Great Boulder Resources (ASX:GBR) 40,000m drilling program underway at Peak Hill Gold Project

Great Boulder Resources has commenced a 40,000m drilling program at the recently acquired Peak Hill Gold Project in the Murchison region of Western Australia.

The program is designed to infill and extend known gold mineralisation, test high priority exploration targets including Golden Treasure, and support a Mineral Resource Estimate update planned by the end of CY2026.

Highlights

The drilling program commenced with 2 RC rigs mobilising to site, while a diamond drilling rig is expected to arrive in August.

Great Boulder has planned drilling across the Jubilee, Durack, Enigma, Harmony and Five Ways resource areas, together with brownfields exploration at Golden Treasure.

The program is designed to infill and extend the current resource areas while also testing exploration targets adjacent to existing deposits, including Golden Treasure.

The company noted that drilling completed by the previous owner, Westgold Resources, in 2025 returned intersections including 19m at 13.34g/t Au from 104m, 10m at 18.79g/t Au from 19m and 3m at 25.04g/t Au from 65m.

Additional reported results include 4m at 10.38g/t Au from 48m, 2m at 19.73g/t Au from 75m, 2m at 38.17g/t Au from 55m and 5m at 5.32g/t Au from 79m.

Peak Hill has a reported Mineral Resource Estimate of 9.385Mt at 1.6g/t Au for 481,000oz, comprising 7.547Mt at 1.5g/t Au for 376,000oz in the Indicated category and 1.838Mt at 1.8g/t Au for 105,000oz in the Inferred category.

The resource is reported across the Harmony, Enigma, Jubilee, Durack and Five Ways deposits, with the company planning to update the Peak Hill Mineral Resource Estimate by the end of CY2026.

Great Boulder Managing Director Andrew Paterson said,

“We believe there is huge scope to grow the 481,000oz resource at Peak Hill. Extensive high grade mineralisation has already been identified outside the resource and we have some compelling new targets to test.”

The announcement also outlines activity at the Side Well Gold Project, where 1 diamond rig and 1 AC rig are operating, with another RC rig expected to mobilise in August.

The company has scheduled 20,000m of drilling at Side Well during the current half year and stated that negotiations on the Ironbark mining agreement are continuing.

Great Boulder also confirmed that Peak Hill is covered by a Mining & Heritage Agreement with the Jidi Jidi Aboriginal Corporation.

The acquisition also includes an Ore Purchase Agreement with Westgold that provides processing capacity at 1 of Westgold's 3 regional mills.

The company states that the Ore Purchase Agreement provides the ability to commence production at Peak Hill without the additional capital burden and multi year approval timeline required to build a standalone mill.

A non binding Collaboration Agreement covering Side Well also has the potential to be converted into an Ore Purchase Agreement for future Side Well production.

According to the company, updated Mineral Resource Estimates for Peak Hill and Side Well are planned before the end of CY2026.

Following completion of the Peak Hill Mineral Resource Estimate update, the company intends to commence mining studies as soon as possible to determine the likely sequence of open pit development and the priorities for field work associated with mining approval applications.