Great Boulder Hits High-Grade Gold at Peak Hill, Targeting Resource Growth

Strong Early Drilling Results Boost Resource Growth Prospects

Great Boulder Resources (ASX:GBR) is off to a flying start at its Peak Hill Gold Project in Western Australia, unveiling high-grade assays from its first round of drilling that support a major resource upgrade planned for late 2026. Assay highlights include 4m at 37.1g/t Au from 110m at Durack and 3m at 29.4g/t Au from 39m at Jubilee, two of the project’s key deposits within the existing 481,000-ounce resource.

The results confirm the interpreted geometry of mineralisation within potential open pit zones, with many intersections exceeding expectations for grade and continuity. Notably, gold was intersected in the Jubilee dolerite unit, previously considered barren, which could add new resource ounces and improve mining economics by reducing strip ratios.

Aggressive Drilling Campaign Accelerates Resource Definition

The company has deployed three rigs on site, advancing a 40,000-metre drilling program that commenced in mid-July. Two reverse circulation (RC) rigs have completed over 120 holes ahead of schedule, moving through infill and extension drilling at Jubilee, Durack, Enigma, and Five Ways deposits. Meanwhile, a diamond rig is focused on structural and assay data collection at Durack.

Drilling at Golden Treasure, adjacent to Jubilee, is also underway with assay results expected imminently. This area has seen high-grade intersections from Westgold Resources, Great Boulder’s partner under an ore purchase agreement that provides a capital-light pathway to production and cashflow.

Resource Growth Supported by Multiple Deposits and New Targets

Durack, with a current resource of 2.89 million tonnes at 1.2g/t for 112,000 ounces, delivered standout intercepts such as 23m at 2.22g/t Au from surface and 10m at 6.40g/t from 116m. Jubilee’s 470,000-tonne resource at 2.3g/t for 35,000 ounces was also bolstered by several high-grade zones including 2m at 33.6g/t Au within the dolerite.

Further drilling is planned through 2026 at Harmony, Golden Treasure, and Mt Pleasant, expanding beyond current resources. The company’s Managing Director Andrew Paterson emphasised the exceptional grades and the potential to substantially increase the resource by Christmas, underlining the rapid progress and strong pipeline of results.

Strategic Partnership and Production Pathway

Great Boulder’s ore purchase agreement with Westgold Resources (ASX:WGX) provides a low-capital route to production and cashflow, leveraging Westgold’s existing processing infrastructure. This arrangement complements Great Boulder’s aggressive resource growth strategy and positions Peak Hill for near-term development alongside its flagship Side Well project.