Great Boulder Resources (ASX:GBR) has extended drilling at its Ironbark deposit in Western Australia by at least 180 metres, following positive results from its latest testing program. This expansion adds to the gold endowment within the project. Great Boulder Resources is a mineral explorer focused on gold and base metals discoveries in Western Australia. The Ironbark deposit is part of the broader Side Well Gold Project which hosts a resource estimate of 668,000 ounces at 2.8 grams per tonne gold.
The extension encompasses known mineralisation south of the existing resource, which stands at 100,000 ounces at 3.3 grams per tonne gold. The mineralisation remains open along strike and at depth, offering the company significant potential to materially increase the resource. Recent drill results include 6 metres at 8.53g/t gold from 111 metres, including 1 metre at 24.90g/t gold from 115 metres, and 5 metres at 8.91g/t gold from 57 metres, including 1 metre at 39.5g/t gold from 60 metres.
In conjunction with the drilling program, mine development work is progressing. Environmental studies, including hydrogeological assessments and waste characterisation, are currently underway. Great Boulder, with a market capitalisation of $56.12 million, anticipates that this work will facilitate the lodgement of mining approval documentation for Ironbark. Managing Director Andrew Paterson noted that Ironbark continues to grow, with drilling intersecting remarkably consistent thicknesses and grades between 7 to 9g/t gold.
Further design work and planning are being conducted to provide optimal site layouts, and additional reverse circulation drilling is being planned. Paterson added that the company will be updating the mineral resource for Ironbark once the full extent of mineralisation has been defined, potentially improving the economics for a mining operation.
