Company
ASX:GBR
Great Boulder Resources Ltd is a mineral exploration company with high-quality gold and base metal projects in Western Australia. The company’s key focus is exploration and development of the high-grade Side Well Gold Project near the historic gold camp of Meekatharra in the Murchison region.
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“These observations by Dr Salama and his team provide an important breakthrough in our understanding of the gold mineralisation at Mulga Bill and the related alteration halos around the gold," says MD.
The company continued to build on previous high-grade success at Mulga Bill, intersecting as much as 9 metres at 24.19 g/t gold from 193 metres, including 1-metre at 184.78 g/t.
“The demerger of the highly prospective Yamarna project is a win-win for the company and its shareholders, enabling Great Boulder to crystallise value from the non-core base metals assets, while ensuring management time and resources remain
The Yamarna Copper-Nickel-Cobalt Project will spin out into a dedicated ASX-listed battery metal focused vehicle with its own highly experienced board and management team.
The next phase of aircore drilling is now underway testing a range of targets on the Mulga Bill corridor as well as regional targets within the Side Well Gold Project.
Managing director said, “Given the scale and potential of Mulga Bill there is a lot more drilling to do but every program improves our confidence that this is a large scale, well-endowed mineral system.”
The precious metals explorer is prospecting at the heart of a multi-million-ounce goldfield, where the latest round of reverse circulation and aircore drilling turned the soil on a suite of promising results.
“The transaction also enables Great Boulder and our shareholders to participate in the upside potential of the Yamarna Project with GBR retaining circa 50% of the new entity and by providing a priority offering in the new entity to existing
“Given its location, size and the results we’ve seen to date I think Mulga Bill has the potential to have a plus million-ounce gold endowment," says MD.
The program, which will take two weeks to complete, will assist with the company’s understanding of the Mulga Bill prospect and future drill targeting.
GBR’s latest drilling results extend Blue Poles’ main supergene gold mineralisation zone and hint at a potential plunge towards high-grade primary gold to the south.
Five high-grade targets in the central area of Mulga Bill will be drilled for structural and mineralogical data.
The company has enacted the Side Well option 12 months early after intersecting bonanza-grade gold earlier this year.
A recent analysis of GBR’s multi-element data had identified a pathfinder element association characteristic of an intrusive-related gold system (IRGS).
The intersection of further high-grade gold at Side Well project provides the company with confidence to plan further definition drilling in the next program.
The 2,500-metre program will test strike extensions to the north and south and provide additional definition within the deposit.
The explorer has opted to continue exploration at the copper-nickel-cobalt Yamarna asset as the sole owner, trading a private miner’s remaining interest for a royalty stipend.
The latest assays follow bonanza-grade results released in early May that prompted Great Boulder shares to hit a fresh 2.5-year high of 15 cents at the time.
The placement will position the company to accelerate drilling at the Side Well and Whiteheads projects, and also undertake a maiden exploration program at the exciting new Wellington Project.
Securities will remain halted until Wednesday, May 19 or when an announcement is released to the market.
The program includes holes at Matilda Prospect aiming to follow up undrilled strike extensions to an intersection of 3 metres at 35.5 g/t gold from 76 metres drilled in 2011.
Following this week’s success at Whiteheads, the strong Mulga Bill results at Side Well have pushed the share price higher for the second straight session to a new two-year high of 14 cents.
The company is encouraged by the continuity and consistency of Whiteheads drilling intersections and is now planning another round of reverse circulation drilling to infill these areas.
The company is encouraged by the continuity and consistency of the drilling intersections and is now planning another round of reverse circulation drilling to infill these areas.
Following an initial intersection of 52 metres at 1.02 g/t gold from 28 metres, the company surveyed several holes using an optical tele-viewer to capture down-hole structural information.
The company has lodged exploration licence applications over a new zinc-lead project to be named the Wellington Project, which has been highlighted by Rumble Resources’ major discovery.
Maiden aircore drilling is planned for the Matilda prospect at Side Well to follow up a previous intercept of 3 metres at 35.5 g/t gold.
