Hillsborough Hillsborough Hillsborough
ASX Code:GBRP:+61 8 9321 6037
21WHAC019 21WHAC020 21WHAC021 21WHAC022 21WHAC023 21WHAC024 21WHAC025 21WHAC026 21WHAC027 21WHAC028 21WHAC029 21WHAC030 21WHAC031 21WHAC032 21WHAC033 21WHAC034 21WHAC035 21WHAC036 21WHAC037 21WHAC038 21WHAC039 21WHAC040 21WHAC041 21WHAC042 21WHAC043 21WHAC044 21WHAC045 21WHAC046 21WHAC047 21WHAC048 21WHAC049 21WHAC050 21WHAC051 21WHAC052 21WHAC053 21WHAC054 21WHAC055 21WHAC056 21WHAC057 21WHAC058 21WHAC059 21WHAC060 21WHAC061 21WHAC062 21WHAC063
379992 6663701 391 380040 6663700 390 380089 6663699 389 380139 6663699 389 380190 6663699 387 380243 6663701 386 380286 6663701 387 380340 6663702 387 380389 6663702 385 380440 6663702 386 380143 6663801 388 380192 6663800 386 380241 6663799 386 380290 6663802 385 380340 6663801 387 379944 6663899 390 379987 6663899 388 380041 6663900 388 380092 6663898 388 380141 6663899 387 380192 6663901 388 380239 6663900 386 380293 6663901 386 380344 6663901 384 380391 6663902 386 380436 6663900 382 380235 6657475 382 379737 6657475 384 379836 6657478 384 379935 6657476 383 380034 6657475 383 380135 6657475 382 380339 6657474 381 380434 6657473 381 380540 6657474 379 380634 6657472 381 380733 6657474 380 380836 6657472 377 380936 6657473 378 372448 6655561 411 372401 6655561 410 372351 6655560 410 372300 6655563 410 372252 6655561 411 372202 6655560 411
21 -60 270 24 -60 270 28 -60 270 21 -60 270 23 -60 270 54 -60 270 47 -60 270 51 -60 270 59 -60 270
57 -60 270
58 -60 270
44 -60 270 58 -60 270 39 -60 270 42 -60 270 45 -60 270 60 -60 270 70 -60 270 75 -60 270 60 -60 270 63 -60 270 61 -60 270 72 -60 270 67 -60 270 60 -60 270 46 -60 270 69 -60 270
66 -60 270
67 -60 270
41 -60 270 30 -60 270 72 -60 270 60 -60 270 42 -60 270 33 -60 270 79 -60 270 25 -60 270 33 -60 270 36 -60 270 12 -60 90
9 -60 90
4 -60 90 26 -60 90 19 -60 90 13 -60 90
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Hillsborough Hillsborough Hillsborough Hillsborough Hillsborough Hillsborough Hillsborough Hillsborough Hillsborough Hillsborough Hillsborough Hillsborough Hillsborough Hillsborough Hillsborough Hillsborough Hillsborough Hillsborough Hillsborough Jubilee Nth Jubilee Nth Jubilee Nth Jubilee Nth Jubilee Nth Jubilee Nth Jubilee Nth Jubilee Nth Jubilee Nth Jubilee Nth Jubilee Nth Jubilee Nth Jubilee Nth Jubilee Nth Jubilee Nth Jubilee Nth Jubilee Nth Jubilee Nth
21WHAC064 21WHAC065 21WHAC066 21WHAC067 21WHAC068 21WHAC069 21WHAC070 21WHAC071 21WHAC072 21WHAC073 21WHAC074 21WHAC075 21WHAC076 21WHAC077 21WHAC078 21WHAC079 21WHAC080 21WHAC081 21WHAC082 21WHAC083 21WHAC084 21WHAC085 21WHAC086 21WHAC087 21WHAC088 21WHAC089 21WHAC090 21WHAC091 21WHAC092 21WHAC093 21WHAC094 21WHAC095 21WHAC096 21WHAC097 21WHAC098 21WHAC099 21WHAC100
3721523721023720513720023719523719053718483723513722993722513721983721513721013720513720003719543719013718493718013771233772213773263774193775243776233777283778243779263780243773763774753775743776763777753778743779733780716655558 412 6655561 414 6655560 413 6655562 413 6655562 417 6655563 416 6655560 417 6655692 413 6655694 413 6655691 413 6655686 415 6655691 412 6655692 414 6655691 414 6655692 413 6655692 413 6655693 415 6655692 418 6655690 416 6651248 409 6651251 408 6651253 408 6651250 409 6651252 404 6651251 404 6651253 406 6651254 403 6651254 402 6651254 400 6651905 409 6651906 404 6651909 403 6651906 402 6651903 404 6651901 408 6651906 407 6651902 409
12 -60 90 11 -60 90 30 -60 90 20 -60 90
7 -60 90
