Great Boulder Resources (ASX:GBR) reports Peak Hill drill results
Great Boulder Resources has received additional assays from Jubilee, Durack, Enigma and Golden Treasure at its Peak Hill Gold Project, located 100km north of Meekatharra in the Murchison region of Western Australia, with drilling continuing across several deposits and prospects.
Highlights
Peak Hill contains a Mineral Resource of 9.385Mt at 1.6g/t Au for 481,000oz.
Latest assays were received from Durack, Golden Treasure, Enigma and Jubilee.
3 diamond holes have been completed at Durack, with assays pending.
3 rigs remain on site as the 40,000m drilling campaign continues.
Peak Hill has an ore purchase agreement with Great Boulder’s largest shareholder, Westgold.
Durack contains a resource of 2.89Mt at 1.2g/t Au for 112,000oz, with the latest drilling returning 20m at 2.73g/t Au from 90m and 10m at 9.18g/t Au from 137m in GDRC030.
GDRC027 intersected 13m at 1.96g/t Au from 91m and 8m at 5.67g/t Au from 148m, while GDRC041 returned 6m at 4.73g/t Au from 155m.
Additional results from the deposit included 3m at 6.36g/t Au from 142m and 6m at 2.77g/t Au from 151m in GDRC033, together with 7m at 3.17g/t Au from 152m in GDRC031.
The completed diamond holes confirmed that mineralisation is associated with silicified shears, steeply dipping to the northeast with an apparent northwest plunge.
Great Boulder Managing Director Andrew Paterson said,
“The Durack deposit is demonstrating high grades over 300m of strike, with a well-defined plunge direction giving us high-grade targets for further drilling at depth.”
At Golden Treasure, which is outside the current Mineral Resource, GJRC045 returned 12m at 8.56g/t Au from 8m.
GJRC036 intersected 8m at 9.00g/t Au from 76m and 1m at 13.15g/t Au from 111m, while GJRC040 returned 8m at 3.06g/t Au from 156m, GJRC041 intersected 4m at 5.35g/t Au from 120m and GJRC039 returned 4m at 4.01g/t Au from 92m.
Observations from 2 diamond holes drilled at Golden Treasure indicate that the area is structurally complex, with at least 2 mineralised vein orientations and visible gold in adjacent shears.
Assays from these holes remain pending. Great Boulder cautioned that visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analysis where concentrations or grades are the factor of principal economic interest.
At Enigma, the results included higher grade zones and broader lower grade mineralised intervals within moderately dipping shears hosted in the Narracoota volcanics.
GERC005 returned 3m at 5.91g/t Au from 72m and 13m at 1.15g/t Au from 109m, while GERC016 intersected 2m at 6.50g/t Au from 66m and 5m at 1.51g/t Au from 115m.
GERC021 returned 6m at 2.89g/t Au from 90m, 3m at 2.25g/t Au from 69m and 1m at 6.36g/t Au from 155m.
Further drilling at Jubilee returned 2m at 6.20g/t Au from 17m in GJRC034, 3m at 3.16g/t Au from 60m in GJRC028 and 2m at 1.58g/t Au from 17m in GJRC035.
The RC rigs are completing Phase 1 programs at Enigma and Five Ways before moving back to Jubilee and Durack for Phase 2 programs, while the diamond rig is drilling holes at Enigma to collect structural and assay data.
Ongoing drilling through the remainder of 2026 will include resource definition at Harmony and further drilling at Golden Treasure and Mt Pleasant, which are additional to the current Mineral Resource.
Available metallurgical information dates to the Baxter Joint Venture in 1993 and 1994, and the announcement states that there are no known metallurgical problems with gold mineralisation in the Peak Hill area.
Assays from Five Ways are expected shortly, with the company planning to deliver a major resource upgrade by the end of 2026.