High-Grade Gold Found at Mulga Bill Prospect
Great Boulder Resources (ASX: GBR) has announced a remarkable find of high-grade gold at the Mulga Bill prospect, part of its Side Well project in Western Australia. The company’s recent drilling efforts have uncovered exceptionally high-grade gold mineralisation, with several assays presenting impressive results.
These results feature intercepts including 6m at 24.3g/t gold from a depth of 130m, and 4m at 18.7g/t gold from 150m depth, underscoring the potential for further resource growth. The high-grade characteristics of these results are particularly promising, indicating a robust mineralised system is present at Mulga Bill.
The discovery resides within an inadequately defined region surrounding known high-grade vein deposits, which had not previously been explored extensively. This new information not only asserts the continuity of gold mineralisation but also unveils additional targets for upcoming exploration.
Investors are closely monitoring GBR’s developments, as the Mulga Bill prospect keeps showcasing its potential to yield considerable value. The company’s strategic emphasis on high-grade zones may significantly improve the overall economics of the Side Well project.
Resource Estimate Update Coming for Side Well Project
Great Boulder Resources is in preparation for an updated resource estimate for the Side Well project, which will likely include the latest high-grade findings from the Mulga Bill prospect. This update is set to be a crucial milestone for the company, aiming to offer a clearer picture of the project’s total potential.
The forthcoming resource estimate is expected to encompass not only the newly identified high-grade areas but also a reassessment of previously established zones. The data acquired from the recent drilling campaign could necessitate a significant upgrade in both resource size and grade, acting as a vital catalyst for GBR’s stock price.
Investors are especially interested in how the high-grade intercepts, like 6m at 24.3g/t and 4m at 18.7g/t, will influence the overall resource model. If these grades are consistent across a wider expanse, it could greatly enhance the project’s economic attractiveness, leading to a potential re-evaluation of the stock.
Moreover, the resource update is likely to shed more light on the extent of the mineralised system at Mulga Bill, which remains open along strike and at depth. This could facilitate additional exploration initiatives aimed at broadening the resource footprint and unlocking further value for shareholders.
With gold prices sustaining their strength and positive investor sentiment towards high-grade gold projects growing, the timing of this resource update could be profoundly beneficial for Great Boulder Resources. The market will keenly observe any indications of a substantial increase in the resource estimate, which could position GBR as a major player in the Western Australian gold industry.
