Key points
- High-grade gold assays continue to extend mineralisation at Peak Hill
- Durack deposit demonstrates high-grade mineralisation over 300m of strike
- Ore purchase agreement with Westgold provides a low-cost pathway to production
- Major resource upgrade expected by the end of the year
- Further drilling planned to target additional growth opportunities
Full summary
Great Boulder Resources (ASX: GBR) has announced significant high-grade gold assay results from its ongoing 40,000m drilling program at the Peak Hill Gold Project in Western Australia. The results, which include numerous high-grade intersections, support the company's plan to substantially grow its 481,000oz resource in preparation for production and cashflow. Notable intersections include 12m @ 8.56g/t Au at Golden Treasure and 20m @ 2.73g/t Au at Durack. The Durack deposit has shown high-grade mineralisation over 300m of strike, open to the north and at depth. Great Boulder's Managing Director, Andrew Paterson, highlighted the potential for further growth at Golden Treasure and other areas as the drilling program continues. The company has a clear, low-cost pathway to production under an ore purchase agreement with Westgold, its largest shareholder.
Guidance
Major resource upgrade expected by the end of the year
Outlook
The company expects to complete a major resource upgrade by the end of the year, with ongoing drilling to target additional growth opportunities.