The research aims to develop fast and cost-effective techniques for detecting gold mineralisation under alluvial cover.
Drilling at the company's Blue Poles gold discovery in November 2020 defined broad zones of primary gold mineralisation over a 700-metre strike, open to the south and at depth.
Drilling at Blue Poles in November 2020 defined broad zones of primary gold mineralisation over a 700-metre strike, open to the south and at depth.
The company's recent placement and entitlement offer will raise up to $3.11 million, and in conjunction with existing cash reserves of $1.2 million, will allow Great Boulder to fund various work at its gold projects in WA.
Recent drilling continues to demonstrate the continuity of mineralisation over an extensive strike length of around 3.7 kilometres demonstrating potential for a large discovery.
Binding commitments have been received for a single tranche placement to raise $1.65 million before costs at $0.035 per share from new, high-quality institutional, sophisticated and professional investors, as well as existing significant sh
Recently the company received initial results from a high-resolution gravity survey which confirmed a large low gravity feature striking south from outcropping granite in the project's northeast corner.
New high-resolution gravity data has revealed a corridor of low gravity coincident with the Arsenal Trend, indicating that the entire 20-kilometre trend could be prospective for new gold discoveries.
The company is focused on advancing gold exploration at the Mulga Bill prospect at the Side Well Project and the Blue Poles discovery at the Whiteheads Project.
Initial RC drilling at the prospect has discovered gold mineralisation over a 700-metre strike length with mineralisation open at depth and to the south.
The high-grade assays from reverse circulation drilling at Mulga Bill prospect correlate well with results from historical drilling in the area.
Aircore and auger programs at the Side Well Gold Project near Meekatharra in Western Australia have identified gold mineralisation with multiple parallel north-south mineralised trends apparent.
During the September quarter, the company acquired a new project which led to a series of field programs at Side Well and Whiteheads gold projects.
These new results add further weight to the Blue Poles discovery
The next RC program is scheduled to start in the second week of November at Blue Poles, within the Whiteheads project, followed by further RC work at Mulga Bill.
First RC drilling at the prospect has returned high-grade gold and increases confidence that Mulga Bill could be part of a large system.
Phase 1 aircore and auger drilling has been completed at Side Well with Phase 2 aircore drilling underway at Whiteheads.
Funds raised will be used for an aggressive exploration program focused on the company’s gold projects at Side Well and Whiteheads in Western Australia.
Earlier this month the company received firm commitments for a capital raising of $2.3 million which also included a $1.33 million placement.
The company is undertaking 6,000 metres of aircore drilling at Mulga Bill prospect to infill 400-metre gaps between previous RC drilling along with a 600-hole auger program elsewhere at the Side Well project.
The closing date for the entitlement offer has been extended by five business days to 5.00pm (WA time) on Friday, September 11.
The company has a range of projects from greenfields through to advanced exploration including Mt Venn and Winchester, Whiteheads and the Side Well Gold Project.
First-pass aircore drilling has intersected gold over 600 metres of strike and over 70 metres width at the Blue Poles prospect.
The commitments for the fundraising initiative from sophisticated and professional investors indicates strong support for the company’s gold exploration plans.
During the June quarter, the company completed desktop reviews of many potential opportunities, culminating in taking up the Side Well option.
Paterson now holds 6 million options expiring on 30 June 2022 and 199,362 shares in the company.
This richly endowed area has produced nearly four million ounces of gold, with over 2.7 million ounces remaining in current resources.
With advanced copper-nickel-cobalt projects and the Whiteheads Gold Project plus the backing of a strong technical team, the company is well-positioned for future success.
The mineralisation sits approximately 250 metres down-plunge from the interpreted top of the shoot, or 80 metres down-plunge from the nearest drill hole.
Analysis has revealed that nickel values at Mt Carlon's Eastern Zone anomaly are not associated with sulphide mineralisation.
An in-depth review of its exploration program has resulted in the company consolidating its focus on four WA gold and nickel projects within its portfolio.
