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Great Boulder Resources Ltd.
Summary
| Project: | Yamarna JV | |
|---|---|---|
| Deposit: | Mt Venn | |
| Location: | Australia | |
| Commodities: | Copper-Nickel-Cobalt-Gold-Silver | |
| Date: | 5/28/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 28-5-2018: Great Boulder Resources Ltd. announces an Exploration/Drilling Update report for its Mt Venn deposit at the Yamarna JV project. Drilling results incl. 21.0m @ 0.6% Cu, 0.2% Ni, 0.06% Co from 30.0m. Great Boulder Resources (ASX: GBR) is pleased | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Stefan Murphy (Internal) | |
| ABSTRACT: | Great Boulder Resources (ASX: GBR) is pleased to report the ground-based moving loop EM (MLEM) survey at the Eastern Mafic complex within its Mt Venn project in WA has identified another 12 strong conductors which are consistent with a bedrock massive sulphide source. Great Boulder Managing Director Stefan Murphy said the new conductors provided more firm evidence of the exceptional exploration potential at the Eastern Mafic. “The exploration work completed at the Eastern Mafic strongly supports our view that this area has the potential to be the source of the extensive mineralisation already discovered immediately adjacent at Mt Venn,” Mr Murphy said. “The strong EM response from the latest conductors is also highly promising as they are consistent with a massive sulphide source. “With the survey now 70 per cent completed and the recent $2.5 million capital raising done, we are on the cusp of drilling these potentially company-making targets.” A total of 491 stations have been completed along 38 profile lines, using a 100x100m loop with 50m intervals and infilled to 25m over the peak of the anomaly. A further 40 stations remain to be completed with the 100m loop, plus additional infill as required. Once completed, the survey will move on to the planned 200m loop survey lines that have been designed to penetrate the paleochannel in areas of anomalous copper-nickel geochemistry. The MLEM results continue to show very good correlation with the airborne EM results. A total of 15 late time conductors consistent with a bedrock massive sulphide source have now been identified from 70% of the planned survey area. The MLEM conductors show a coincident 4km trend with a gravity and magnetic high along the eastern edge of the Eastern Mafic intrusion. Three discrete airborne EM anomalies were also tested with MLEM along the eastern shear zone, with two returning strong responses consistent with a massive sulphide source. | |
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