Great Boulder Resources Ltd (ASX:GBR) is planning its first round of reverse circulation (RC) drilling on priority targets at the recently acquired Whiteheads Gold Project north of Kalgoorlie in Western Australia.
The company has lodged Program of Work (PoW) applications for Whiteheads and the company intends to begin drilling in the second half of October with an initial 2,000-metre reverse circulation (RC) program.
GBR recently signed an option agreement with Zebina Minerals to acquire a 75% stake in the project.
Preparations are also underway for the next drilling round at Tarmoola Gold Project near Leonora while planning continues for further work at Winchester Nickel-Copper Project as well as Mt Carlon, both in the eastern Goldfields.
Two prospects targeted
Whiteheads drilling is set to target mineralisation at Seven Leaders and Lady Betty prospects, both of which host high-grade gold intersected in previous drilling.
A recent field visit to Whiteheads highlighted the prospectivity of the project, particularly along the mineralised corridor between Seven Leaders and Anomaly H where substantial historical workings remain relatively untested by drilling.
Whiteheads prospect locations
Managing director Andrew Paterson said the company was looking forward to drilling the Whiteheads project.
“We should have the Program of Work approvals in the next few weeks, with an RC rig turning as soon as possible.
“It will be great to see the first samples coming out of Seven Leaders and Lady Betty – we’re also busy following up leads on other prospects and planning a regional aircore program to follow the RC work.”
Tarmoola holes pegged
At Tarmoola holes have been pegged at the Sturt Meadows prospect in preparation for follow-up drilling, which is expected to follow the Whiteheads program.
The company intends to test beneath an intersection of nickel sulphide found in a deep palaeochannel earlier in the year.
Holes are also planned to test an EM anomaly which coincides with a basal contact between ultramafics and basalt, a highly prospective setting for nickel sulphide accumulation.
Other work plans
Data from a recent airborne EM survey over Mt Carlon is still being processed to refine and model potential conductive anomalies.
Once this is complete the resulting targets will be ranked and further work planned accordingly.
At Winchester, ongoing drilling is being planned to test extensions to sulphide copper-nickel mineralisation.
Update on rights issue
The company is also undertaking a rights issue of one new share for every three shares held by eligible shareholders at a price of 4 cents per new share.
The offer opened on September 18 and will close at 5pm WST on September 27.
All eligible shareholders who wish to participate should expect the prospectus, entitlement and acceptance forms in the mail this week.