logo-loader
viewGreat Boulder Resources Ltd

Great Boulder Resources spins drill bit at nickel target

RC drilling is targeting a 3.5-kilometre-long anomaly prospective for nickel.

Great Boulder Resources Ltd - Great Boulder Resources spins drill bit at nickel target
Mt Carlon is one of three projects located in the Yamarna region

Great Boulder Resources Ltd (ASX:GBR) has commenced RC drilling to test a large nickel sulphide target at its Mt Carlon project in Western Australia.

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.

Quick facts: Great Boulder Resources Ltd

Price: 0.029 AUD

ASX:GBR
Market: ASX
Market Cap: $3.87 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Great Boulder Resources Ltd named herein, including the promotion by the Company of Great Boulder Resources Ltd in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Great Boulder Resources three rights - location, commodities...

Great Boulder Resources Ltd (ASX:GBR) managing director Andrew Paterson talks with Proactive about its assets in the Eastern Goldfields of Western Australia and why the company should be watched during 2020. He says GBR is in the right locations near Kalgoorlie and in the Yamarna Belt, has...

on 10/2/20

2 min read