5 -60 90 27 -60 90 19 -60 90 29 -60 90 38 -60 90 35 -60 90 25 -60 90 20 -60 90 30 -60 90 35 -60 90 26 -60 90 23 -60 90 33 -60 90 26 -60 90 33 -60 270 32 -60 270 70 -60 270 36 -60 270 38 -60 270 54 -60 270 87 -60 270 29 -60 270 48 -60 270 36 -60 270 45 -60 270 45 -60 270 39 -60 270 67 -60 270 60 -60 270 74 -60 270 87 -60 270 51 -60 270
ASX Code:GBRP:+61 8 9321 6037
Contact:Andrew Paterson, Managing Director PO Box 677, West Perth 6872, Western Australia
E:[email protected]ABN 70 611 695 955
GREATBOULDER.COM.AU
ASX Announcement29 JULY 2021
Corporate
During the quarter, the Company placed 69,216,443 shares to professional and sophisticated investors at $0.08 per share to raise approximately $5.5 million before costs. The Company also received $31,397 from optionholders to exercise 598,030 unlisted options with an exercise price of $0.0525 per option. Additionally the Company issued 5,714,286 fully paid ordinary shares and 5,714,286 unlisted options with an exercise price of $0.0542 expiring 19 May 2024 as consideration for 75% interest in the Whiteheads Gold Project. The Company also issued 5,537,314 unlisted options with an exercise price of $0.0525 expiring on 31 March 2024 as consideration for lead managers of the March placement.
During the quarter, the Company made payments of approximately $90,000 to related party entitiesfor directors’ fees and superannuation (refer to section 6 of the Appendix 5B), of which approximately$66,000 was allocated to time spent on project management.
During the quarter, the Company paid $1,464,000 for exploration expenditure which included drilling and associated costs with drilling activities, assay work and various exploration consulting fees.
22
At the end of the quarter Great Boulder had $6.8 million in cash.
Ordinary fully paid shares
Unlisted Options(exercisable at $0.20 & expiring 18/3/2022)Unlisted Options(exercisable at $0.10 and expiring 30/6/2022)Unlisted Options(exercisable at $0.04 and expiring 30/6/2022)Unlisted Options(exercisable at $0.075 and expiring 28/8/2023)Unlisted Options(exercisable at $0.10 and expiring 30/09/2023)Unlisted Options(exercisable at $0.074 and expiring 30/06/2023)Unlisted Options(exercisable at $0.0525 and expiring 31/03/2024)Unlisted Options(exercisable at $0.0542 and expiring 19/05/2024)Unlisted Options(exercisable at $0.12 and expiring 31/05/2024)Unlisted Options(exercisable at $0.1108 and expiring 16/07/2024)
355,271,040
250,000 4,000,000 2,000,000 1,000,000 1,000,000 4,000,000 4,939,284 5,714,286 4,000,000 2,194,403
Class of Securities
Issued Capital
ASX Code:GBRContact:Andrew Paterson, Managing DirectorE:[email protected]P:+61 8 9321 6037 PO Box 677, West Perth 6872, Western AustraliaABN 70 611 695 955
GREATBOULDER.COM.AU
ASX Announcement29 JULY 2021
This announcement has been approved by the Board
23
Media
For further information, please contact: Lucas Robinson
Corporate Storytime +61 408 228 889For further information contact:
Andrew Paterson
Managing Director
Great Boulder Resources Limited [email protected]www.greatboulder.com.au
Follow GBR on LinkedIn
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ASX Code:GBRContact:Andrew Paterson, Managing DirectorP:+61 8 9321 6037 PO Box 677, West Perth 6872, Western Australia
E:[email protected]ABN 70 611 695 955
GREATBOULDER.COM.AU
ASX Announcement29 JULY 2021
Appendix 1 - JORC Code, 2012 Edition Table 1
Section 1 Sampling Techniques and Data: Whiteheads Air-core Drilling
24
(Criteria in this section apply to all succeeding sections.)
