Great Boulder Uncovers High-Grade Gold Zones and Advances Mining Approvals at Side Well
Great Boulder Resources has reported robust exploration results at its Side Well Gold Project, uncovering significant high-grade gold mineralisation and confirming excellent metallurgical recoveries. The company is advancing towards resource growth and mining approvals while progressing the divestment of its Whiteheads project.
- High-grade gold intersections at Mulga Bill and Mulga Bill North
- New gold zone discovered at Side Well South with promising drill results
- Metallurgical testing confirms up to 98.7% gold recovery with efficient processing
- Whiteheads project divestment underway, contingent on ASX listing of Great Western Gold
- Focus on expanding Side Well resource to 1 million ounces and progressing mining agreements
Strong Exploration Momentum at Side Well
Great Boulder Resources Limited (ASX: GBR) has delivered a compelling quarterly update for the period ending 31 December 2024, highlighting continued success in its exploration programs at the Side Well Gold Project near Meekatharra, Western Australia. The company drilled a total of 163 air-core (AC) and reverse circulation (RC) holes for over 13,000 metres during the quarter, building on a busy 2024 calendar year that saw nearly 47,000 metres drilled across multiple projects.
Notably, infill and extensional drilling at Mulga Bill and Mulga Bill North has yielded several high-grade gold intersections, including standout results such as 10 metres at 17.22 grams per tonne (g/t) gold from 112 metres, with a 3-metre interval grading an exceptional 54.33 g/t Au. These results reinforce the potential for resource growth within the existing mineralised corridor.
Discovery and Resource Expansion Potential
Exploration at Side Well South has uncovered a new zone of gold mineralisation, with AC drilling intersecting 23 metres at 0.94 g/t Au, including a higher-grade 3-metre section at 4.16 g/t Au. This discovery lies approximately 400 metres northeast of historic workings and opens a fresh target area for follow-up drilling in 2025. Meanwhile, extensional drilling at Saltbush has confirmed a northward plunge of the deposit, extending the known mineralisation and maintaining open strike potential.
At Mulga Bill North, drilling has refined the geological understanding by confirming the position of a dacitic volcaniclastics unit, a key host for high-grade quartz vein mineralisation. This geological insight is expected to sharpen targeting and enhance the efficiency of future drilling campaigns.
Metallurgical Testing Validates Processing Prospects
Complementing the drilling success, metallurgical test work conducted by Independent Metallurgical Operations Pty Ltd (IMO) on composite samples from Mulga Bill has demonstrated excellent gold recoveries of up to 98.7%. The tests showed rapid leach times, high gravity recoveries, and moderate cyanide consumption, indicating that the ore is amenable to standard cyanide leach processing. This bodes well for potential future mining operations, as it suggests compatibility with existing processing infrastructure in the Meekatharra region.
Strategic Divestment and Corporate Developments
In a strategic move, Great Boulder announced the sale of its Whiteheads Gold Project to Great Western Gold Pty Ltd, a Perth-based explorer. The transaction is contingent upon GWG successfully listing on the ASX, anticipated in the first half of 2025. The deal includes upfront equity and cash reimbursements, along with deferred performance rights tied to resource milestones, providing potential future upside for Great Boulder.
On the corporate front, Great Boulder ended the quarter with a healthy cash balance of A$5.28 million and no debt, underpinning its capacity to fund ongoing exploration and development activities. The company is also initiating negotiations for a mining agreement with the Yugunga Nya Prescribed Body Corporate, a critical step towards securing mining leases over key deposits at Side Well.
Looking Ahead
Great Boulder’s near-term objective is to grow the Side Well Mineral Resource to one million ounces, with a longer-term target of 1.5 million ounces. The combination of high-grade drill results, positive metallurgical outcomes, and advancing permitting efforts marks a pivotal phase in the company’s evolution from exploration towards development readiness. Investors will be watching closely as drilling continues and the Whiteheads divestment progresses.
Bottom Line?
Great Boulder is poised to transform its Side Well project with resource growth and development milestones in sight.
Questions in the middle?
- How will the ongoing drilling at Side Well South impact the overall resource estimate?
- What are the timelines and key terms expected for the mining agreement with the Yugunga Nya group?
- How might the completion of the Whiteheads divestment influence Great Boulder’s capital allocation and exploration focus?
