Talk about starting the year on a high note. Initial assays from recent drilling at Great Boulder’s Mulga Bill prospect in WA have returned bonanza gold grades.

Results such as these:

  • 4m at 40.68 grams per tonne (g/t) gold, or about 1.3oz of gold per tonne, from a depth of 210m within a broader 9m intersection grading 21.21g/t gold from 207m (21MBRC062); and
  • 1m at 28.48g/t gold from 92m within a 6m zone at 5.99g/t gold from 88m (21MBRC061).

Certainly worthy popping open some champagne for.

Adding further interest for Great Boulder Resources (ASX:GBR), three of the eight holes received to date intersected strong disseminated pyrite and gold mineralisation across the top of a coincident gravity and EM anomaly to the south of previous drilling.

Managing director Andrew Paterson noted that while the “cracking” grades are a fantastic start to the year, they also highlight that the company is learning more about the deposit with each hole – pointing to the subvertical interpretation on the high-grade zone in hole 21MBRC062 as an example.

“Further to the south we drilled three holes over the geophysical target. It was great to see thick zones of disseminated pyrite in all three holes, highlighting the width of the system,” he added.

“The assays show zones of low to medium-grade gold mineralisation, with a maximum assay value of 5.91g/t from 161m in 21MBRC095.

“This result gives us confidence to drill a deep diamond tail through the centre of the geophysical target when we have a rig on site next month.”

Assays are pending from the remaining 33 holes in this program as well as 65 aircore holes at Mulga Bill and Ironbark that were drilled concurrently.

Drill results show there’s more to learn

Results have been received for eight of the 41 holes that the company drilled during the Phase 5 reverse circulation program at Mulga Bill within the Side Well gold project near Meekatharra.

Great Boulder noted that the top intersection in 21MBRC062 appears to correlate with a sub-vertical mineralised structure logged in a nearby diamond hole last year, which means this high-grade zone is on a different orientation to other flat-lying high-grade veins nearby.

It added that while high-grade quartz-hosted intersection of 6m at 5.99g/t gold in hole 21MBRC061 was also drilled in hole 21MBRC062, the gold at the latter location appears have been stripped out during weathering as the vein is above the base of depletion.

The company noted that drilling indicates that this depletion layer has a variable effect in mineralisation, which explains why quartz lodes sitting close to this depth in adjacent holes have displayed variable levels of gold mineralisation.




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.