The target, known as the Eastern Zone anomaly, is a 3.5-kilometre-long geophysical anomaly which coincides with elevated nickel values from previous aircore drilling.
A line of RC drill holes will determine whether the ultramafic rock is a fertile host for nickel mineralisation.
Target supported by three different data points
Great Boulder’s managing director Andrew Paterson said: “Based on the data, this target is very promising and RC drilling is now needed to refine its prospectivity further.
“Having an anomaly supported by three different data sets in the same location is extremely compelling. In this case, we have the IP anomaly coincident with prospective ultramafic units and elevated nickel in aircore drilling.
“This initial drilling is designed as a proof of concept, taking samples for multi-element analysis to tell us if we’re in the right ballpark. If the results are positive, we’ll come back with a broader program drilling fences of holes along strike.”
Recent option agreement at Mt Mt Jewell Nickel Project
In February 2020, Great Boulder entered an option agreement to acquire a 75% interest in the Mt Jewell Nickel Project near Kalgoorlie in Western Australia.
With historical sulphide intersections grading as high as 3.38% nickel, the project has known high-grade nickel sulphide mineralisation.
Mt Jewell also adjoins (so will potentially expand) the Whiteheads Project, where a recent a 3.8-kilometre-long gold-in-soil anomaly was identified.
Initial consideration was $10,000 in cash or shares for the 12-month option over which time it must spend $20,000 on exploration.
The exercise price is $100,000 in cash or shares and will give Great Boulder a 75% interest in the project.
The payment of either cash or shares is Great Boulder’s choice.
The company aims to explore the area closely with a high-sensitivity EM survey with the goal of identifying sulphide conductors at depth, which will then be drill-tested.