Criteria
Commentary
Sampling techniques
Air Core samples were collected over 1m intervals using a cyclone splitter with sample piles placed in rows on cleared ground next to the drill collar. The entire hole was composited over 4m intervals or less with scoop samples of each 1m pile combined in a calico sample bag.
The sampling techniques used are deemed appropriate for the style of exploration.
Drilling techniques
Drilling was undertaken by Prospect Drilling using a KL150 aircore rig. Industry standard air core methods and equipment were utilised.
Drill sample recovery
Sample condition has been logged for every composited interval as part of the sampling process. Sample recovery was not recorded for this drill program
No quantitative twinned drilling analysis has been undertaken.
Logging
Geological logging of drilling followed established company procedures. Qualitative logging of samples includes lithology, mineralogy, alteration, veining and weathering. Abundant geological comments supplement logged intervals.
Sub-sampling techniques and sample preparation
1m cyclone splits and 4m composite samples were taken in the field. Samples were prepared at Intertek in Kalgoorlie and analysed at Intertek in Perth. Samples were pulverized so that each sample had a nominal 85% passing 75 microns. A 50g allotment was then analysed by fire assay using Intertek method FA50/OE04.
Quality of assay data and laboratory tests
All samples were assayed by industry standard techniques.
Verification of sampling and assaying
A fine-grained blank and certified reference material were inserted every 50 samples. No duplicates were taken in this program. No QAQC problems were identified in the results. No twinned drilling has been undertaken.
Data spacing and distribution
Drill spacing is varied for the entire AC drill program. The results reported above were obtained from drill holes spaced 50m apart on east-west lines.
The spacing and location of data is currently only being considered for exploration purposes.
Orientation of data in relation to geological structure
Drilling is dominantly perpendicular to regional geological and geochemical trends where interpreted and practical.
The spacing and location of the data is currently only being considered for exploration purposes.
ASX Code:GBRContact:Andrew Paterson, Managing DirectorP:+61 8 9321 6037 PO Box 677, West Perth 6872, Western Australia
E:[email protected]ABN 70 611 695 955
GREATBOULDER.COM.AU
ASX Announcement29 JULY 2021
Sample security
Audits or reviews
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
25
GBR personnel were responsible for delivery of samples from the drill site to the assay laboratory.
None completed.
Criteria
Commentary
Mineral tenement and land tenure status
The project is located between 45 and 70km north-northwest of Kalgoorlie on the Yarri Road. The
tenement package is comprised of two active Exploration License and one EL application. The granted tenement E27/544 covers an area of approximately 185km2including up to 15km of strike on a number of potential mineralized trends. Tenements E24/588 and ELA27/622 cover an additional 22 and 10 graticular blocks respectively. Once granted, these tenements will add approximately 49km2to the project area.
Exploration done by other parties
The Whiteheads project area has been the focus of exploration efforts dating back to the 1960’s. Thebulk of the earlier exploration efforts were focussed on the nickel potential of the region following discoveries at the Black Swan, Silver Swan and Carr Boyd deposits. Various exploration campaigns by multiple companies utilising differing methods have been undertaken for nickel, VMS and gold targets. The differing exploration and analysis techniques has resulted in a patchwork of exploration datasets that are not easily comparable.
Small-scale historical gold workings are present within the tenure that have a protracted history of mining. Publicly available data for these deposits indicate selective mining of high-grade gold veins.
