Drilling momentum builds growth platform at Great Boulder Resources (ASX:GBR) side well project

Great Boulder Resources (ASX:GBR) is building exploration and development momentum at its flagship Side Well Gold Project near Meekatharra, with a pipeline of new prospects, expanding strike zones and advancing studies all contributing to a larger vision for near term development.

Managing Director Andrew Paterson outlined how strategic discoveries at Side Well South and Eaglehawk, together with the upcoming Ironbark scoping study, are framing a project with increasing scale and optionality.

Early Discoveries Add Strategic Depth

Shallow gold zones confirmed through RC drilling at Side Well South have shifted the area’s status from a series of AC anomalies to genuine drill supported prospects.

“The confirmation of shallow gold zones through RC drilling at Side Well South transforms early-stage AC anomalies into genuine prospects,” Paterson said.

The shallow, high-grade nature of these zones is particularly important in a staged development model, where early open pits can support early cashflow and mill feed during pre-strip activities at larger deposits like Mulga Bill.

Paterson added that the geological setting at Side Well South shares similarities with the Ironbark and Saltbush deposits, and sits within a known mineralised structural corridor.

With 16 RC assays still pending, the company expects this area to remain a key focus for the remainder of 2025.

Eaglehawk Strike Growth Supports Resource Expansion

Great Boulder Resources drilling program at Eaglehawk has delivered a 200 metre extension to the known mineralised strike, which now places the zone in strong contention for future mineral resource inclusion.

“Eaglehawk is now well-positioned for inclusion in future mineral resource estimates,” Paterson said. “The high-grade nature of the intercepts suggests strong continuity of mineralisation along the Central Corridor.”

Importantly, the broader system remains open to the north, where the company has recently received heritage clearance over an additional 2.7 kilometres of strike.

This paves the way for a wide-spaced aircore program to test further along the Mulga Bill Eaglehawk trend.

Paterson said the system’s full extent remains unknown, but early signs suggest considerable upside.

Exploration Target Highlights Growth Potential

The company has released an Exploration Target of up to 1.1 million ounces of gold across Side Well, built on a foundation of geological mapping, drilling data, litho-geochemistry and 3D modelling.

Paterson described the estimate as conservative, noting that it excludes newly identified anomalies such as Tal Val.

While not a formal JORC resource, the target provides a useful benchmark to illustrate the scale emerging across GBR’s core tenure.

“It provides a conservative estimate of potential ounces within already explored areas,” he said.

Ironbark Scoping Study on Track

The Ironbark scoping study, which will assess the economic viability of a high-grade open pit operation, remains on track for release this quarter.

It represents a key milestone in transitioning from resource growth to project development.

“The Ironbark scoping study is progressing and remains on schedule for delivery this quarter,” Paterson said. “It will provide key economic insights into the development potential of GBR’s high-grade open pit target at Ironbark.”

Recent drilling results at Ironbark, including 8 metres at 9.07g/t gold from 113 metres, are expected to support robust project economics and low strip ratios.

Paterson described the study as a critical step in shaping the company’s long term growth strategy.

Strategic Positioning for 2025 and Beyond

Great Boulder’s strategy for 2025 includes ongoing aircore and RC drilling programs across Side Well South, Ironbark and Eaglehawk.

The current Phase 2 AC drilling at Side Well South is targeting extensions and infill zones, while follow up RC drilling will revisit areas of recent success.

In parallel, IP geophysical surveys are being deployed to identify sulphide-rich zones, particularly in underexplored areas to the north.

These surveys will complement the company’s drill planning and help prioritise future targets.

Meanwhile, Great Boulder has begun study work in support of mining approvals at Ironbark.

Negotiations around a Mining Agreement are also progressing steadily.

“This ensures GBR continues to systematically unlock value across the entire project area,” Paterson said.

With an integrated exploration and development pipeline, new discoveries feeding into resource expansion, and key studies moving forward, Great Boulder Resources is well positioned to transition into its next growth phase.

The company’s focus on systematic exploration, shallow optionality, and staged development potential continues to solidify Side Well as one of Western Australia’s most promising emerging gold projects.

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