Great Boulder Resources Increases Side Well Mineral Resource
THE DRILL SERGEANT: Great Boulder Resources (ASX: GBR) released an updated Mineral Resource Estimate (MRE) for the company’s Side Well gold project near Meekatharra in Western Australia.
Great Boulder Resources reported the MRE to have substantially increased for the Mulga Bill and Ironbark deposits at Side Well, upping the total resource by 29 per cent, coming in at 1.45 million tonnes at 2.8 grams per tonne gold for 668,000 ounces of gold.
The MRE ross the Mulga Bill and Ironbark deposits that have been estimated at 6.5Mt at 2.7g/ gold for 568,000 ounces and 938,000 tonnes at 3.3g/t gold for 100,000 ounces respectively.
Mulga Bill North, where Great Boulder has had some drilling success of late, has not been included in this resource estimate.
The company noted that despite recent success at the 700m-long prospect there is still insufficient drilling to define an Inferred mineral resource, although it remains a target for ongoing drilling and subsequent resource estimation during 2024.
“This is an important step for Great Boulder, with a significant increase in contained ounces at Mulga Bill and Ironbark as well as the conversion of a large proportion of both deposits from the Inferred to Indicated JORC category,” Great Boulder Resources managing director Andrew Paterson said in the company’s ASX announcement.
“That means both deposits are defined with sufficient confidence to commence economic studies once the current inflationary cycle peaks and we can confidently predict future cost inputs.
“All our infill drilling at Mulga Bill this year has confirmed the geological model we used for the initial resource, which reflects the excellent technical work involved in understanding this exceptional orebody.
“Side Well sets itself apart as a shallow, high-grade greenfields deposit on the outskirts of an historic, operating gold field, which is almost unprecedented in the junior gold sector.
“We are now looking forward to commencing the first exploration on new targets within the Ironbark Corridor, starting with Saltbush.
“This is another important step towards our goal of defining the first of what could be several million ounces of gold in resource at Side Well.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE