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Great Boulder Resources completes capital raising, gold drilling next week

Drilling will commence at the Whiteheads Gold Project next week.

Great Boulder Resources Ltd - Great Boulder Resources completes capital raising, gold drilling next week
An initial 2,000-metre RC program will test brownfields targets at Whiteheads

Great Boulder Resources Ltd (ASX:GBR) has successfully raised $2 million through a share placement and rights issue.

The company is now fully funded for its ongoing exploration programs with drilling to commence shortly at the recently acquired Whiteheads Gold Project in Western Australia.

The initial reverse circulation (RC) drill program will be followed by mapping and geophysical surveys.

Elsewhere in the project portfolio, Great Boulder will be testing electromagnetic (EM) targets at its Tarmoola and Mt Carlon gold projects in the coming quarter.

Great Boulder’s managing director Andrew Paterson said: “We’ve had a strong response to the recent placement and rights issue, leaving us fully-funded to execute our impending exploration programs.

“With all our approvals in place, the RC rig is scheduled to start at Whiteheads next week, with a 2,000-metre program designed to test brownfields targets there.

“We’ve also scheduled structural mapping to look at the high-grade vein orientations within the Whiteheads corridor along with a high-resolution drone-mag survey.

“There will also be drilling at Tarmoola and Mt Carlon as soon as we finalise the programs.

“These ongoing exploration programs are expected to generate strong news flow over coming months.”

Proactive caught up with the company in mid-late September 2019 for an update.

Quick facts: Great Boulder Resources Ltd

Price: 0.04 AUD

Market: ASX
Market Cap: $5.34 m

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