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Great Boulder Resources to probe nickel sulphide potential at Whiteheads after Estrella's recent T5 discovery

The company remains focused on evaluating its recent Blue Poles gold discovery, with reverse circulation drilling scheduled to begin in early November.

Estrella Resources Ltd -
The board will continue to keep the market informed as the project progresses

Great Boulder Resources Ltd (ASX:GBR) will investigate the potential for nickel sulphide bodies at Whiteheads following the recent discovery of massive sulphide at T5 prospect within Estrella Resources Ltd’s (ASX:ESR) Carr Boyd project north of Kalgoorlie.

The minerals exploration company is starting a program to reprocess available geophysics and correlate observations from this assessment with an updated geological map of the area.

A recently completed bottom-of-hole multi-element sampling program will assist in this process, coordinated with targeted field mapping to ground truth all observations.

The board will continue to keep the market informed as the project progresses.

Great Boulder stresses that the company remains focused on evaluating its recent Blue Poles gold discovery, with reverse circulation drilling scheduled to begin in early November.

Nickel potential

There has been a significant amount of historic nickel exploration completed at Whiteheads, particularly in the Lignum Dam area within the western half of Whiteheads, where companies including Hemisphere, Rox Resources Ltd (ASX:RXL) and Mithril Resources Ltd (ASX:MTH) explored for komatiite-hosted nickel at the Wishbone and Drumstick prospects.

Despite this, activity there has been only a minor amount of work completed in the northeastern area adjacent to Carr Boyd.

Estrella’s T5 prospect

On October 8, 2020, Estrella announced the intersection of a 2.9-metre zone of massive sulphide at T5 prospect within its Carr Boyd project.

This was followed by another announcement on October 2-0, with further information, including the results of a down-hole EM survey on the discovery hole.

Great Boulder noted that after each of these announcements, Great Boulder’s share price climbed 56% and 27% respectively, coincident with heavy volumes of shares traded.

The Carr Boyd project is immediately north of Great Boulder’s Whiteheads project and Estrella is exploring for magmatic hosted sulphide nickel within the Carr Boyd Layered Complex.

Although this is the first significant intersection at depth on the T5 prospect, the discovery compares favourably to recent magmatic sulphide discoveries made by Legend Mining Limited (ASX:LEG) and Chalice Gold Mines Limited (ASX:CHN).

Focus on base metals and gold

Great Boulder, which focuses on base metals and gold, has a range of projects from greenfields through to advanced exploration.

This includes advanced copper-nickel-cobalt projects including Mt Venn and Winchester, and the Whiteheads and Side Well gold projects.

Quick facts: Great Boulder Resources Ltd

Price: 0.05 AUD

ASX:GBR
Market: ASX
Market Cap: $9.4 m
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