Great Boulder Resources Ltd (ASX:GBR) believes the Mulga Bill North prospect at the Side Well Gold Project is shaping up as a “significant” northern extension to the existing resource, following the latest round of assays from resource expansion and definition drilling coupled with a northern exploration program.
At Mulga Bill North, the company unearthed results up to 4 metres at 5.48 g/t gold from 160 metres.
GBR has now defined mineralisation at this northern prospect to over 700 metres of strike length, still open in all directions for further exploration.
Additionally, the company hit 8 metres at 13.68 g/t gold from 64 metres – which also included a higher-grade intersection of 4 metres at 25.33 g/t gold – in a separate northern extension to the main Mulga Bill prospect.
New high-grade zone adds ounces
“These results are the last eleven holes targeting shallow mineralisation at Mulga Bill plus five exploration holes at Mulga Bill North,” Great Boulder Resources managing director Andrew Paterson said.
“The hole which intersected 8 metres at 13.68g/t gold is outside the current resource at the north-eastern end of Mulga Bill.
“At this stage we’re not sure if it’s a new supergene zone or an extension of a high-grade west-dipping vein. In either case it’s a new high-grade zone which adds ounces to the project.
“At Mulga Bill North it appears hole 23MBRC086 has intersected northeast-trending mineralisation.
“The next hole to the north didn’t drill deep enough to intersect that trend, so it remains open along strike. Our pathfinder geochemistry looks very promising in that area and further drilling is required.
“The team is now finalising all the Mulga Bill wireframes in preparation for the resource update later this month.
“Meanwhile we are looking forward to the second heritage survey on the northern half of the Ironbark corridor. Our other drilling approvals are in place, and we’re looking forward to drill testing these areas as soon as possible.”
Next steps
The company says its geological team is on track to deliver an updated estimate for the existing Side Well mineral resource estimate of 6.2 million tonnes at 2.6 g/t gold for 518,000 ounces of gold at the end of October.
In addition, GBR is scheduled to begin the second of two Aboriginal heritage surveys within the Ironbark Corridor in the third week of October.
Once the survey is completed and the consultant’s final report is signed off the company hopes to have all approvals in place to begin drill testing new targets along the Ironbark Corridor as soon as possible.
Full assay results
- 8 metres at 13.68g/t gold from 64 metres including 4 metres at 25.33g/t gold from 64 metres at Mulga Bill;
- 7 metres at 4.84g/t gold from 88 metres, including 3 metres at 9.18g/t gold from 88 metres at Mulga Bill;
- 1-metre at 12.30g/t gold from 227 metres at Mulga Bill;
- 4 metres at 5.48g/t gold from 160 metres at Mulga Bill North; and
- 4 metres at 3.89g/t gold from 72 metres at Mulga Bill North.