Great Boulder Resources’ Mulga Bill and Ironbark deposits see notable resource growth

Great Boulder Resources (ASX:GBR) has announced a significant increase in the Mineral Resource Estimate (MRE) for its Side Well Gold Project near Meekatharra, Western Australia. The total resource has expanded by 29% to 668,000 ounces of gold at an average grade of 2.8 g/t Au.

Key Developments:

  • Substantial Growth: The MRE for Mulga Bill and Ironbark deposits at Side Well has been considerably augmented.
  • Resource Breakdown: The combined resources now stand at 7,450,000 tonnes with Mulga Bill contributing 568,000 ounces and Ironbark adding 100,000 ounces.
  • Higher-Grade Core: The global resource includes a higher-grade core of 496,000 ounces at 5.3 g/t Au.
  • Shallow Resources: Resources are delineated from approximately 10m to 300m depth at Mulga Bill and surface to 150m at Ironbark, with 68% of the resource ounces having open pit mining potential.
  • Resource Enhancement: Additions at Mulga Bill include extensions to the high-grade Cervelo lodes and new mineralization linking the HGV and Central Zones.
  • Potential Extensions: Mulga Bill North shows promise as a significant northern extension with mineralization defined over 700m of strike.
  • Strategic Location: Side Well is advantageously positioned near multiple resources, mines, and processing infrastructure.
  • Ongoing Exploration: Great Boulder aims to delineate a significant gold camp at Side Well with an extensive exploration prospect pipeline.

Great Boulder’s Managing Director, Andrew Paterson, expressed optimism about the project:

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. 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.

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