Great Boulder Resources (ASX:GBR) links Golden Treasure and Jubilee ahead of resource update
Great Boulder Resources has confirmed gold mineralisation continuity between Golden Treasure and Jubilee at its Peak Hill project in Western Australia, allowing the deposits to be modelled and estimated as a combined resource.
The latest drilling results will feed into an update of Peak Hill’s existing 481,000oz inventory, with Golden Treasure yet to have a resource estimate.
Highlights
Golden Treasure returned 8m @ 39.9g/t Au from 58m in GJRC094, its best intersection on a grams metres basis.
Additional results included 4m @ 39.3g/t Au from 30m and 16m @ 6.36g/t Au from 48m.
Durack recorded 11m @ 6.36g/t Au from surface, while Enigma returned 7m @ 6.34g/t Au from 36m.
Mt Pleasant is the next area for intensive reverse circulation drilling, following an October diamond hole to confirm vein orientations.
Located 120km north of Meekatharra in the Murchison region, Peak Hill contains resources across Harmony, Enigma, Jubilee, Durack and Fiveways.
The resource table included in the announcement reports 9,385,000 tonnes @ 1.6g/t Au, comprising 376,000oz classified as Indicated and 105,000oz as Inferred.
Recent drilling at Golden Treasure specifically tested the ground separating it from Jubilee.
The highest grade intersection sits up dip from a historical Westgold result of 19m @ 13.3g/t Au, while other intersections, including 6m @ 9.04g/t Au from 93m, indicate structural connection to the Jubilee resource area.
The company identifies Golden Treasure as providing extensional upside to the current inventory.
Great Boulder acquired Peak Hill in 2026, with the project containing substantial historical drilling data from previous operators.
Earlier exploration led to the discovery and mining of the Fiveways, Jubilee, Mt Pleasant and Harmony deposits, while the latest program is testing extensions and improving definition within existing deposit areas.
The company has an ore purchase agreement with Westgold, its largest shareholder.
Great Boulder Managing director Andrew Paterson said:
“The more gold we find, the more value we stand to unlock from our ore purchase agreement with Westgold. This arrangement gives us a rapid, low-capital path to production and cashflow”.
At Durack, drilling has begun testing areas along strike and southwest of the central resource area, with the surface intersection reported in the highlights located approximately 400m southwest of Durack, on the southwestern edge of previous drilling and the resource margin.
The company describes shallow, high grade mineralisation as important for early cashflow in a simple truck and shovel mining operation.
Approximately 1.5km northwest along strike from the main Durack area, drilling returned 4m @ 4.76g/t Au from 30m and 8m @ 2.44g/t Au from surface, in ground previously identified by historical drilling.
At Enigma, holes targeted improved definition at the northwestern and southeastern ends of the deposit, with results also including 3m @ 6.44g/t Au from 51m.
The approximately 800m long deposit remains open along strike, particularly southwest, where historical drilling has identified gold over an additional 2km.
Drilling continues, with the planned work at Mt Pleasant following the completed vein orientation hole, while the Golden Treasure, Durack and Enigma assays will inform the forthcoming resource update.