Side Well South Drilling Yields 3m at 4.16g/t Gold in Latest AC Program

New Discovery at Side Well South

Great Boulder Resources Limited (ASX: GBR) has revealed a significant new gold discovery at its flagship Side Well Gold Project near Meekatharra, Western Australia. The latest aircore (AC) drilling campaign at Side Well South has intersected high-grade gold mineralisation hosted within basalt, consistent with the Ironbark-style deposit model the company has been targeting.

The standout intersections include 3 metres at 4.16 grams per tonne (g/t) gold from 89 metres depth within a broader 23-metre interval averaging 0.94 g/t Au in hole 24SWAC337. Nearby hole 24SWAC336 also returned encouraging results with 4 metres at 0.66 g/t Au from 8 metres and 1 metre at 0.84 g/t Au from 59 metres.

Strategic Location and Geological Context

This new mineralised zone lies approximately 400 metres northeast of the historic Golden Bracelet mine workings, suggesting an extension or a parallel lode system. Historical drilling in the area was limited to shallow depths around 39 metres, likely missing deeper mineralisation now being uncovered by Great Boulder’s deeper AC drilling.

Geological logging indicates the mineralisation is hosted within mafic rocks surrounded by ultramafic units, a lithological setting that mirrors other successful discoveries in the region such as Ironbark and Saltbush. Magnetic and gravity data hint at a northeast-trending structural corridor that may link the new zone with Golden Bracelet, although further work is needed to confirm this structural interpretation.

Ongoing Drilling and Exploration Plans

Following the December drilling program, which completed 56 AC holes at Side Well South, Great Boulder has resumed drilling to test additional high-priority geochemical targets. With 107 AC holes still to be drilled in this campaign, the company expects to receive assay results through February and March 2025, which will provide a clearer picture of the extent and grade continuity of this new gold zone.

Managing Director Andrew Paterson highlighted the significance of the discovery, noting the timing aligns perfectly with the resumption of drilling. He emphasised the potential to extend the gold zone southwards towards Golden Bracelet, where surface gold anomalies continue for over a kilometre beyond the historic workings.

Resource Base and Regional Significance

The Side Well project already hosts a robust Mineral Resource Estimate of 668,000 ounces of gold at an average grade of 2.8 g/t Au, split between indicated and inferred categories. This new discovery could materially enhance the resource base, underpinning Great Boulder’s strategy to develop a significant, high-grade gold system in the Murchison goldfield.

Exploration at Side Well is complemented by Great Boulder’s broader portfolio of gold and base metal assets in Western Australia, including early-stage base metal exploration at the Wellington project. The company’s technical team is leveraging systematic and innovative exploration techniques to unlock value across its holdings.

Looking Ahead

With drilling ongoing and heritage surveys underway on recently acquired tenements, Great Boulder is well positioned to advance its exploration momentum. The coming months will be critical as assay results from the remaining holes are released, potentially confirming the scale and grade of this new mineralised zone and shaping the next phase of development at Side Well.