Geology
The Whiteheads Project lies proximal to the interpreted boundary between the Archean Kalgoorlie and Kurnalpi Terranes of the Eastern Goldfields Superterrane. This boundary also marks the separation of the Boorora (Kalgoorlie Terrane) and Gindalbie (Kurnalpi Terrane) Domains based on volcanic facies relationships. This boundary is marked by a zone of faulting and shearing historically called by various names including the Mt Monger (Swager and Griffin 1994) and Ockerburry Fault (Blewitt and Hitchman 2006). The Boorora Domain is dominated by mafic and ultramafic lithofacies with minor sediments and felsic volcanics. The Gindalbie Domain contains a significant package of bimodal volcanics, sedimentary units and lesser ultramafic lithologies. 3 separate greenstone succession have been recognized within the Gindalbie Domain, with the uppermost bi-modal formation the only one present within the project area. The above successions have experienced at least 4 phases of deformation and display mid-greenschist facies metamorphism.
The project area contains a significant amount of transported cover consisting of colluvium, sand plains and laterite. Tertiary aged paleochannels transect the project area. Tertiary duricrust comprises insitu lateritic duricrust to colluvium products derived from insitu material.
Several historic workings are located within the project area including the historic Whitehead Find, Patches, Seven Leaders, Lady Betty and Jewellery Box gold workings along with widespread shallow workings. Gold mineralisation is related to extensive shearing and quartz veining along lithological contacts. The Whiteheads Project is located directly along strike to the north of KalNorth Gold MinesLimited’s LindsayGold project. No definitive nickel mineralisation has been identified to date within the project area however the Black Swan, Silver Swan and Carr-Boyd Nickel deposits are all located within the region and the project remains prospective for further nickel discoveries.
Drill hole InformationA list of the drill hole coordinates, orientations and metrics are provided as an appended table.Data aggregationNo grade truncations were applied to these exploration results.
methods
ASX Code:GBRContact:Andrew Paterson, Managing DirectorE:[email protected]P:+61 8 9321 6037 PO Box 677, West Perth 6872, Western AustraliaABN 70 611 695 955
GREATBOULDER.COM.AU
ASX Announcement29 JULY 2021
26
A weighted average calculation was used to allow for bottom of hole composites that were less than the standard 4m.
No metal equivalents are used.
Relationship between mineralisation widths and intercept lengths
The orientation of structures and mineralisation is not known with certainty, but majority of the drilling was conducted using appropriate perpendicular orientations for known geology and geochemical anomalism.
A list of the drill holes and orientations is provided as an appended table.
Diagrams Balanced reporting
Further work
Refer to figures in announcement.
It is not practical to report all historical exploration results from the Whiteheads project. Full drillhole details can be found in publicly available historical annual reports.
Further work is discussed in the document in relation to the exploration results.
Other substantive exploration data
Exploration undertaken on the Whiteheads Project between 2015-2019 was by private company Zebina Minerals Pty Ltd and Kalgoorlie based prospectors. Previous work over the Arsenal trend is limited to one line of AC drilling
ASX Code:GBRP:+61 8 9321 6037
Contact:Andrew Paterson, Managing DirectorE:[email protected] PO Box 677, West Perth 6872, Western AustraliaABN 70 611 695 955
GREATBOULDER.COM.AU
ASX Announcement29 JULY 2021
Appendix 2 - JORC Code, 2012 Edition Table 1
Section 1 Sampling Techniques and Data: Side Well soil samples
(Criteria in this section apply to all succeeding sections.)
27
Criteria
Commentary
Sampling techniques
Samples were taken manually using a shovel to clear off vegetation and dig a hole 20 to 30cm deep before sieving the sample to -2mm. Approximately 500g of sieved material was collected at each site.
The sampling techniques used are deemed appropriate for the style of exploration.
Drilling techniques Drill sample recovery Logging
Quality of assay data and laboratory tests
Verification of sampling and assaying
Data spacing and distribution
N/A N/A
Basic qualitative logging comments were recorded relating to soil profiles, colour, any outcrop in the area or other relevant observations.
