Mining Agreement Delays and Pending Resource Update Pose Risks for Great Boulder

High-Grade Gold Intersections Spark Optimism

Great Boulder Resources (ASX – GBR) has delivered a compelling update from its flagship Side Well Gold Project near Meekatharra, Western Australia. The company reported a spectacular 1 metre intercept grading 481 grams per tonne (g/t) gold at the Eaglehawk deposit, a standout result that highlights the project's potential for high-grade mineralisation. This intercept sits within a newly identified west-dipping quartz lode, suggesting promising structural complexity and resource upside.

Additional drilling at Eaglehawk has yielded further encouraging results, including 3 metres at 7.97 g/t gold, reinforcing the prospect’s growing significance. Meanwhile, the Mulga Bill East deposit has also delivered solid grades, with intercepts such as 5 metres at 5.82 g/t and 24 metres at 1.37 g/t gold, indicating continuity and potential for open-pit mining operations in the future.

Resource Estimation and Project Development Progress

Great Boulder is actively progressing resource estimations across five key deposits within the Side Well project, including Eaglehawk, Mulga Bill, Ironbark, Saltbush, and Golden Bracelet. The company anticipates releasing an updated, consolidated Mineral Resource Estimate (MRE) by the end of December 2025, which will provide a clearer picture of the project's scale and grade distribution.

Golden Bracelet, a deposit recently renamed from Side Well South, has also seen positive drilling results that support the company’s geological interpretations. These results are feeding into the initial resource estimate for the deposit, further expanding the project’s resource base.

Strategic Drilling and Government Support

Drilling activities continue at pace, with multiple rigs operating across the project. Notably, Great Boulder has secured up to $180,000 in co-funding from the Western Australian Government’s Exploration Incentive Scheme (EIS) to support deeper diamond drilling. This program targets high-grade mineralisation beneath the Mulga Bill and Ironbark deposits, aiming to demonstrate the potential for large-scale gold systems at depth.

Alongside resource growth drilling, the company is advancing infill and extensional drilling at priority targets such as Flagpole and Eaglehawk, aiming to enhance resource confidence and support future development plans.

Mining Agreement and Environmental Approvals

Negotiations for a mining agreement with the Yugunga Traditional Owner group at the Ironbark deposit are ongoing, with compensation and royalty clauses being finalized. This agreement is a critical prerequisite for mining lease grant and environmental approvals. Consultants’ reports supporting the mining approval application are nearing completion, with the company expecting to submit the application shortly.

These regulatory and community engagement milestones are essential steps toward unlocking the project’s value and advancing it toward production.

Outlook for Side Well Gold Project

Great Boulder’s Side Well project, strategically located in the prolific Murchison gold belt near established operations, continues to deliver consistent exploration success. The combination of high-grade drill results, ongoing resource estimation, and supportive government funding positions the company well for a busy and transformative end to 2025 and a strong start to 2026.

Managing Director Andrew Paterson expressed confidence in the project’s trajectory, highlighting the expanding resource base and the potential for new discoveries within the extensive tenement package.