Great Boulder is back on the hunt for high-grade gold at Mulga Bill

Great Boulder has recommenced reverse circulation that will initially target extensions of high-grade gold zones along the 6km long Mulga Bill – Loaded Dog corridor.

The first round of drilling under the 5,000m drill program at the extensive Side Well project near Meekatharra, Western Australia, will also test primary gold mineralisation over a defined 500m of strike at the Ironbark prospect about 1.5km east of the Mulga Bill prospect.

Ironbark, which remains open to the south, was discovered by auger sampling in 2021 with first pass AC drilling intersecting anomalous gold including 8m at 2.39g/t gold in hole 21SWAC101.

Great Boulder Resources (ASX:GBR) expects the program to take about four weeks to complete and will concurrently complete and process a 3D induced polarisation survey.

It also expects to restart diamond drilling at Mulga Bill during this period.

“Our Mulga Bill exploration program is continuing at full speed with the commencement of our first RC drill program for 2022,” managing director Andrew Paterson said.

“The additional structural data from the diamond drilling program plus the RC data we gain from this program will be the next step in building our understanding of Mulga Bill.

“The team is looking forward to seeing the full 3D inversion model of chargeability anomalies associated with sulphide once the IP survey is complete, as it will provide our first three-dimensional model of sulphide zones that will be subject to further drilling.”

Paterson added that the company is well funded to accelerate drilling later this quarter as it moves towards a conceptual exploration target followed by an initial resource estimate at Side Well.

Cashed-up for gold exploration drive

The company had built up its war chest to circa $9.1m at the end of March after raising $7m through a strongly backed placement.

This placement drew cornerstone support from high-quality domestic and offshore natural resource funds including Lion Selection Group (ASX:LSX) and Dutch-based Commodity Discovery Fund.

Lion founder and director Robin Widdup said that Great Boulder was working on an exciting gold find in a region with established infrastructure and processing facilities.

He added that the size of the Mulga Bill project could provide baseload feed if future exploration work succeeded.

Mulga Bill exploration

Diamond drilling carried out prior to work being stopped due to bad weather has been hugely interesting to the company with disseminated occurrences of visible gold observed in the recovered core.

This was noted in hole 22MBDD002, which was collared 125m west of RC hole 21MBRC034 that intersected a 6m zone grading 24.33 grams per tonne (g/t) gold from a depth of 132m.

RC drilling carried out in 2021 has also returned standout hits such as 1m at 97.97g/t gold from a depth of 117m in the central area while infill aircore drilling at the Loaded Dog area of the prospect returned intersections such as 3m at 6.69g/t gold.

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.