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Great Boulder Resources notches up to 7 metres at 3.35 g/t gold in first RC holes at Side Well

First RC drilling at the prospect has returned high-grade gold and increases confidence that Mulga Bill could be part of a large system.

Great Boulder Resources Ltd - Great Boulder Resources reports high grade gold of 7 metres at 3.35 g/t at the Side Well gold project
Assays are pending for the remaining seven RC and 66 aircore holes

Great Boulder Resources Ltd (ASX:GBR) is highly encouraged by assay results from the first five reverse circulation (RC) holes at Side Well Gold Project near Meekatharra in Western Australia.

The best result from these holes at Mulga Bill prospect is 7 metres at 3.35 g/t gold from 122 metres, including 3 metres at 6.13 g/t, within a broad zone of lower grade mineralisation containing 72 metres at 0.62 g/t from 72 metres.

Great Boulder managing director Andrew Paterson said: “These results from our first few holes are very encouraging.

“We are looking forward to receiving the rest of the RC assays.”

Positive observations in logging from other holes drilled 300 metres to 400 metres to the southwest support the interpreted northeast trend to mineralised zones within an overall corridor striking north-south.

Deep weathering within this corridor indicates the potential for Mulga Bill to be part of a large system.

In a regional sense, this system is thought to correlate with the Gabanintha Shear.

2013 Heli-TEM survey  

GBR’s consulting geophysicist has reprocessed the heli-TEM survey data acquired by Doray Minerals in early 2013.

Conductivity contours, particularly at depths between 50 to 150 metres below surface, show a strong spatial correlation with known mineralisation at Mulga Bill which provides the company with a useful targeting tool for other areas within the project.

Paterson said: “The conductivity slices from the heli-TEM survey are extremely encouraging, as we have observed increased conductivity around the Mulga Bill gold occurrence.

“There are other accumulations of enhanced conductivity defining two linear north-south trends that extend throughout the entire tenement package.”

If assays show the pyrite zones logged in recent aircore holes drilled to the south of Mulga Bill are associated with gold mineralisation, other unexplained areas of high conductivity will be tested in future drilling programs.

Conductivity plan of the southern area of Mulga Bill showing recent RC and aircore holes.

Next steps

A second round of aircore drilling at the company’s Whiteheads Gold Project was completed on October 11, with assays expected to be available in November.

Another round of RC drilling is scheduled to begin in early November at Blue Poles, within the Whiteheads project, followed by further RC work at Mulga Bill in the Side Well project.

Paterson said: “The two RC and aircore drilling programs, auger sampling program and EM interpretation have generated a lot of new information at Side Well.

“I’m looking forward to generating the next phase of drill targets.”

Quick facts: Great Boulder Resources Ltd

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