- Great Boulder Resources (GBR) has begun the week in a trading halt while it inks out the details of a capital raise
- The company will remain in the halt until February 24 or when an announcement is made, whichever occurs first
- On February 18, Great Boulder discovered a 700-metre long gold mineralisation zone at the Blue Poles Prospect in Western Australia
- In November last year, the company undertook a maiden reverse circulation (RC) drilling program at the prospect to test for primary gold mineralisation
- As well as the gold mineralisation zone, up to 1.02g/t gold was intersected and Great Boulder will now follow-up the results
- The company has also begun an aircore drilling program Side Well Gold Project to target the Mulga Bill Prospect and define zones of gold mineralisation
- Shares in Great Boulder last traded at 4.3 cents on February 19
Great Boulder Resources (GBR) has begun the week in a trading halt while it inks out the details of a capital raise.
The company will remain in the halt until February 24 or when an announcement is made, whichever occurs first.
Great Boulder is yet to disclose how much it intends to raise or what it will use the funds for once received.
On February 18, Great Boulder discovered a 700-metre-long gold mineralisation zone at the Blue Poles Prospect in Western Australia.
In November last year, the company undertook a maiden reverse circulation (RC) drilling program at the prospect to test for primary gold mineralisation.
As well as the 700-metre long mineralised zone, a best result of 52 metres at 1.02g/t gold from 28 metres was also returned.
The company is now in the process of planning a second round of RC drilling to potentially extend these results.
Drilling is set to begin once gravity survey processing and target planning is completed.
Great Boulder has also begun an aircore drilling program at the Side Well Gold Project in Meekatharra to target the Mulga Bill prospect and define gold mineralisation zones.
Shares in Great Boulder last traded at 4.3 cents on February 19. The company has an $8.09 million market cap.