Exploration update at Side Well Gold Project

Great Boulder Resources Limited (ASX:GBR) has announced the confirmation of high-grade gold mineralisation north of the current resource area at the Company's flagship Side Well Gold Project near Meekatharra in Western Australia. The reverse circulation (RC) drilling program, extending 250m north of Mulga Bill, has verified the presence of high-grade mineralisation, with the mineralised footprint now stretching over 2.3km. The program has yielded significant results, including 8m @ 10.84g/t Au from 135m, 6m @ 7.62g/t Au from 136m, and 8m @ 2.02g/t Au from 72m, among others. Two deep diamond holes have also been completed, with results expected in October. The RC drilling is ongoing, and an updated Side Well Mineral Resource Estimate (MRE) is anticipated in the second half of CY 2024.

Executive commentary on exploration results

Great Boulder's Managing Director, Andrew Paterson, expressed satisfaction with the RC drilling results, stating, 'RC drilling immediately north of Muga Bill has confirmed high-grade mineralisation extending 250m north of the current resource envelopes. This program comes on the back of high-grade hits announced in this area earlier in the year, including 16m @ 13.83g/t Au in hole 24MBRC001.' Paterson further added, 'The new results support our expectation that we will be able to extend and increase the Mulga Bill JORC resource estimate later this year.' He highlighted the potential of the combined Mulga Bill and Mulga Bill North, which extends over 2.3km of strike, indicating that the Company has only scratched the surface of the northern half of that zone with relatively shallow drilling. Paterson also outlined the future drilling plans, mentioning the RC rig's shift to resource definition targets at Mulga Bill and the upcoming first-pass AC program at Side Well South in late September.

Exploration update summary and outlook

The recent RC drilling program at Great Boulder Resources' Side Well Gold Project has successfully confirmed high-grade gold mineralisation extending 250m north of the current resource area, contributing to the expansion of the mineralised footprint to over 2.3km. The Company's Managing Director, Andrew Paterson, expressed confidence in the potential to extend and increase the Mulga Bill JORC resource estimate later in the year. With ongoing RC drilling and an updated Side Well MRE expected in the second half of CY 2024, Great Boulder Resources remains focused on infill and extension drilling to upgrade inferred resources to JORC indicated category. Additionally, the Company plans to commence metallurgical test-work following the completion of the resource definition program at Mulga Bill, and subsequently shift its focus to first-pass air-core drilling at Side Well South. The outlook for Great Boulder Resources appears optimistic as it continues its exploration efforts and aims to capitalize on the significant high-grade gold system at Side Well.