Great Southern’s Golden Boulder story grows as drilling uncovers more high-grade gold

Golden Boulder Produces High-Grade Intercepts

Great Southern Mining Limited (ASX:GSN) has strengthened the exploration case for its Golden Boulder prospect, with one drill hole returning 4 metres at 11.38 grams per tonne gold from 45 metres, including 1 metre at 29.71 g/t. Other standout results included 10 metres at 2.62 g/t from 20 metres, including 2 metres at 10.72 g/t, and 9 metres at 3.36 g/t from 127 metres, including 4 metres at 6.77 g/t.

The results cover the northern 1.1 kilometres of a mineralised strike that extends for about 3.5 kilometres. Great Southern said 34 of the first 38 holes recorded mineralised intercepts above 0.7 g/t gold, while drilling extended known mineralisation by up to 50 metres down dip and identified high-grade zones in previously undrilled sections. The company described Golden Boulder as having the hallmarks of a large, high-grade discovery, though that remains an exploration interpretation rather than a defined resource.

The latest results build on the first Golden Boulder RC results, which included a 2-metre interval grading 10.72 g/t gold. Great Southern plans to complete its current 14,000-metre Golden Boulder program by mid to late October and immediately move into further step-out drilling. Assays remain outstanding for 3,425 metres across 39 holes.

Amy Clarke and Mon Ami Add More Drilling Targets

Golden Boulder is not the only Western Australian target carrying the quarter. Great Southern completed 2,248 metres of RC drilling across 18 holes at Amy Clarke, where earlier work has outlined shallow mineralisation over a 4.7-kilometre strike. Assays are expected by late October, leaving the next read-through dependent on whether the step-out holes extend the existing footprint.

At Mon Ami, drilling extended the main Vertical Lode by up to 60 metres down dip and 55 metres down plunge. The strongest result was 16 metres at 3.37 g/t gold from 178 metres, including 4 metres at 8.54 g/t and 2 metres at 6.86 g/t. A separate hole returned 19 metres at 1.12 g/t from 213 metres, opening a further target area between the Mon Ami resource and the Blanc Platt prospect.

Those results follow the Mon Ami resource extensions, which previously reported the same 16-metre, 3.37 g/t intercept and highlighted down-dip and down-plunge growth potential. Mon Ami has a stated JORC resource of 1.56 million tonnes at 1.11 g/t for 55,500 ounces of gold. Great Southern is planning follow-up drilling between the resource and Blanc Platt, as well as to the east of Blanc Platt and below the existing resource.

Mt Dillon Assays Will Test Queensland Target

In Queensland, Great Southern and Gold Fields completed maiden diamond drilling at the Mt Dillon target within the Edinburgh Park Project. Two holes reached a combined 1,534.9 metres, cutting broad alteration, disseminated pyrite and hydrothermal breccias beneath an interpreted lithocap and chargeability-resistivity anomalies.

The company said the geology is consistent with an intermediate-sulphuration epithermal system, but also cautioned that visual estimates of sulphide abundance are not a substitute for laboratory assays. First results are expected from late October to early November. Gold Fields can sole-fund up to A$15 million of exploration over six years to earn a 75% interest in the broader project.

Cash Falls as Exploration Spending Accelerates

The quarter’s exploration momentum came at a cost. Great Southern spent A$1.840 million on exploration and evaluation, alongside A$392,000 in operating cash outflows, leaving A$2.524 million in cash at 30 September, down from A$4.756 million three months earlier. The company also held 0.38 million Revolver Resources shares valued at about A$29,000.

Using the quarter’s A$2.232 million of relevant outgoings, the Appendix 5B calculated only 1.13 quarters of funding and required Great Southern to address its near-term funding position. The company said spending was unusually high because of the larger Western Australian drilling program, that outflows should not remain at the same level, and that it retains its full ASX Listing Rule 7.1 and 7.1A placement capacity. The tension is now straightforward: pending assays may improve the geological story, but sustaining the planned follow-up work will depend on how quickly exploration intensity moderates or fresh funding is secured.