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Great Boulder Resources board member buys 1.1 million shares

Great Boulder is exploring the Mt Carlton Project which it acquired from Gold Road Resources in August.

Great Boulder Resources Ltd - Great Boulder Resources board member buys 1.1 million shares
An aerial electromagnetic (EM) survey was completed at Mt Carlton earlier this week

Great Boulder Resources Ltd (ASX:GBR) non-executive director Murray Black has acquired 1.16 million shares by participating in the recent rights issue.

The $46,666 purchase increases Black’s holding in the company to 4.66 million shares.

Black has over 39 years’ experience in the mineral exploration and mining industry and has served as a director of several publicly listed Australian companies.

He part-owns and manages Blue Spec Drilling along with interests in several commercial developments and has significant experience in capital financing.

Two priority targets generated at Mt Carlton

Earlier this week, Great Boulder completed an aerial electromagnetic (EM) survey at its Mt Carlton Project in Western Australia.

The survey generated two priority large targets known as the Eastern Zone and Western Zone, both anomalies being over three kilometres in length.

The 3.5-kilometre-long Eastern Zone anomaly is coincident with ultramafic rocks and a zone of elevated nickel.

The 3.7-kilometre Western Zone anomaly is coincident with a mapped banded iron unit suggesting potential gold mineralisation.

Great Boulder intends to conduct further field reconnaissance of the anomalies, followed by soil and rock chip sampling over both areas to further refine the targets before proceeding with surface geophysical surveys.

Mt Carlton is 60 kilometres south of the company’s Mt Venn Copper-Nickel-Cobalt Project and was acquired from Gold Road Resources (ASX: GOR) in August 2019.

Quick facts: Great Boulder Resources Ltd

Price: 0.056 AUD

ASX:GBR
Market: ASX
Market Cap: $7.47 m
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