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After gold hit an all-time high of US$2417 per ounce last week, junior explorer Great Boulder Resources Ltd (ASX: GBR) has become the latest seeker of the precious metal to report impressive results from its prospects, in this case those within the Side Well gold project near Meekatharra.
High grade intersections were picked up through consolidating drilling at the Saltbush prospect, with the mineralisation being shallow and present over a strike length of around 300 metres.
Results at Saltbush included 3 metres at 6.96 grams per tonne from 91 metres, including 1 metre at 16.25grams per tonne from 91 metres; and 4 metres at 5.96 grams per tonne from 9 metres, and 6m at 2.37 grams per tonne from 19 metres.
Great Boulder is now set to test the northwest plunge of Saltbush’s mineralisation through a program of reverse circulation (RC) drilling.
At the same time, a first-pass program of aircore drilling at the North Ironbark prospect showed evidence of anomalous gold in numerous locations, providing the company with further guidance for later work in the area.
Great Boulder managing director, Andrew Paterson said results yielded at the two prospects had been pleasing, with indications from Saltbush in particular reflecting what had previously been found at Ironbark, where high-grade mineralisation had yielded an inferred resource of 71,000 ounces at 4.7 grams per tonne, as estimated in February 2023.
“Saltbush is continuing to grow, and after only a small number of holes in two phases of drilling we have defined high-grade gold over 300m of strike,” he said.
“We have sufficient confidence in this prospect to say it’s the first discovery in all our new targets along the Ironbark Corridor.
“Saltbush appears to be plunging towards the north, a hypothesis supported by the strong surface geochemistry trending towards the northwest: everything we’ve seen so far suggests this zone is an Ironbark analogue, with the mafic host unit within ultramafic country rock and the same geochemistry and alteration.”
“In addition to those results, our first-pass AC drilling on broad surface anomalism north of Ironbark has intersected gold grades up to 0.55 grams per tonne, with anomalous gold results in multiple locations.”
Great Boulder has been trading at 6.4c.
