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Great Boulder Resources moves quickly to get drill spinning at new Whiteheads Gold Project

Reverse circulation drilling is underway on advanced prospects at Seven Leaders, Lady Betty and Whiteheads Find.

Great Boulder Resources Ltd - Great Boulder Resources moves quickly to get drill spinning at new Whiteheads Gold Project
An RC drill crew on site at the Whiteheads Gold Project

Great Boulder Resources Ltd (ASX:GBR) has moved quickly to begin exploration at the new Whiteheads Gold Project in WA with a 2,000-metre reverse circulation (RC) drilling program underway.

An exploration option over the brownfield project 60 kilometres north of Kalgoorlie was obtained by the company in an agreement with Zebina Minerals at the end of August.

The initial program will consist of around 2,000 metres of RC drilling on advanced prospects at Seven Leaders, Lady Betty and Whiteheads Find.

“Exciting project”

“It’s good to have the rig turning at Whiteheads” said Great Boulder’s managing director Andrew Paterson.

“We have a lot of field activity planned over the next few months to unlock the potential of this area.

“It’s an exciting project and I’m looking forward to receiving the assay results from this drilling.”

Whiteheads location map.

The RC program is expected to take two weeks with assay results expected within three to four weeks of the completion of drilling.

Further work

GBR is planning further work on the Eastern Goldfields project, including:

  • Structural mapping on the Whiteheads corridor;
  • High-resolution dronemag (aerial magnetic geophysical) surveys over Seven Leaders and over the Lady Betty to Whiteheads Find area; and
  • Soil sampling at Painkiller.

Historical soil geochemistry on the Arsenal trend is also being reviewed with the intention of prioritising further auger sampling and/or aircore drilling.

Range of projects

With a focus on base metals and gold, the company has a range of projects from greenfields through to advanced exploration.

Great Boulder Resources’ Eastern Goldfields projects.

The company is well-positioned for future success with its advanced copper-nickel-cobalt projects including Mt Venn, Winchester and Whiteheads plus the backing of a strong technical team.

New substantial shareholder

GBR also has a new substantial shareholder with Chris Retzos holding a 5.19% stake.

The Victorian-based investor, who has 6.925 million shares in two indirect interests, became a substantial shareholder on October 17, 2019.

One batch of 3.875 million shares was purchased on-market on October 9 for total consideration of $155,000 and another batch of 3.05 million was purchased on-market on October 17 with a value of $122,000.

Shares have risen to 6 cents in early trade, up from 4.6 cents on October 11.

Quick facts: Great Boulder Resources Ltd

Price: 0.029 AUD

Market: ASX
Market Cap: $3.87 m

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