Drill results have confirmed gold mineralisation over 300 metres of strike at Mt Bellew North and over 200 metres of strike at Mt Bellew East within the Balagundi project.
Significant new intersections include 14 metres at 1.4 g/t gold from 14 metres down hole.
Phase 2 drilling has now been completed at Balagundi with all assay results received and compiled for further geological interpretation.
Stefan Murphy, managing director, commented: “These latest results continue to highlight the potential at Balagundi to establish a significant gold project in the heart of the Western Australian goldfields.”
“Both deposits remain open and we look forward to testing the upside with our next round of drilling.”
Drill result details
Significant new intersections from the Phase 2 drilling include:
- 3 metres at 2.0 g/t gold from 6 metres;
- 14 metres at 1.4 g/t gold from 14 metres;
- 5 metres at 1.5 g/t gold from 12 metres;
- 5 metres at 1.3 g/t gold from 17 metres; and
- 4 metres at 1.4 g/t gold from surface.
These results are in addition to the previously reported Phase 1 significant intersections along the Mt Bellew North trend, including:
- 4 metres at 3.5 g/t gold from 26 metres;
- 4 metres at 3.5 g/t gold from 75 metres;
- 4 metres at 5.6 g/t gold from 135 metres;
- 6 metres at 1.9 g/t gold from 15 metres; and
- 8 metres at 1.5 g/t gold from 35 metres.
At Mt Bellew North, mineralisation has now been delineated along a 300 metre strike extent and remains open along strike to the south and up-dip to the south-west.
Follow-up drilling is planned to test the areas of open mineralisation.
At Mt Bellew East, mineralisation has been identified along a 200 metre strike extent and remains open along strike.
As drilling along this trend is sparser than at Mt Bellew North, Great Boulder is undertaking further structural and geological modelling ahead of further targeted drilling.
Furthermore, three new drill targets at have been identified at Balagundi as a result of reviewing and reprocessing historical data.
Phase 2 drill results from the flagship Balagundi gold project continue to confirm significant near surface gold mineralisation at Mt Bellow North and Mt Bellow East.
Great Boulder is working towards resource definition drilling prior to assessing stand-alone or toll-treatment development options.
The drill results are significant as Balagundi is the target of Great Boulder’s early-production strategy through low-cost open pit gold mining.
Much of the gold mineralisation intersected is within the deeply weathered saprolite which is a soft, friable horizon amenable to low-cost, free-dig open pit mining methods.
One of the key benefits of the Balagundi project is its close proximity to Kalgoorlie and related infrastructure.
The project is within haulage distance of many operating or idle processing facilities and is well serviced by bituminised road, power and water infrastructure, potentially reducing start-up capital and accelerating development timeframes.
Balagundi is one of Great Boulder’s five gold projects located in the Eastern Goldfields of Western Australia.
Results from the 983-hole auger program at the Tarmoola gold project are expected imminently.
Tarmoola is located within a large regional arsenic geochemical soil anomaly which also encompasses the Gwalia, King of the Hills, Bannockburn and Thunderbox gold mines, collectively hosting over 15 million ounces of gold.
Proactive's Spotlight CEO Sessions
Stefan will be presenting for Great Boulder Resources in Melbourne on Tuesday, 31st January and Sydney on Wednesday, 1st February.
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