logo-loader
viewGreat Boulder Resources Ltd

Great Boulder Resources shares up 40% as it hits massive sulphides at Eastern Mafic

Shares in the company have opened up 41% to 55 cents per share.

Gravity Image showing Mt Venn and Eastern Mafic
Official assays remain pending

Great Boulder Resources Ltd (ASX:GBR) has intersected extensive sulphide mineralisation in its first holes at the Eastern Mafic complex within the Mt Venn Project in Western Australia.

Importantly, this drilling has confirmed that bedrock sulphides are the source of electromagnetic (EM) conductors at the Eastern Mafic complex.

READ: Great Boulder Resources begins new drilling campaign at Mt Venn copper-nickel-cobalt asset

A total of 15 reverse circulation (RC), diamond and RC pre-collars have been drilled to date, with significant zones of sulphide mineralisation intersected at anomalies ML5, 9, 12, 15, and 16.

Supports theory Eastern Mafic is part of larger system

Mineralisation is pyrrhotite dominant with pyrite, chalcopyrite (copper sulphide) and pentlandite (nickel sulphide).

Pentlandite mineralisation supports Great Boulder’s view that the Eastern Mafic is a more nickel-rich part of the larger Mt Venn system.

Assays of wide zones of massive sulphides pending

Drilling has intersected wide zones of massive sulphide mineralisation within the core of the intrusion and along interpreted feeder structures.

Notably, mineralisation was intersected over five kilometre in strike length, confirming the Eastern Mafic is a substantial magmatic sulphide system.

Drill rigs to move to Mt Venn, then back to Eastern Mafic

Great Boulder will shortly move the diamond and RC drill rigs back to Mt Venn while assays are pending and the downhole EM survey is completed to better define the conductor plates.

Once assay and downhole EM results are received, drilling will resume at the Eastern Mafic complex.

Quick facts: Great Boulder Resources Ltd

Price: 0.028 AUD

ASX:GBR
Market: ASX
Market Cap: $3.74 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Great Boulder Resources Ltd named herein, including the promotion by the Company of Great Boulder Resources Ltd in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Great Boulder Resources three rights - location, commodities...

Great Boulder Resources Ltd (ASX:GBR) managing director Andrew Paterson talks with Proactive about its assets in the Eastern Goldfields of Western Australia and why the company should be watched during 2020. He says GBR is in the right locations near Kalgoorlie and in the Yamarna Belt, has...

on 10/2/20

2 min read