Great Boulder Resources Ltd (ASX:GBR) has had results described as "stunning" from reverse circulation (RC) drilling at Mulga Bill prospect, part of the Side Well Gold Project near Meekatharra in Western Australia, fielding two intersections of coarse visible gold which returned the best assays to date.
The two visible gold intersections were submitted for analysis at ALS in Perth using the Photon assay technique, a non-destructive method using a coarse-crushed sample size of about 500 grams.
Best gold from Mulga Bill
The assays back from the lab tell the story:
- 1-metre at 3,451 g/t gold from 114 metres; and
- 1-metre at 2,379 g/t gold from 158 metres.
These intersections are within high-grade lodes that form part of the Mulga Bill inferred mineral resource.
The upper intersection corresponds to a west-dipping high-grade vein and is down dip of a previous intersection of 10 metres at 28.74 g/t gold from 96 metres.
The remaining assays from the drill hole are expected in coming weeks.
In the meantime, RC drilling at Mulga Bill RC continues, and an 11,000-metre aircore drill program has also started testing regional targets along the more-than-6-kilometre Mulga Bill corridor, including Flagpole, Loaded Dog and Mulga Bill North.
“This stunning result is by far the highest gold assays we have yet seen at Mulga Bill,” Great Boulder managing director Andrew Paterson said.
Coarse, visible gold
“We have now drilled more than 275 RC holes within the Side Well project area. This is the first time we’ve seen coarse visible gold and the first time we’ve seen assays over 1,000 g/t.
“Results like this are extremely unusual at Mulga Bill, and we will need to do tight-spaced infill drilling around this area to quantify the extent and grade of this high-grade zone.
“I need to remind investors that results like these are not representative of the broader mineralisation style, as evidenced by the fact that this is the first time we have seen visible gold in drilling, and we will be able to place more context around these two intersections once we have assays back for the rest of this hole and the remainder of the program.
“We submitted the two intervals containing visible gold for photon assay at ALS for a quick turnaround.
"The photon process works well for high grade, and the 500-gram sample size helps overcome problems caused by the nuggety gold distribution.”
Shares higher
These results have seen GBR shares as much as 13.41% higher in ASX trading this morning to A$0.11 and since the market close on February 22, shares have risen from A$0.078.
Read more on Proactive Investors AU
