Great Boulder Resources (ASX: $GBR) Quarterly Report Highlights

Great Boulder Resources Limited (ASX: $GBR) has released its Quarterly Report to 31 December 2023, revealing a focus on updating the mineral resource estimate (MRE) for the Mulga Bill and Ironbark deposits at the Side Well project. The updated MRE increases the company's resource inventory by 150,000oz Au to a total of 7,450,000t @ 2.8g/t Au for 668,000oz, with 51% of these ounces in the higher-confidence JORC Indicated category. The company also completed Aboriginal heritage surveys over the Ironbark trend prior to commencing initial drill testing on new targets. At the end of December, Great Boulder Resources had a cash balance of $4.95 million.

Executive Commentary on Quarterly Activities

During the December quarter, Great Boulder Resources focused on updating the mineral resource estimate for the Mulga Bill and Ironbark deposits at the Side Well project. The updated MRE increases the company's resource inventory by 150,000oz Au to a total of 7,450,000t @ 2.8g/t Au for 668,000oz, with 51% of these ounces in the higher-confidence JORC Indicated category. The company also completed Aboriginal heritage surveys over the Ironbark trend prior to commencing initial drill testing on new targets. At the end of December, the company had a cash balance of $4.95 million.

Summary of Quarterly Report and Outlook

Great Boulder Resources' focus on updating the mineral resource estimate at the Side Well project has resulted in a 150,000oz increase in the company's resource inventory to a total of 7,450,000t @ 2.8g/t Au for 668,000oz, with 51% of these ounces in the higher-confidence JORC Indicated category. The completion of Aboriginal heritage surveys over the Ironbark trend has paved the way for initial drill testing on new targets. With a cash balance of $4.95 million at the end of December, the company is well-positioned to continue its exploration activities. The planned exploration for 2024 includes low-cost AC drilling to test new targets along the Ironbark corridor and infill drilling at the Mulga Bill North prospect. Great Boulder Resources remains optimistic about the future prospects of its projects, including Polelle, Wanganui, Wellington, Gnaweeda, and Whiteheads.