Great Boulder Resources (ASX: GBR) has intersected shallow gold mineralization in recent RC drilling at the Side Well Gold Project near Meekatharra in Western Australia.
Assay results have now been received for the final six RC holes targeting gold mineralisation at the newly discovered Cervelo target, located immediately east of Mulga Bill. These are the final results from the Phase 2 RC drilling programme at Side Well.
“These six holes were targeting extensional mineralization identified in our recent AC programme as announced on April 27. We were looking for near-surface extensions of high-grade veins intersected at depth within the Mulga Bill HGV Zone,” Managing Director, Andrew Paterson, said.
“Significantly, the intersection of 4m @5.53g/t Au from 18m on hole 23MBRC038 is our shallowest high-grade result at Mulga Bill since we started drilling in August 2020. This new zone of mineralisation lies outside the current mineral resource. Shallow mineralization is particularly important in any potential mining scenario, as any near-surface ounces can provide early cashflow while pushing towards the bonanza grades deeper down.
“While the holes further east didn’t intersect the same tenor of grade as we see in the HGV Zone, they have confirmed a broad mineralized corridor which was first identified in the AC drilling. We will continue testing this target with more RC holes in the next programme.
“Now that the diamond programme is complete, we’ll finish logging and processing the core, then regroup in Perth for some mid-year training with the team before starting the next drilling programs in July.”
Six RC holes were drilled in the Cervelo area immediately east of the Mulga Bill HGV Zone, testing positions down-dip from anomalous intersections, as announced in late April. Cervelo is a large target area which remains largely untested by RC drilling.
Hole 23MBRC038 (4m @5.38g/t Au from 18m) has intersected a new zone of gold mineralization very close to surface and above the current 518koz Mineral Resource. The mineralized orientation remains unclear. The deeper part of this hole did not intersect west-dipping high-grade veins, and the shallow AC intersections further east may represent other subvertical lodes not previously identified. A diamond hole has since been completed on the same northing and assays will be released when available.
Hole 23MBRC034 (6m @4.64g/t Au from 148m) at the southern edge of the HGV Zone also intersected new gold mineralization outside the current Mineral Resource. This mineralization may be part of a newly interpreted subvertical lode linking the Central Area with the Cervelo and Stella Lodes in the HGV Zone to the north. Further drilling is required in this area to better define the orientation and extent of this mineralization.
Hole 23MBRC033, 035 and 037 intersected multiple occurrences of lower-grade mineralization, including 4m @3.24g/t Au from 153m and 8m @2.10g/t Au from 178m in 23MBRC035. Further RC drilling is required to adequately test this area.
Side Well Phase 1 Diamond Drilling
Five holes were completed in the recent round of diamond drilling, with three holes completed at Ironbark and two at Mulga Bill. Core cutting and sampling is underway, and results will be provided as soon as assays are available.
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