The company will consolidate from five to four projects in Western Australia with a focus on gold and nickel.
RC drilling is targeting a 3.5-kilometre-long anomaly prospective for nickel.
The company has secured access to a nickel sulphide project with very little capital outlay, an EM survey is planned.
The company has a portfolio of high-quality gold and nickel projects in the Archean Yilgarn Craton in Western Australia.
The new gold target, which is part of the Arsenal trend is one of many developing gold prospects at the Whiteheads Project.
Multiple drill programs are scheduled to commence during the current March quarter.
Great Boulder managing director Andrew Paterson will present at Proactive’s CEO Sessions in Sydney on February 3 and Melbourne on February 4.
The anomaly above two EM conductors was identified in a 140-hole auger program near an historical RC hole.
The results are highly encouraging since they confirm the presence of shallow high-grade gold in several areas along the Whiteheads corridor.
Reverse circulation drilling is underway on advanced prospects at Seven Leaders, Lady Betty and Whiteheads Find.
Drilling will commence at the Whiteheads Gold Project next week.
Great Boulder is exploring the Mt Carlton Project which it acquired from Gold Road Resources in August.
With advanced projects including Mt Venn and Winchester copper-nickel-cobalt projects and Whiteheads Gold Project, the company is well-positioned.
The targets are at the Mt Carlton Project, which GBR acquired from Gold Road Resources in August.
The program of work (PoW) approvals has been lodged for priority targets at the Whiteheads Gold Project.
The company is finalising details for the issue of 17.5 million shares to raise $700,000 under a placement announced on August 30.
Multiple large-scale gold anomalies and previous drill intersections at the project includes 8 metres at 7.19 g/t gold from 74 metres.
Details of the company’s acquisition are expected by start of trade on Monday.
Further drilling will be carried out this quarter in a bid to find the origin of the sulphide mineralisation.
A new exploration tenement located south along strike from the Winchester prospect was recently granted for an initial five-year term.
The latest aircore drilling program has extended known nickel, copper and PGE anomalism to more than 2.5 kilometres.
It has assets in WA’s Yamarna-Mt Venn region near future Gold Fields' mine Gruyere.
The EIS co-funded drilling program was designed to test potential feeder structures.
The company’s due diligence, including drilling and petrography, confirmed the presence of high-grade nickel and copper mineralisation.
Results exceeded expectations and a clear development path has been set for the project.
The company’s shares are trading about 19% higher intra-day, at 18 cents.
Drilling has commenced at the Zermatt prospect targeting high-tenor nickel sulphide mineralisation.
Investments and investor services
Despite a sharp price correction in 2018, shrinking supply sources and growing demand for battery chemicals are predicted to sustain cobalt prices into the 2020s.
Up to four deeper diamond holes are planned with drilling expected to begin within a month.
Drilling will target the high-grade sulphide core of the Eastern Mafic system.
The company’s CFO Rod Lovelady will present at tomorrow’s Proactive CEO Session in Melbourne.
Chief executive officer Greg Cochran will present to investors in Sydney next Monday.
Chief executive officer Mark Sykes will present to investors in Sydney on Monday, November 19.
Recent drilling has increased nickel, copper, cobalt and PGE grades and improved understanding of mineralisation.
Investments and investor services
The company has a suite of gold projects in WA’s multi-million-ounce greenstone belts.
Managing director Scott Williamson will present to investors in Sydney and Melbourne.
Investments and investor services
High Peak Royalties Ltd will outline royalty investment strategy at CEO Session in Melbourne
The next luncheon sessions will be in Sydney on 19 November and Melbourne on 20 November
The copper sulphide graded 42% copper, the chemical grade cobalt sulphate 29% cobalt and nickel sulphide 42% nickel.
Assay results deliver strong clues to the nature of mineralised systems at the company’s two primary WA focus areas.
The company has identified extensive copper-nickel-cobalt mineralisation at the Mt Venn Project, outlined over several kilometres.
The company has secured an option from Ausgold Ltd over the Yamarna Nickel Project, north of Mt Venn.