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Great Boulder Resources Ltd.
Summary
| Project: | Balagundi | |
|---|---|---|
| Deposit: | Balagundi | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/12/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 12-1-2017: Great Boulder Resources Ltd. announces an Exploration/Drilling Update report for its Balagundi deposit at the Balagundi project. Drilling results incl. 14m @ 1.4g/t Au from 14m. Great Boulder Resources (ASX: GBR) is pleased to announce that rec | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Melanie Leighton (Internal) | |
| ABSTRACT: | Great Boulder Resources (ASX: GBR) is pleased to announce that recently completed drilling has continued to extend the known mineralisation at its Balagundi gold project, 20km east of Kalgoorlie. Phase 2 drilling has now been completed at Balagundi with all assay results received and compiled for further geological interpretation. At Mt Bellew North, mineralisation has now been delineated along a 300m strike extent and remains open along strike to the south and up-dip to the south-west. Follow-up drilling is planned to test the areas of open mineralisation. At Mt Bellew East, mineralisation has been identified along a ~200m strike extent and remains open along strike. The orientation of mineralisation at Mt Bellew East appears more complex than at Mt Bellew North, with several discrete zones identified to date. As drilling along this trend is sparser than at Mt Bellew North, Great Boulder is undertaking further structural and geological modelling ahead of further targeted drilling. Three holes were drilled at Mt Bellew South which retuned no new significant results. Given the abundance of historical workings and previous significant dill hole intercepts, further desktop and field work will be undertaken at Mt Bellew South ahead of further drilling. Great Boulder has also completed a review of all historical and new data for the Balagundi project, including previous exploration by Acacia Resources Limited1 (“Acacia”) and Eastern Goldfields Mining Company (“EGMC”), as well as more recent GBR drilling and airborne magnetics reprocessing. This has led to the identification of three additional priority targets which the Company intends to test as part of its next drilling campaign. Great Boulder Managing Director Stefan Murphy said the known mineralisation continued to be extended at Balagundi. | |
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