Great Boulder Resources Ltd (ASX:GBR) has fielded further high-grade gold assays in the recently discovered Eastern Lode at Mulga Bill deposit within the Side Well Gold Project in Western Australia.
The company has received encouraging assays for the final three holes from its phase one drilling at Mulga Bill, including:
- 9 metres at 27.29 g/t gold from 240 metres, including 3 metres at 76.95 g/t from 240 metres; which includes 1-metre at 175.50 g/t from 241 metres; and
- 7 metres at 2.83g /t from 97 metres, including 2 metres at 6.30 g/t from 102 metres.
Meanwhile, at Flagpole, GBR has also delivered ‘promising’ initial assays from the recent aircore drilling campaign, which is expected to conclude within a fortnight.
Shares up
Investors have welcomed the results with shares as much as 8.9% higher this morning to A$0.098.
Moving forward, the Challenge RC rig will arrive on site next week to kick off phase two programs at Ironbark and Mulga Bill.
GBR believes the Mulga Bill deposit is a 'company-making opportunity' with a true 'million-ounce potential'.
“Very high-grade intersection”
GBR managing director Andrew Paterson: “Assays from the final three holes of our Phase 1 Mulga Bill program include a very high-grade intersection of 9 metres at 27.29 g/t gold.
“This is the eastern lode we discovered in September last year, about 90 metres east of the HGV zone at the north end of Mulga Bill.
“Initial assays have also been received for some of the aircore holes drilled in March.
"These are adding definition around the Flagpole prospect at the southern end of the 6-kilometre Mulga Bill corridor.
“We will use that data to plan more RC drilling there shortly.
“The RC rig will be back onsite next week to commence Phase 2 drilling at Ironbark and Mulga Bill.
“The current aircore program is expected to be complete within the fortnight.”
Side Well location plan.
Aircore drilling
Initial assays from aircore drilling have added definition to the Flagpole prospect, at the southern end of the Mulga Bill corridor.
Flagpole was first identified by a bottom-of-hole assay of 23.78 g/t in 21SWAC119 drilled in late 2021, and only limited aircore and RC drilling has been completed there since.
The aircore program included 36 holes at Flagpole, nine holes along strike from Loaded Dog and 34 drilled to date at the north end of Mulga Bill.
Drilling was delayed by about 14 days following significant rainfall in late March.
With 79 holes completed and 18 remaining in the program, drilling is expected to be finished within the fortnight.
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