- Great Boulder Resources’ (GBR) second round of reverse circulation drilling reveals further high-grade gold at the Ironbark discovery
- This follows an initial RC program in June, which also returned high-grade gold at the Ironbark, which sits within GBR’s Side Well project near Meekatharra in WA
- Only four of 13 assays have been received from phase two, with the next steps to be confirmed once results have been received
- GBR shares are up 4.4 per cent, trading at 9.4 cents at 12:49pm AEST
A second round of reverse circulation drilling at Great Boulder Resources’ (GBR) Ironbark discovery has shown promising initial results.
The company received results for the first four of 13 assays, which displayed high-grade gold at shallow depths.
This second phase of drilling at Ironbark, within GBR’s Side Well project near Meekatharra in WA, follows a maiden reverse circulation (RC) program in June, which also intercepted high-grade gold.
Notable results from this second drill include 32 metres at 2.48 grams of gold per tonne (g/t), including 20 metres at 3.19 g/t from 24 metres in one hole.
Results also included 17m at 5.81 g/t from 120m, including 6m at 7.38 g/t from 120m and 6m at 8.76 g/t from 131m.
Assays for one metre re-split samples from the first phase of drilling have also now been received, which GBR says refines – and in some cases upgrades – previously reported intersections.
A previous report of 20m at 3.05 g/t gold from 120m has now been upgraded to 12m at 10.24 g/t gold from 120m, including 4m at 25.9 g/t gold from 120m and 1m at 11.8 g/t gold from 138m.
Results from the remaining nine assays are expected in the coming weeks, and a program of works approval has been lodged for a third round of RC drilling at Ironbark.
A parcel of mineralised material from the most recent reverse circulation drilling has been sent to a lab in Perth to test its metallurgical characteristics, with results expected within two months.
Once results from all the phase two assays have been received, the company will decide how to proceed at Side Well, and potentially accelerate drilling at Ironbark to push for a maiden Mineral Resource Estimate in the medium term.
GBR shares were up 4.4 per cent, trading at 9.4 cents at 12:49pm AEST.