Join our daily newsletter At The Bell to receive exclusive market insights
Great Boulder Resources (ASX:GBR) has reported its recent 13 drillhole aircore campaign has confirmed gold mineralisation across 400m of strike at Mulga Bill North.
The company reported the following batch of data on Tuesday:
- 17m @ 1.4g/t gold from 49m depth
- 14m @ 1.75g/t gold from 70m depth
- 13m @ 2g/t gold from 136m depth
- 5m @ 3g/t gold from 140m depth
These results will go towards upgrading a mineral resource estimate (MRE) already in place for Mulga with another target called Saltbush to be investigated further down the line.
Back at Mulga, RC and diamond tipped drill rigs continue to sniff away at targets on-site. The updated MRE is expected before the 2025 calendar year.
Few were the HotCopper users commenting on the announcement pre-market trades on Tuesday but if the results are enough to impress the market broadly, those commenters didn’t think so.
Still, management was more interested in the upcoming resource upgrade.
“These new intersections fit our previous interpretation, with multiple lodes similar to Mulga Bill and good strike continuity,” GBR MD Andrew Paterson said.
“We have mineralisation over a 400m extent along strike, with only a small amount of additional drilling required to bring this area into resource.
“There are still five holes remaining in the program which we couldn’t complete at the time due to wet weather.”
The 2,040m aircore campaign was drilled along a 400m stretch “between 950 [metres] and 1,350m north of Mulga Bill.”
GBR last traded at 4.7cps.
