Great Boulder has highlighted some potentially big prizes at the Mulga Bill prospect within its Side Well project in WA where recent drilling has struck high-grade gold.
Recently completed offset pole-dipole Induced Polarisation (3D-IP) surveying had identified several large chargeable zones, which are interpreted to be disseminated sulphide bodies, beneath the central 3km strike of Mulga Bill.
Notably, the zones correlate very closely with the gravity anomaly that was spotted by the company last year.
Great Boulder Resources (ASX:GBR) believes this is important as the correlation between gold and sulphur in its assay results indicates that sulphide zones in this area are an important target for gold mineralisation.
“By completing the 3D-IP survey we now have a three-dimensional model of chargeable sulphide along the central area of Mulga Bill that we will start testing with RC drilling,” managing director Andrew Paterson said.
“This is a very large target volume, adding to our confidence in the scale of the Mulga Bill system.
“The significance of the sulphide target is that we’ve already identified a relationship between pyrite and gold mineralisation, so any areas where sulphides have been identified are a priority exploration target for gold.”
Survey results
The IP survey completed in mid-April by Moombarriga Geoscience, with data processed by Terra Resources, had identified the zones with chargeability of between 10 millivolts per volt (mv/v) to 12mv/v, which is believed to correlate with between 1% and 2% disseminated sulphide.
The company added that the survey indicated the presence of cross-cutting structures that intersect Mulga Bill, which could explain breaks in both the strike and depth of the sulphide zones.
It also noted that deeper holes would be required to test the sulphide target in an area where a gravity-electromagnetic “bullseye” target tested by three reverse circulation holes late last year returned a chargeability response that sits deeper than the maximum depth reached by the holes.
Interpretation of structures using the combined IP and gravity data is ongoing.
This article was developed in collaboration with Great Boulder Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.