Great Boulder’s 39.9g/t hit reshapes Peak Hill’s resource potential

Golden Treasure delivers Peak Hill’s strongest intersection

Great Boulder Resources (ASX:GBR) has produced its best drilling result across the Peak Hill Gold Project, returning 8 metres at 39.9g/t gold from 58 metres at Golden Treasure. The intersection is also the strongest result by grams-metres ever reported at Golden Treasure, according to the company.

“Oblique section through Golden Treasure”

“Recent highlights from the Jubilee – Golden Treasure area.”

Caption and image © Great Boulder Resources Limited. From “Stellar grades at Peak Hill point to further resource upside”, 9 Nov 2026.

The result sits between Golden Treasure and Jubilee, where Great Boulder has been testing whether mineralisation continues across the two areas. Additional intersections, including 16 metres at 6.36g/t from 48 metres and 6 metres at 9.04g/t from 93 metres, support the company’s interpretation that the deposits are structurally connected. Great Boulder now intends to model Golden Treasure and Jubilee as a single resource. The earlier Peak Hill drilling campaign had targeted resource growth ahead of an update expected by the end of 2026.

Untested Golden Treasure adds resource upside

Golden Treasure has not previously carried its own mineral resource estimate. That makes the current 481,000-ounce Peak Hill inventory a starting point rather than a ceiling, although the size of any increase remains unquantified and depends on further drilling, geological modelling and estimation.

Great Boulder Managing Director Andrew Paterson described the assays as “sensational” and said the company expected to see more high-grade shoots as drilling continued. The filing’s technical data is more measured: intersections are reported downhole, and the announcement notes that mineralisation widths may differ from the reported intercept lengths.

Durack results extend shallow high-grade potential

“A projected long section through Durack showing high-grade plunges, with untested potential for additional discoveries between the two clusters of drilling.”

Durack added a second strand to the resource-growth case. Drilling about 400 metres southwest of the central resource area returned 11 metres at 6.36g/t gold from surface, on the edge of previous drilling and the Durack resource margin.

“At Durack, high-grade mineralisation has been drilled over ~1.5km.”

The company says shallow mineralisation could be relevant to a future truck-and-shovel operation because it may offer access to higher-grade tonnes early in a mine sequence. Further drilling about 1.5 kilometres northwest along strike also returned high-grade mineralisation, including 4 metres at 4.76g/t from 30 metres. Great Boulder says Durack spans more than 1.5 kilometres of strike and remains under-explored.

Enigma and Mt Pleasant keep the drilling pipeline full

At Enigma, infill drilling returned 7 metres at 6.34g/t gold from 36 metres and 3 metres at 6.44g/t from 51 metres. The deposit is about 800 metres long and remains open along strike, particularly to the southwest, where historic drilling has identified gold over a further 2 kilometres.

“Recent highlights from Enigma, with the Harmony pit visible to the west.”

“Priority targets within the Peak Hill Gold Project.”

Caption and image © Great Boulder Resources Limited. From “Stellar grades at Peak Hill point to further resource upside”, 9 Nov 2026.

Drilling is continuing, with Mt Pleasant next in line for intensive reverse-circulation work after a diamond hole was completed in October to confirm vein orientations. Great Boulder has also pointed to an ore purchase agreement with its largest shareholder, Westgold Resources (ASX:WGX), as a potential low-capital route to production and cash flow. The filing does not provide the agreement’s commercial terms or establish that a production decision has been made.