Great Boulder Resources Delivers Exceptional Assays at Mulga Bill
GBR (GBR) Share Update September 2024 Tuesday 24th
Great Boulder Resources Announces Exceptional Gold Assays at Mulga Bill
Great Boulder Resources (ASX: GBR) has announced outstanding results from its recent drilling program at the Mulga Bill site, part of the Side Well Gold Project near Meekatharra, Western Australia.
Instant Summary:
- High-grade gold intersections up to 194.50g/t Au.
- Significant drilling results include 5m @ 43.13g/t Au and 5m @ 40.61g/t Au.
- Maiden AC drilling to begin at Side Well South Prospect.
- Resource update expected by the end of the year.
Exceptional Assay Results
Great Boulder Resources has revealed exceptional assay results from its recent reverse circulation (RC) drilling at the Mulga Bill site. The drilling program, aimed at infill and extensional exploration, has intersected multiple high-grade gold lodes, significantly enhancing the resource's thickness and grade.
Highlights from the drilling include:
- 5m @ 43.13g/t Au from 185m, including 2m @ 102.80g/t Au from 186m in hole 24MBRC028.
- 5m @ 40.61g/t Au from 256m, including 1m @ 194.50g/t Au from 258m in hole 24MBRC030.
- 6m @ 20.52g/t Au from 179m, including 2m @ 57.10g/t Au from 179m in hole 24MBRC027.
- 5m @ 16.93g/t Au from 91m, including 2m @ 39.70g/t Au from 92m in hole 24MBRC023.
Strategic Importance
The drilling program consisted of nine RC holes totaling 1,587 meters, designed to enhance poorly defined areas around the high-grade vein positions at Mulga Bill. These new intersections are expected to upgrade parts of the resource from inferred to indicated category, adding significant value to the project.
Andrew Paterson, Managing Director of Great Boulder Resources, commented, 'These are sensational new intersections at Mulga Bill. The holes were designed to add definition within areas of inferred resource, and they have done so in emphatic style, with intersections that are both thicker and higher grade than previously estimated.'
Future Plans
The company plans to update the mineralized wireframes at Mulga Bill to incorporate these new intersections. This update is expected to be completed towards the end of the year, potentially adding more gold ounces closer to the surface, which could positively impact mine economics.
Additionally, the RC rig is currently drilling the final resource definition holes at Mulga Bill, after which reconnaissance aircore (AC) drilling will commence on new targets at the Side Well South Prospect.
The exceptional assay results from Mulga Bill are likely to have a positive impact on Great Boulder Resources' stock price. The high-grade intersections and the potential for an updated resource estimate could attract investor interest and boost market confidence in the company's exploration potential.
Investor Reaction:
Analysts are expected to react positively to the news, given the high-grade nature of the intersections and the potential for resource expansion. The upcoming resource update and the commencement of AC drilling at Side Well South are also likely to be viewed favorably.
Conclusion:
Investors should keep an eye on Great Boulder Resources as the company progresses with its exploration efforts at Mulga Bill and Side Well South. The upcoming resource update and continued drilling activities present significant opportunities for value addition.