Great Boulder Resources (ASX:GBR) targeting a million ounces in resource by end of next year

The 2^nd annual Super PITch event at Digger & Dealers in Kalgoorlie provides mining companies five minutes to ‘pitch’ their company’s story to investors. 

Created by Discovery Capital Partners and Corporate Storytime, this year’s event is sponsored by The Market Herald and RSM Australia

Sonia Madigan:

We’re from the floor at Kalgoorlie’s Super PITch event today, and Andrew Patterson joins me from Great Boulder Resources (GBR), and we’ve had a lot of news over just the last two days.

Andrew Patterson:

Yeah, that’s right.

An announcement yesterday about a tenement acquisition, expanding our Side Well project by five kilometres, and some drill results this morning, which are looking really nice as well.

Sonia Madigan: 

Tell us about those drill results. This is for gold?

Andrew Patterson:

Yeah – so it’s part of our Mulga Bill deposit and it’s an area that’s been long overlooked to the north of Mulga Bill, so unimaginatively titled Mulga Bill North.

But [it’s] now looking like a 700-metre zone of gold mineralisation, [and] there’s a little bit of copper in that as well, so it’s very similar to the main Mulgabil style and open along strike.

These are some of our highest-rated air core results that we’ve had to date.

Sonia Madigan:

Now of course you have a maiden resource of some half a million ounces of gold. So how much do you need to build that in order to have a feasible project here?

Andrew Patterson:

That’s a very good question and there’s no exact answer, but our target is to get a million ounces in resource by the end of next year.

But before that, we’ll do a resource update this year, which will change a lot of that inferred material to indicated.

So, firstly: upgrade our existing resource, and then get out onto the new targets and find the next half a million ounces.

Sonia Madigan: 

Alright, so I’m going to give you one minute to pitch your company to this audience.

Andrew Patterson:

Yeah, so Great Boulder is a small company, we’re capped at about $36 million, half a million ounces in resource, half a million ounces in our target pipeline.

So I think by the end of next year we’ll have a million ounces, and it’s a 10 minutes drive from Meekatharra.

So we’ve got Westgold on our western boundary and we’re in an absolutely fantastic location for a company of our size.

Sonia Madigan: 

Now the share price is 7.4 cents today. How do you view that?

Andrew Patterson: 

Cheap.