Great Boulder Resources Ltd (ASX:GBR) has gained important structural information from five diamond holes at the Side Well Gold Project’s Ironbark and Mulga Bill prospects, intersecting high-grade gold in all holes drilled.
Although some of the intersections were fairly narrow, the grade of mineralisation was exceptionally high, with one drill hole at Ironbark producing 7.02 metres at 10.50 g/t gold from 122 metres with a higher-grade component of 0.45 metres at 102.5 g/t from 122.8 metres.
The data from these five holes, plus aircore drilling around Ironbark and Mulga Bill North, will contribute to generating new drilling targets – assays are expected in August – as well as supporting a resource model at both deposits.
Resource model targeted for Q4 this year
“These five diamond holes were designed to provide structural information at Ironbark and Mulga Bill so it’s great to see high-grade gold intersections in all five holes, particularly the two wide zones at Ironbark,” Great Boulder Resources managing director Andrew Paterson said.
“The structural orientations and new assay data will feed back into our resource model at both deposits. We are hoping to have a resource update completed during the fourth quarter of this year.
“Meanwhile, we will have the reverse circulation (RC) rig back on site for the start of August and we’re finalising heritage survey plans for the Ironbark corridor so we can start drilling those new targets as quickly as possible.”
Once GBR has mobilised the RC drill rig to Side Well, the company will undertake some 4,000 metres of drilling – to begin next week – targeting the Cervelo and Malvern lodes at Side Well, including the 'gap' area between the Central and HGV zones at Mulga Bill
Assay results from diamond drilling:
- 19.25 metres at 5.22 g/t gold from 121 metres, including 2.2 metres at 10.64 g/t from 126 metres and 2.25 metres at 19.69 g/t from 138 metres at Ironbark;
- 0.3 metres at 41.30 g/t from 195.95 metres and 1.38 metres at 8.92 g/t from 246.7 metres, including 0.36 metres at 28.9 g/t from 246.7 metres at Mulga Bill; and
- 1-metre at 45.60 g/t from 142 metres at Mulga Bill.