What's Happening?
Great Boulder Resources has extended drilling at its Ironbark deposit in Western Australia, adding significant gold endowment to the project. The extension includes known mineralization south of the existing resource, which stands at 100,000 ounces at 3.3 grams per tonne gold. The mineralization remains open along strike and at depth, offering potential for resource expansion. The company is conducting environmental studies and planning to lodge mining approval documentation. Recent drill results show high-grade gold intersections, indicating a larger potential resource than initially considered.
AD
Why It's Important?
The expansion of the Ironbark deposit could enhance Great Boulder Resources' position in the gold mining sector, potentially increasing its market value and attracting investment. The high-grade gold findings suggest a profitable mining operation, which could boost local economic activity and job creation. The ongoing development work and environmental assessments are crucial for securing mining approvals, impacting the project's timeline and future profitability.
