Great Boulder Resources (ASX:GBR) delivers thick gold intersections as Side Well South nears maiden resource

Great Boulder Resources (ASX:GBR) has reported further encouraging assay results from its flagship Side Well Gold Project near Meekatharra, Western Australia.

Recent RC drilling at the Side Well South prospect has confirmed wide, high-grade gold intersections across two parallel lodes, placing the company close to delivering a maiden Mineral Resource Estimate (MRE).

Managing Director Andrew Paterson responds to key questions from investors, outlining the significance of the results, the pathway to resource growth, and the company’s strong financial footing.

How do these latest drilling results at Side Well South compare with previous discoveries within the Side Well Project?

The latest assays from Side Well South have highlighted broad zones of gold mineralisation consistent with discoveries already made at Ironbark and Saltbush, with the added benefit that the intersections appear thicker in places.

A highlight from the program was 24 metres at 2.75 grams per tonne gold from 97 metres, including two metres at 17.33 grams per tonne, while another hole returned eight metres at 3.88 grams per tonne from 144 metres, including one metre at 23.20 grams per tonne.

These are wide, shallow intersections that enhance the prospect’s potential.

“The Side Well South gold prospect is shaping up very nicely, with several new wide intersections delivered from recent drilling on the two parallel gold lodes that we discovered earlier in the year.”

Two parallel lodes have now been mapped over strike lengths of approximately 300 metres and 400 metres, and both remain open along strike in both directions as well as at depth, providing clear scope for further extensions.

How close is the company to delivering a maiden Mineral Resource Estimate (MRE) at Side Well South?

Side Well South is on the verge of being advanced to a maiden Mineral Resource Estimate, with drilling to date providing strong geological continuity.

Only a small number of additional RC holes remain before the interpretation can be finalised.

Once assays from the current program are received, they will be integrated into the geological model, paving the way for resource estimation.

“We are now very close to having sufficient drilling information and geological continuity for an initial resource estimate at Side Well South.”

This new resource will be included alongside Mulga Bill, Eaglehawk, Ironbark and Saltbush in the upcoming project-wide resource update.

What is the broader significance of these results for the overall Side Well Project resource base?

The Side Well Project currently hosts a Mineral Resource Estimate of 668,000 ounces at 2.8 grams per tonne gold, comprising 340,000 ounces in the Indicated category and 327,000 ounces in the Inferred category.

The addition of Side Well South will strengthen this position by expanding the number of contributing deposits from four to five.

“We have identified several other undrilled geochemical targets with the same pathfinder signature located further to the south, so we anticipate further gold discoveries in this area from ongoing exploration.”

These additional geochemical targets provide further scope for discovery and reinforce the long-term growth potential of the project.

What are the immediate next steps in terms of drilling and exploration across the project?

The company is finalising RC drilling at both Side Well South and Eaglehawk with two rigs currently operating, ensuring all data required for resource estimation will soon be available.

At Ironbark, diamond drilling is continuing with a seven-hole program focused on geotechnical and metallurgical sampling, which is already halfway complete.

In addition, an aircore program of 119 reconnaissance holes has been finished, with assays expected within three weeks and the rig is due to return in October to continue regional exploration.

“The GBR exploration team are finishing off the last few RC holes at Eaglehawk and Side Well South before finalising the geological and mineralisation interpretations in readiness for resource estimation.”

Looking ahead, planning is well advanced for a program of deep drilling in the fourth quarter of 2025 to test for depth extensions beneath the Mulga Bill–Eaglehawk system.

Can you outline the financial position of the company as it undertakes this work?

As of 30 June 2025, Great Boulder Resources was in a strong financial position with $12.5 million in cash and no debt.

This allows the company to maintain multiple exploration programs simultaneously, with the balance sheet further supported by a $1.27 million listed investment in Cosmo Metals.

“I’m pleased to say everything is on schedule for our pending resource update, which will include five deposits: Mulga Bill, Eaglehawk, Ironbark, Saltbush and Side Well South.”

At a share price of $0.08, the company’s market capitalisation was approximately $80 million, supported by daily liquidity averaging $263,000.

With the top 20 shareholders collectively holding 39 percent of issued shares, the register remains stable and supportive of long-term strategy.

Resource growth and exploration momentum

Great Boulder Resources is firmly on track with its exploration and resource development plans.

With Side Well South nearing its maiden Mineral Resource Estimate, results pending from Eaglehawk and Ironbark, and preparations for deep drilling beneath the Mulga Bill–Eaglehawk system, the company expects consistent progress over the coming months.

The company’s strong financial position, supported by a robust cash balance and no debt, provides the flexibility to continue advancing its flagship Side Well Gold Project while maintaining an active exploration pipeline.

This positions Great Boulder to deliver sustained growth as it works towards expanding its multi-deposit gold inventory.

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