Ironbark’s Southern Extension Remains Open, Raising Questions on Resource Size

• RC drilling at Ironbark intersected 8m at 9.07g/t Au including 5m at 13.84g/t Au
• Mineralisation remains open to the south, with potential plunge beneath upcoming AC drill fences
• Follow-up drilling planned before resource estimate update
• Ongoing RC drilling at Side Well South following earlier gold discoveries
• Ironbark scoping study on track for completion this quarter

Strong Drill Results Extend Ironbark Mineralisation

Great Boulder Resources (ASX:GBR) has unveiled compelling new drill results from its flagship Side Well Gold Project in Western Australia, highlighting the continued expansion of the Ironbark deposit. Recent reverse circulation (RC) drilling at the southern end of the Ironbark 60m gold south deposit intersected high-grade gold mineralisation, including an 8-metre interval grading 9.07 grams per tonne (g/t) gold, with a standout 5 metres at 13.84 g/t Au. These results confirm that the mineralised zone remains open to the south, suggesting further potential beyond the current resource boundary.

Implications for Resource Growth and Exploration Strategy

The new intersections were encountered at relatively shallow depths around 113 metres, hosted within ultramafic rocks adjacent to a basalt contact. This geological setting supports a southerly plunge hypothesis for the mineralisation, which could extend beneath the next fence of aircore (AC) drill holes located 170 metres away. Great Boulder is actively planning follow-up drilling to test this southern extension, aiming to better define the extent of the high-grade zone before updating the Mineral Resource Estimate (MRE).

Broader Project Progress and Ongoing Drilling

Alongside Ironbark, RC drilling continues at Side Well South, where earlier AC drilling earlier this year revealed encouraging gold intercepts, such as 34 metres at 1.25 g/t Au including 8 metres at 3.16 g/t Au. These results reinforce the prospectivity of the Side Well project area, which currently hosts a combined Mineral Resource Estimate of 668,000 ounces of gold at an average grade of 2.8 g/t. The company’s scoping study for Ironbark remains on track for completion within the current quarter, providing a critical milestone for advancing the project towards development.

Technical and Geological Context

The Side Well project lies within the Meekatharra-Wydgee Greenstone Belt, a prolific gold province in Western Australia. The Ironbark deposit is characterised by steeply dipping mineralisation within metamorphosed mafic to ultramafic rocks, often concealed beneath thick alluvial cover. Great Boulder’s systematic drilling approach, combining AC and RC techniques, has been instrumental in delineating high-grade zones and refining geological models. The recent results underscore the value of targeted RC drilling to follow up on broad AC anomalies and confirm high-grade continuity.

Outlook and Market Positioning

Great Boulder’s Managing Director Andrew Paterson expressed optimism about the drilling campaign, noting the potential for further growth along strike and at depth. The company’s strong technical team and ongoing exploration momentum position it well to unlock additional value from the Side Well project. Investors will be watching closely for assay results from the 19 recently completed AC holes at Eaglehawk and the finalisation of the Ironbark scoping study, both expected shortly.

Bottom Line?

Great Boulder’s latest drill success at Ironbark sets the stage for a potentially significant resource upgrade, keeping the market’s attention firmly on its evolving gold story.

Questions in the middle?

• Will follow-up drilling confirm the southerly plunge and extend the high-grade zone further?
• How will the upcoming resource update impact the project’s valuation and development plans?
• What insights will the Ironbark scoping study reveal about the economic potential of the deposit?