Meatloaf once said “two out of three ain’t bad” but in the case of Great Boulder Resources’ Ironbark prospect, two out of three is looking very good indeed.

That’s because the search for riches at the Side Well gold project where Ironbark is based is continuing to pay off for Great Boulder (ASX:GBR), with two of the first three RC holes into the target hitting high-grade gold.

Highlights from the seven-hole drilling campaign, with assays for four holes still to come back from the lab, include a hit of 22m at 2.47g/t from just 38m deep in hole 22IBRC005 and 14m at 4.25g/t from 104m in 22IBRC007.

Those intersections host narrower intervals at higher grades of 4m at 6.68g/t from 39m and 8m at 5.96g/t from 108m, respectively.

Hole 22IBRC007 returned an additional intersection of 2m at 1.33g/t from 128m.


Great Boulder (ASX:GBR)
High grade intersections at Ironbark have demonstrated the quality of the Side Well project. Pic: Great Boulder Resources

A golden find

Those results adds another layer to the Side Well project near Meekatharra, where Great Boulder recently announced additional high grade intercepts from the emerging Mulga Bill prospect.

“This is a great result for our first RC program at Ironbark. In contrast to Mulga Bill, Ironbark is not concealed beneath alluvial cover and we were able to make this discovery last year using auger soil sampling followed by air-core drilling,” Great Boulder MD Andrew Paterson said.

Is there going to be more drilling? You betcha, with Paterson noting the wide spacing of the drilling to date and the potential to extend that beyond the southern 22IBRC007 hole.

“We now have high grades in two of the first three RC holes, with broad down-hole intervals at relatively shallow depths,” he said.

“Hole 22IBRC007 is the southernmost hole drilled so there is definitely scope to extend this further south. Our drilling to date is on lines 100m apart, and these two intersections are 300m apart so there is significant strike potential.”

Geological logging of RC rock chips shows there is a zone of deep weathering north-northeast through Ironbark, suggesting along with multi-element geochemistry that it sits within a structurally controlled orogenic system.

Great Boulder thinks the gold is likely to relate to primary mineralisation at depth.

While more assays are on the way, additional drilling is already slated to take place in an upcoming program at the end of June.



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.