Great Boulder Resources update on Mulga Bill exploration

Great Boulder Resources Limited (ASX:GBR) has reported exceptional assay results from the Mulga Bill area at its flagship Side Well Gold Project near Meekatharra in Western Australia. The company's Managing Director, Andrew Paterson, expressed satisfaction with the multiple high-grade intersections, which have extended the resource and added thickness and grade to existing lodes. The drilling program, consisting of nine reverse circulation (RC) holes, has yielded impressive results, including grades up to 194.50g/t Au, and is part of the process to upgrade less-drilled parts of the resource from inferred to indicated category.

Andrew Paterson's commentary on Mulga Bill exploration

These are sensational new intersections at Mulga Bill. The holes were designed to add definition within areas of inferred resource and they have done so in emphatic style, with intersections that are both thicker and higher grade than previously estimated. Equally impressive is the deep result in hole 24MBRC030 which is well outside the resource, down-dip and further north than previous drilling in that area. After several rounds of drilling at Mulga Bill, the high-grade lode positions fit our interpretation perfectly, which means we have very high confidence in the validity of this resource model. The drilling has added high-grade intersections up-dip from previous holes on several sections within the resource, which should add gold ounces closer to surface than the current estimate. This will be important for potential mine economics when we start scoping studies.

Summary of Mulga Bill exploration update

Great Boulder Resources has delivered exceptional assay results from the Mulga Bill area, with multiple high-grade intersections extending the resource and adding thickness and grade to existing lodes. The company's Managing Director, Andrew Paterson, expressed satisfaction with the results, highlighting the thicker and higher-grade intersections than previously estimated. The mineralised wireframes at Mulga Bill will be updated and extended to incorporate the new intersections in preparation for a resource update towards the end of the year. The RC rig is currently drilling the final resource definition RC holes at Mulga Bill, after which reconnaissance AC drilling will commence on exciting new targets at Side Well South. Additionally, deep diamond holes recently drilled at Mulga Bill have been logged, cut, and sampled, with results expected during October. The company is also scheduled to complete resource definition RC drilling at Saltbush during October, in conjunction with the Side Well South AC program. Great Boulder Resources, with its highly prospective gold and base metals assets in Western Australia, is well positioned for future success and continues to provide consistent, material newsflow through ongoing drilling at multiple projects.