The latest results provide further evidence Mt Venn is emerging as a significant discovery where numerous targets are yet to be drill-tested along the prospective 9 kilometres of strike length.
Stefan Murphy, managing director, said: “The results received so far are outstanding, particularly given that this was a first-pass reconnaissance drilling program.
“Despite the limited number of holes drilled to date, we have already outlined a substantial discovery of copper, cobalt and nickel over very wide intervals and extensive strike length.
“Importantly, the mineralisation remains open in all directions and we have several highly promising targets yet to be drilled.”
Significant drilling assays from the second batch
Great Boulder has received significant assays from the second batch of the maiden drilling program, including an intersection of 80 metres from 24 metres downhole, containing several wide zones of mineralisation:
- 15 metres at 0.54% copper, 0.16% nickel and 0.05% cobalt from 24 metres downhole, including 3 metres at 1.0% copper, 0.12% nickel and 0.04% cobalt from 24 metres;
- 16 metres at 0.59% copper, 0.13% nickel and 0.04% cobalt from 62 metres downhole, including 3 metres at 0.85% copper, 0.13% nickel and 0.04% cobalt from 63 metres; and
-10 metres at 0.78% copper, 0.18% nickel and 0.06% cobalt from 90 metres downhole, including 3 metres at 1.0% copper, 0.16% nickel and 0.05% cobalt from 90 metres;
The results extend the known mineralisation in the central zone, which hosted the initial strong assay results.
A down-hole electromagnetic survey has now been completed on all accessible holes with initial results received over the central zone.
The updated electromagnetic plates show a series of steeply dipping, stacked conductors in the mineralised zone with additional off-hole conductors that will now be tested.
Several high-priority targets yet to be drilled
A diamond drill rig has commenced the first of five planned holes.
The diamond drilling will initially focus on completing existing holes that were abandoned along the larger 9 kilometres trend and then drill extensions of the main mineralised trend.
A reverse circulation drill rig is expected back on site early next week and will operate until the Christmas break.