All samples were assayed by industry standard techniques.
The standard GBR protocol was followed for insertion of standards and blanks with a blank and standard inserted per 40 samples. No QAQC problems were identified in the results.
Sub-sampling techniques and sample preparation
Samples were prepared and analysed at Intertek Perth. Samples were pulverized so that each samples had a nominal 85% passing 75 microns. Sample digest was undertaken using a 4-acid digest before analysing for a 48-element suite using low-level detection.
Orientation of data in relation to geological structure
The spacing and location of the data is currently only being considered for exploration purposes.
Sample security
GBR personnel were responsible for delivery of samples from the drill site to the courier companies dispatch center in Meekatharra. Samples were transported by Toll Intermodal from Meekatharra to the laboratory in Perth.
Audits or reviews
Data spacing is sufficient for early-stage reconnaissance.
None completed.
ASX Code:GBRP:+61 8 9321 6037
Contact:Andrew Paterson, Managing DirectorE:[email protected] PO Box 677, West Perth 6872, Western AustraliaABN 70 611 695 955
GREATBOULDER.COM.AU
ASX Announcement29 JULY 2021
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
28
Criteria
Commentary
Mineral tenement and land tenure status
Side Well tenement E51/1905 is a 48-block exploration license covering an area of 131.8km2 immediately east and northeast of Meekatharra in the Murchison province. Zebina Minerals Pty Ltd currently owns 100% of the tenement with GBR acquiring a 24thMonth option to form a joint- venture.
Exploration done by other parties
Tenement E51/1905 has a protracted exploration history but is relatively unexplored compared to other regions surrounding Meekatharra. The Exploration history by previous explorers has been described in the technical section of the announcement.
Geology
The Side Well tenement group covers a portion of the Meekatharra-Wydgee Greenstone Belt north of Meekatharra, WA. The north-north-easterly trending Archaean Meekatharra-Wydgee Greenstone Belt, comprises a succession of metamorphosed mafic to ultramafic and felsic and sedimentary rocks belonging to the Luke Creek and Mount Farmer Groups.
Over the northern extensions of the belt, sediments belonging to the Proterozoic Yerrida Basin unconformably overlie Archaean granite-greenstone terrain. Structurally, the belt takes the form of a syncline known as the Polelle syncline. Younger Archaean granitoids have intrusive contacts with the greenstone succession and have intersected several zones particularly in the Side Well area.
Within the Side Well tenement group, a largely concealed portion of the north-north-easterly trending Greenstone Belt is defined, on the basis of drilling and airborne magnetic data, to underlie the area. The greenstone succession is interpreted to be tightly folded into a south plunging syncline and is cut by easterly trending Proterozoic dolerite dykes.
There is little to no rock exposure at the Side Well prospect. This area is covered by alluvium and lacustrine clays, commonly up to 60 metres thick.
Drill hole Information
Data aggregation methods
Diagrams
Other substantive exploration data
A list of the drill hole coordinates, orientations and intersections reported in this announcement are provided as an appended table.
Data has not been aggregated. No metal equivalents are used.
Refer to figures in announcement.
Subsequent to Doray Minerals Limited exiting the project in 2015, private companies have held the ground with no significant work being undertaken.
Relationship between mineralisation widths and intercept lengths
The orientation of structures and mineralisation is not known with certainty, but majority of the drilling drilling was conducted using appropriate perpendicular orientations for interpreted mineralisation. Diamond drilling has confirmed a mineralised intrusive body at Side Well has a near vertical dip and trends broadly north-south. Due to the wide spacing of drill lines exact orientation is not clear.
Balanced reporting
It is not practical to report all historical exploration results from the Side Well project. Selected historical intercepts have been re-reported by GBR to highlight the prospectivity of the region. Full drillhole details can be found in publicly available historical annual reports.
Further work
ASX Code:GBRP:+61 8 9321 6037
Further work is discussed in the document.
Contact:Andrew Paterson, Managing DirectorE:[email protected] PO Box 677, West Perth 6872, Western AustraliaABN 70 611 695 955
GREATBOULDER.COM.AU
