Great Boulder has plenty of room to grow at Mulga Bill

Great Boulder has confirmed it’s only drilled a bare fraction of the Mulga Bill mineralised system and there’s plenty of undiscovered potential left to explore.

This comes after the company completed a 2D induced polarisation survey on four lines across the Mulga Bill trend that generated a strong chargeable response that is coincident with known gold mineralisation.

Notably, the strength and depth of the IP signal provides priority drill targets for follow-up, particularly a second deep and strongly chargeable feature beneath the less well-drilled “eastern zone” that will require deeper drilling.

“The four 2D IP lines support our thesis that the mineralised zone should be visible to an IP survey,” managing director Andrew Paterson said.

“The strength and depth of the IP response is extremely encouraging and supports our view that the area we’ve drilled at Mulga Bill is only a small part of the mineralised system.”

Great Boulder Resources (ASX:GBR) is now completing a 3D IP survey along strike of Mulga Bill that will allow it to generate a 3D model of the chargeable features that it can use for targeting further drilling.

“We will also be doing more drilling at the southern end to understand this new high-grade zone. All this information is helping plan exploration for the year ahead,” Paterson added.

“With 100,000m of drilling budgeted for 2022 we anticipate learning a lot more about Mulga Bill as the year unfolds as we move towards an exploration target and a maiden Inferred Resource.”

Survey results

The IP survey was completed on four east-west lines, of which three cover the strike extent of known high-grade gold mineralisation while the last covers the southern end, where a recent AC hole intersected bottom-of-hole mineralisation assaying 23.78g/t gold.

This defined a strong, deep chargeable body indicative of sulphide mineralisation in fresh rock below deep weathering that is coincident with gold mineralisation on each of the first three lines.

Meanwhile, the high-grade mineralisation intersected to the south in SWAC119 did not generate a chargeable IP anomaly and may indicate a different style of mineralisation.

This theory is supported by mineralisation not being coincident with a gravity anomaly.

Other activity

Diamond drilling is currently under way at the project to test fresh rock intersections at several locations along the Mulga Bill trend.

Core from this program will provide invaluable structural measurements relating to the orientation of mineralised structures, as well as specific gravity data within and around the zone of anomalous gravity.

This will allow the company to generate a second gravity inversion model that should better locate the anomaly defined in the present unconstrained model.

Changes in rock density are believed to be due to the presence of sulphide minerals, a belief that is supported by the presence of disseminated pyrite and occasionally chalcopyrite.

Great Boulder is also waiting on assays from its aircore drilling targeting several discrete multi-element soil anomalies defined by soil sampling at Jones Well.

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.