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- Nickel explorer Estrella Resources (ESR) could have its sights set on gold following a major discovery at a neighbouring gold play
- Great Boulder Resources (GBR) released the final assays from a drill program at a prospect within its Whiteheads gold project near Kalgoorlie on Tuesday, uncovering a large-scale gold finding
- Interestingly, the project sits just four kilometres south of ESR’s own Carr Boyd tenements, which are also thought to lie along a highly prospective, 20-kilometre-long mineralised gold trend
- While Estrella says nickel and copper exploration remains its number one priority, these latest findings are enough for the company to assess Carr Boyd’s gold potential
- ESR shares jumped 3.51 per cent into the green to 5.9 cents early in Thursday’s session, while Great Boulder traded steady at 11 cents per share
Estrella Resources (ESR) has updated the market on the prospectivity of its Carr Boyd assets in the wake of Great Boulder Resources’ (GBR) major gold discovery.
On Tuesday, Great Boulder confirmed a large-scale gold find at its Blue Poles prospect, which forms part of the Whiteheads gold play, just north of Kalgoorlie in WA.
That announcement delivered leads from the remaining holes explored under the company’s 21-hole reverse circulation drilling campaign at the prospect.
Essentially, Tuesday’s results confirmed Blue Poles’ strike and dip and also noted gold mineralisation remained open at depth and along the Arsenal trend to the north.
Notably, the Arsenal trend passes through Estrella’s own landholding. ESR’s Carr Boyd tenements neighbour Blue Poles, which lies only four kilometres to the south.
While ESR is predominantly focussed on nickel and copper exploration, the findings have prompted the company to assess the gold prospectivity of its Carr Boyd assets.
“The company will keep a watching brief on developments at GBR’s Whiteheads Project whilst progressing our own gold prospectivity to a drill-ready status,” ESR commented in a market announcement on Thursday.
Interestingly, another significant gold trend has also been mapped through Estrella Resources’ tenements. The Whiteheads trend hosts GBR’s Seven Leaders prospect, which lies on ESR’s tenement boundary.
With Great Boulder reporting significant gold grades and widths at both Blue Poles and Seven Leaders, Estrella believes the corresponding gold trends could host potential for its own business.
ESR shares jumped 3.51 per cent into the green to 5.9 cents early in Thursday’s session, while Great Boulder traded steady at 11 cents per share at 10:25 am AEST.
