Great Boulder Resources Limited (ASX: GBR) - Discovery of a New Mineralised System - Ironbark
Rooster Talk Episode 59 is with Andrew Paterson, Managing Director of Great Boulder Resources Limited (ASX: GBR)
This is an update on the Side Well Project which is about the recent drilling results with the discovery of new mineralisation at Ironbark.
Great Boulder Resources appear to have a mineralised province with Side Well as the system that is producing metals in Ironbark, which is distinctly different to what is happening at Mulga Bill. Andrew shares with us why this appears to be the case.
Ironbark is 1.4km to the east of Mulga Bill. The drilling results may be showing that there is a series of potential pods of mineralisation which will help the overall picture of potential for Side Well.
An intercept of 20m @ 3.05 g/t of gold should not be ignored. In any project, this is a clear indication of mineralisation that is not isolated. In my opinion, the discovery of these kinds of drill intercepts may be an early indication of a level of gold endowment which would excite any company. The excitement stems from the fact that it is within a province that has already shown continuous mineralisation at Mulga Bill.
If you are isolated without Mulga Bill, it would make sense to question the potential. However, if you are in a decent system, you would expect numerous deposits nearby.
What is interesting with the results coming out from the announcements is that there is a clear horizon where the gold is being identified.
It is still early to make a decision of the future potential, but it is looking promising. The presence of copper at Mulga Bill and the lack of copper (currently) at Ironbark is determining the perception of difference at Side Well. It is this that should be noted for audiences.
00:55 Andrew updates on Great Boulder Resources Limited.
01:24 Is Ironbark similar to Mulga Bill?
02:50 Will the Ironbark mineralisation be a similar system to Mulga Bill?
03:24 Geologically, can multi systems exist in a similar area?
05:44 Is multi system a good thing for Side Well?
07:00 Is the copper in Mulga Bill significant?
08:40 Is Great Boulder Resources feeling like Side Well will be a Mine?
10:28 Will Mulga Bill be a series of pits along strike?
11:29 Is the copper a good or a bad thing for the project?
13:32 Mineralisation seems to happen in the same horizon.
14:31 Is IP the holy grail for Great Boulder?
16:27 Is geophysics being used more today than 20 years ago?
17:34 News flow for Great Boulder Resources Limited.
19:45 What does Andrew think of the current market sentiment?
22:37 Why this is a good time to look at good companies.
23:24 Andrew's last words.
About Andrew Paterson
Andrew is a geologist with over 25 years’ experience in mining and exploration in Australia and PNG. After graduating from WASM in 1993, he spent several years in surface and underground gold and nickel mining operations around the WA Goldfields before moving into a management role with Harmony Gold.
Since then, Andrew has managed diverse programs exploring for gold, nickel, iron ore and lithium for companies including Atlas Iron and Focus Minerals. In 2016 Andrew was part of the management team that recapitalised Kingston Resources, leading to Kingston’s successful acquisition of the 2.8Moz Misima Gold Project in PNG.
About Great Boulder Resources Limited (ASX: GBR)
Great Boulder is a mineral exploration company looking for gold and base metals in Western Australia. With over 1,000km2 of tenements spread across its key projects at Kalgoorlie, Meekatharra and Yamarna the Company is leveraged for exploration success.
Having made two large-scale copper-nickel sulphide discoveries at Yamarna within two years of listing, GBR has a track record of exploration success backed by a strong technical team. Early-stage exploration success on the gold projects in recent months have now set the Company up for an exciting year ahead.
The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer.
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