Great Boulder Resources has completed its acquisition of the Peak Hill Gold Project, adding a 481,000-ounce resource and setting a course for near-term production. Concurrently, drilling at its Side Well project continues to expand a million-ounce resource, supported by a strong cash position and strategic partnerships.
- Acquisition of Peak Hill adds 9.4Mt at 1.6g/t Au for 481,000 ounces
- 40,000m drilling campaign underway to expand Peak Hill resource
- Side Well resource exceeds 1 million ounces with ongoing high-grade drilling
- Ore Purchase Agreement enables capital-light production at Peak Hill
- Strong cash balance of A$18.3 million post $40 million equity raise
Peak Hill Acquisition Positions Great Boulder for Near-Term Production
Great Boulder Resources Ltd (ASX:GBR) has taken a significant stride towards becoming a gold producer with the completion of its acquisition of the Peak Hill Gold Project from Westgold Resources. The deal, finalised on 30 June 2026, brings a substantial resource of 9.4 million tonnes at 1.6 grams per tonne gold, equating to 481,000 ounces, mostly on granted mining leases.
Westgold has become a cornerstone shareholder with a 19.9% stake and will support Great Boulder through an Ore Purchase Agreement (OPA) that grants access to processing capacity at one of Westgold’s regional mills. This arrangement sidesteps the capital-intensive and lengthy approval process typically required for a new processing facility, enabling a faster, capital-light path to production at Peak Hill.
Aggressive Drilling Campaigns Target Resource Growth
Great Boulder has launched a 40,000-metre drilling program at Peak Hill, targeting five key deposits including the historically high-grade Golden Treasure area. The campaign, which began in mid-July, aims to infill and extend the resource, with an updated resource estimate expected by the end of 2026. Complementing this, a diamond rig will provide critical core samples for metallurgical and geotechnical studies.
Meanwhile, drilling at the company’s flagship Side Well Gold Project continues to deliver promising results. The project boasts a resource of 16 million tonnes at 2.0 grams per tonne gold, totalling just over 1.02 million ounces. Recent drilling has extended mineralisation over a 2.5-kilometre strike length between the Mulga Bill and Eaglehawk deposits, with high-grade assays including 21 metres at 7.24 g/t and 0.45 metres at 165 g/t gold.
Ongoing work at Side Well focuses on increasing the resource beyond 1.5 million ounces while progressing towards development. The company is also advancing a Mining Agreement for the Ironbark deposit, which is expected to become a second production hub alongside Side Well.
Strong Financial Position Supports Development Plans
Great Boulder enters this growth phase well funded, with a cash balance of A$18.3 million at quarter end. This follows a $40 million two-tranche placement completed during the quarter, which underpinned the Peak Hill acquisition and drilling programs. Exploration expenditure during the quarter was $5.09 million, reflecting the company’s aggressive field activities.
Looking ahead, Great Boulder plans to commence prefeasibility and mining studies at Peak Hill in early 2027, alongside environmental and hydrogeological assessments. The company aims to start production by the end of 2027, leveraging its Mining and Heritage Agreement with the Jidi Jidi Aboriginal Corporation to ensure community engagement and regulatory compliance.
With two complementary gold projects located just 100 kilometres apart in the Murchison goldfield of Western Australia, Great Boulder is positioning itself as a near-term gold producer with a clear pathway to resource growth and operational development.
Bottom Line?
Great Boulder’s Peak Hill acquisition and ongoing drilling at Side Well set the stage for production by late 2027, but resource upgrades and regulatory approvals remain key milestones to watch.
Questions in the middle?
- How will the upcoming Peak Hill resource update influence Great Boulder’s production timeline?
- What impact will the Ore Purchase Agreement have on capital expenditure and operational flexibility?
- Can drilling at Side Well and Ironbark sustain resource growth to support multiple production hubs?