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Great Boulder Resources picks up high-grade gold in region of multi-million ounce mines

Great Boulder is set to increase exploration news flow with several programs underway.

Stefan Murphy, managing director, presenting at Proactive's CEO Sessions

Great Boulder Resources Ltd (ASX:GBR) is already mapping out plans to boost exploration at its Tarmoola project, following rock chips turning up 24g/t gold.

Tarmoola is located 40 kilometres north-west of Leonora in Western Australia.

Great Boulder will now focus its efforts on the Ursus Marionette shear zones and surrounding area, initially with a detailed soil sampling program to pin point the mineralised trends, then with follow-up reverse circulation drilling.

A potential news timeline has the soil sampling completed by early October and the company drilling by November.

Stefan Murphy, managing director, commented: "These results are outstanding and highlight the significant potential of Tarmoola.

"While surface grab samples are only indicative, the identified trend along a structural corridor, with high gold grades and close proximity to a major gold-bearing structure is very encouraging.

"Limited previous exploration appears to have been largely ineffective due to shallow aircore drilling into outcropping bedrock.

"The Marionette shear zone has no modern drilling and is effectively untested."

Proximity to multi-million ounce projects

The program also identified the regionally significant Ursus Fault, which is considered a key gold bearing structure at the +2 million ounce King of the Hills gold mine.

The Ursus fault was mapped extending over 3 kilometres within the Tarmoola project, and the high-grade gold results were coincident with the Marionette shear zone, interpreted as a splay off the Ursus Fault.

Tarmoola is located in the heart of the West Australian Eastern Goldfields, with the +9 million ounce Gwalia mine located 40 kilometres south, the King of the Hills mine located 10 kilometres to the east and the +3 million ounce Thunderbox mine located 40 kilometres north.

Drilling underway at Mt Venn

Great Boulder will also have news flow flowing through soon from Mt Venn, with maiden drilling underway.

READ NOW: Great Boulder turns focus to copper-nickel-cobalt at Mt Venn

Quick facts: Great Boulder Resources Ltd

Price: 0.045 AUD

Market: ASX
Market Cap: $8.46 m

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