Great Boulder Resources (ASX:GBR) Andrew Paterson on Ironbark’s growth, early production potential and what’s next
June 17, 2025How significant is the 8 metres at 8.57 grams per tonne gold intercept at Ironbark?
This intercept represents a highly encouraging outcome that further reinforces the growth potential of the Ironbark deposit.
The drillhole returned 8 metres at 8.57 grams per tonne of gold from a depth of 92 metres, including a particularly high-grade interval of 3 metres at 19.57 grams per tonne and a peak individual assay of 1 metre at 41.4 grams per tonne.
What makes this result especially noteworthy is its location 25 metres south of the strong intercept reported in early May and 65 metres beyond the southern boundary of the current defined Ironbark resource.
This clearly indicates that Great Boulder Resources is successfully expanding the mineralised envelope, and it provides confidence that Ironbark could grow into a significantly larger resource base, with potential implications for both scale and the long-term development strategy of the project.
How does this drilling impact Great Boulder’s development plans?
The latest drilling results align closely with Great Boulder’s overarching goal of establishing early-stage production opportunities within the Side Well Project.
Ironbark already hosts a defined resource of 100,000 ounces at 3.3 grams per tonne gold, and the continued strike extensions demonstrated by this recent program suggest the resource remains open and expandable.
The deposit’s shallow depth, high grade, and tabular geometry make it particularly amenable to low-complexity, open-pit development.
Notably, mineralisation begins at surface in the northern portion of the deposit, which supports the potential for near-term cashflow generation once mining approvals are secured.
Each successful step-out hole contributes valuable information that helps shape the scale and economics of a potential development pathway that could be both technically simple and financially robust.
What are the next steps for the Ironbark deposit?
The immediate priority is to receive and interpret assay results from the remaining three reverse circulation drillholes that were completed during the current program.
These results will help define the southern extent of the mineralised system and guide the geological team as they finalise the next phase of drilling, which will include deeper step-out holes designed to test both along strike and down dip extensions.
In addition, one further hole that was delayed due to wet weather and restricted access will be drilled in July once the rig returns to site.
Beyond the drilling, Great Boulder is continuing to advance development planning through the preparation of a scoping study and the progression of mining approvals, with supporting field work scheduled to commence next month.
These steps are intended to build a clear and actionable development pathway for Ironbark.
What is the current size of the Side Well Project’s resource?
The Side Well Gold Project currently hosts a total mineral resource of 668,000 ounces at an average grade of 2.8 grams per tonne gold, which includes both the Ironbark and Mulga Bill deposits.
Within this total, Ironbark contributes 100,000 ounces at a higher average grade of 3.3 grams per tonne, while the remaining 568,000 ounces are attributable to the Mulga Bill deposit, comprising both open-pit and underground resource components.
This robust resource base provides a strong platform for Great Boulder’s ongoing exploration and development programs, and with each new high-grade intercept, particularly at Ironbark, the potential for further growth remains clear.
When will the Ironbark scoping study be released?
The scoping study for Ironbark is currently well underway and progressing steadily, although no firm release date has been announced.
The Company has confirmed that the study will be published as soon as it is finalised, and it is expected to provide important insights into potential development scenarios.
These will likely include projected timelines, processing options, and economic assessments based on the current resource data and ongoing drilling success.
As a key part of Great Boulder’s broader strategy, the study will help advance Ironbark as a near term production asset capable of generating early cashflow, while also supporting continued exploration activity across the wider Side Well Project area.
Closing Remarks
With assays pending, drilling set to resume in July, and the scoping study nearing completion, Great Boulder is advancing toward key development milestones.
Ironbark’s continued growth highlights its potential to become a cornerstone asset in Western Australia’s next wave of gold producers.
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