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Great Boulder Resources has completed more than 40,000m of drilling at its Peak Hill gold project in Western Australia, with early results exceeding expectations and the company targeting a resource update by the end of the year.
The company completed 40,032m of reverse circulation (RC) and diamond drilling during the September quarter, testing the Durack, Jubilee, Enigma, Five Ways and Harmony deposits, as well as the Golden Treasure prospect.
Key results included 4m at 37.1 grams per tonne (g/t) gold from 110m at Durack, 3m at 29.4g/t gold from 39m at Jubilee and 12m at 8.56g/t gold from 8m at Golden Treasure.
Great Boulder said drilling at Durack had exceeded expectations, with high-grade zones remaining open at depth. The company has also identified further potential along the mineralised trend extending towards the Murphy’s Creek target, which it plans to test with exploration drilling in 2027.
At Jubilee, drilling has identified gold mineralisation within a dolerite unit previously interpreted as barren, pointing to potential growth within the existing resource and extensions into newly identified lodes.
The Golden Treasure prospect, which has no estimated mineral resource, returned additional high-grade results. Two diamond holes at the prospect have visible gold, with assays expected during November.
The company plans to update its Peak Hill resource inventory at the end of 2026 before moving into scoping and feasibility studies in preparation for mining at the end of 2027. Peak Hill currently hosts a mineral resource of 9.4 million tonnes at 1.6g/t gold for 481,000 ounces.
Drilling also continued at Great Boulder’s Side Well gold project, where the Mulga Bill East area has grown to approximately 1.5km of strike and remains open to the north, south and at depth.
Results included 2m at 30.76g/t gold from 133m, including 1m at 60.9g/t, and 2.64m at 14.62g/t from 292.36m.
The company is targeting a Side Well resource of more than 1.5 million ounces in the short term, while advancing development plans for the project. Great Boulder held $12.3 million in cash at the end of September.
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