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Great Boulder Resources continues busy exploration program

Exploration news continues from the Tarmoola and Jundee South projects.

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Great Boulder remains leveraged to news flow

Great Boulder Resources (ASX:GBR) will commence its maiden drill program next week at its Tarmoola gold project located 40 kilometres from Leonora in Western Australia.

The initial 3,000 metre aircore program will test gold targets supported by the recent gravity survey.

Drilling is expected to commence in the last week of April and take 2-3 weeks to complete.

Great Boulder is leveraged to exploration news flow from multiple projects with maiden drilling results from Jundee South confirming the project’s potential to host gold mineralisation.

Stefan Murphy, managing director, commented: “We now need to incorporate recently acquired drilling and assay data to refine our interpretation and focus on structures and lithologies we understand act as hosts to gold mineralisation at Jundee.”


Tarmoola drill program

The gravity survey, in combination with auger geochemistry, has identified several high priority targets.

An initial 3,000 metre air core program will commence shortly to test six targets with gold and pathfinder anomalism detected along the interpreted granite-greenstone contact identified in the gravity survey.

The program will also test some blind targets, where the granite intrusions are identified in the gravity survey but excessive cover means surface geochemistry is ineffective.

Results of the aircore program will be used to refine targets and subsequent exploration programs.


Jundee South results

The maiden drilling program has confirmed Great Boulder’s tenements host key geological structures which are believed to control mineralisation at Northern Star Resources’ (ASX:NST) Jundee project immediately to the north.

A total of 24 reverse circulation holes for 3,712 metres were drilled testing a 500x400 metre area from which more than 16 ounces of gold nuggets have been recovered from surface.

Drilling succeeded in identifying significant structures containing sulphide mineralisation, quartz veining and alteration within the host Jundee dolerite sequence.

Great Boulder is now compiling multi-element geochemical data collected from the drilling program, in conjunction with geological logging, to construct a detailed geological model of Jundee South ahead of planning the next phase of drilling.


Background

Great Boulder listed on the ASX in November 2016 after raising $6.1 million.

The company has a portfolio of five exploration gold projects in the Eastern Goldfields of Western Australia:

- Balagundi: Significant historical workings and high grade drill intersections;
- Jundee South: 10 kilometres along strike from the 6+ million ounce Jundee gold mine;
- Tarmoola: Large-scale regional geochemical anomaly near operating gold mines;
- Broadwood: Interpreted to host extension to nearby Kalgoorlie Super Pit; and
- Yamarna: Underexplored belt near recent 6 million ounce gold discovery with gold and nickel-copper potential.


Analysis

Great Boulder is proving to be systematic and efficient with its exploration, which in turns provides shareholders with leverage to ongoing news flow from multiple projects.

Tarmoola is a large project at 149 square kilometres and Great Boulder has undertaken a staged approach to identifying the structural setting by employing geochemical and geophysical methods ahead of drilling.

The planned 3,000 metres aircore program will now provide low-cost first-pass drilling to verify bedrock geology, test auger geochemistry and refine the intrusion geometry.
Elsewhere the results from Jundee South are encouraging and provide clear evidence of new structures that have good potential to host mineralisation.

With more than 16 ounces of gold nuggets recovered over a strong geochemical anomaly at Jundee South, there is no question of whether gold is present at the project.

Furthermore, the Jundee South area hosts known key geological structures which control mineralisation at a neighbouring world-class mine.

Quick facts: Great Boulder Resources Ltd

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ASX:GBR
Market: ASX
Market Cap: $8.46 m
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