Great Boulder Resources (ASX:GBR) confirms continuity of high-grade gold at Eaglehawk and Ironbark

Great Boulder Resources has delivered another strong set of drilling results from its flagship Side Well Gold Project near Meekatharra in Western Australia.

The results confirm consistent high-grade gold mineralisation across the Eaglehawk and Ironbark deposits, supporting the company’s upcoming resource update.

Managing Director Andrew Paterson discussed the results, ongoing exploration, and the progress toward finalising the updated Mineral Resource Estimate.

What do the latest results at Eaglehawk reveal about the potential of the deposit?

The results from Eaglehawk continue to demonstrate that it is developing into a robust high-grade gold system.

Fifteen reverse circulation holes were completed for a total of just over 3,100 metres as part of the resource definition drilling program aimed at supporting Eaglehawk’s maiden Mineral Resource Estimate.

“The Eaglehawk deposit is continuing to deliver high-grade intersections as we finalise all the data required for an initial resource estimate.”

Highlights from the program included 28 metres at 3.80 grams per tonne gold from 176 metres, including 11 metres at 7.32 grams per tonne from 193 metres, and 9 metres at 5.94 grams per tonne from 70 metres.

A particularly outstanding result came from re-assaying hole 25EHRC003, which upgraded from 8 metres at 29.18 grams per tonne gold to 6 metres at 121.07 grams per tonne from 130 metres, including 2 metres at 342 grams per tonne.

“Results of 6m @ 121g/t reinforce the view that Eaglehawk has the same style and tenor of gold grades as our high-grade Mulga Bill deposit.”

These results show the consistency of mineralisation at Eaglehawk and underline its potential to complement the established high-grade Mulga Bill deposit within the broader Side Well Project.

How do the Ironbark results fit into the broader Side Well Project strategy?

Ironbark remains a key component of Great Boulder’s growth strategy at Side Well. Thirteen reverse circulation holes were drilled for a total of 1,726 metres to test the southern extension of a high-grade lode.

The program successfully extended the known strike by around 180 metres, providing valuable insight into the geometry and scale of mineralisation.

“Meanwhile the team has completed drilling over the southern high-grade extension at Ironbark, so we can also finalise that data ready for a resource update.”

Results included 13 metres at 2.43 grams per tonne gold from 121 metres, including 7 metres at 3.99 grams per tonne, and 3 metres at 7.27 grams per tonne from 119 metres.

These outcomes confirm that the near-surface southern portion has been effectively closed off, while deeper high-grade zones may persist beneath current drilling levels.

The new data will feed directly into the resource model, ensuring Ironbark continues to contribute significantly to the company’s consolidated gold inventory at Side Well.

What progress has been made towards the updated Mineral Resource Estimate for Side Well?

Great Boulder is currently compiling and interpreting new assay data from Eaglehawk, Ironbark, and Mulga Bill East to update its mineralisation models and wireframes.

This will underpin the revised Side Well Mineral Resource Estimate, scheduled for completion by the end of the year.

The most recent Mineral Resource Estimate, released in November 2023, reported 668,000 ounces at an average grade of 2.8 grams per tonne gold, including 568,000 ounces from Mulga Bill and 100,000 ounces from Ironbark.

Since then, resource definition drilling has increased data density and refined the understanding of grade continuity across key deposits.

In addition, a seven-hole diamond drilling program has been completed at Ironbark to gather geotechnical and metallurgical data.

The core is being logged and assessed through November, and those results will be incorporated into the final resource model to ensure robust inputs for future design and development work.

What is the significance of the Exploration Incentive Scheme grant for the company?

Great Boulder Resources has been awarded up to 180,000 dollars through the Western Australian Government’s Exploration Incentive Scheme to fund deep diamond drilling at Mulga Bill and Eaglehawk.

This co-funded program supports drilling that targets deeper extensions of known mineralisation beyond the reach of the current reverse circulation programs.

The upcoming diamond drilling will test the vertical extent of the gold system, adding valuable geological data for long-term resource planning.

The company regards the funding as a strong validation of its exploration methodology and technical rigour in identifying and testing high-potential targets.

What are the company’s next steps across the Side Well Project?

Great Boulder’s field operations are continuing at full pace, with several rigs active across the project area.

The reverse circulation rig is currently drilling at Mulga Bill East and Flagpole to extend mineralisation both along strike and at depth, while the air core rig is targeting regional gold anomalies around Eaglehawk and Ironbark North.

“At the moment we have the RC rig working at Mulga Bill East while the AC rig continues testing new regional gold targets. The diamond rig is expected back on site shortly.”

A heritage survey is scheduled for mid-November to open additional exploration areas, including Tal Val, Baker’s, and other priority zones within the Ironbark Corridor.

The geotechnical assessment of recently drilled diamond core at Ironbark will be completed during November before sampling and assay.

In parallel, the company’s technical team is finalising updated mineralisation wireframes for all key deposits, Mulga Bill, Eaglehawk, Ironbark, Saltbush, and Side Well South, to support the delivery of the updated Side Well Mineral Resource Estimate by year-end.

Building momentum toward year-end milestones

The ongoing high-grade drilling results at Eaglehawk and Ironbark reaffirm Great Boulder Resources’ technical focus and the scale of its opportunity at the Side Well Gold Project.

With active drilling programs, government-backed deep exploration, and a comprehensive resource update in progress, the company is positioned to close out the year with strong momentum and an expanded understanding of one of the Murchison region’s most promising gold systems

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