What's Happening?
Great Boulder Resources has discovered visible gold at the Eaglehawk deposit within the Side Well Gold Project in Western Australia. The gold was found between 154m to 155m down-hole in drillhole 25EHRC024, with assays pending. This discovery is part of a larger reverse circulation drilling program, which includes 27 drillholes across 4,544m. The company is actively pursuing resource definition for the deposit and plans to test new targets in the Eaglehawk-Ironbark area. Managing Director Andrew Paterson expressed excitement over the visible gold findings, highlighting the potential for further discoveries within the Mulga Bill-Eaglehawk system.
Why It's Important?
The discovery of visible gold at Eaglehawk is a promising development for Great Boulder Resources, potentially increasing the value and viability of the Side Well Gold Project. This finding could lead to a more comprehensive resource estimate, enhancing the company's prospects in the competitive gold mining industry. The project, located near Meekatharra, is Great Boulder’s flagship venture, hosting a resource estimate of 668,000 ounces of gold. Successful exploration and resource definition could attract further investment and bolster the company's position in the market.
What's Next?
Great Boulder Resources plans to continue technical programs at the Ironbark deposit, including groundwater studies and waste rock characterization. Upon completion, the company will proceed with geotechnical assessments and metallurgical testing. These efforts aim to refine the resource estimate and optimize extraction processes. The company is also preparing to test newly defined targets in the Eaglehawk-Ironbark area, potentially leading to additional discoveries and expanding the project's scope.
Beyond the Headlines
The discovery of visible gold underscores the potential for significant mineral wealth in Western Australia, a region known for its rich mining history. This development may influence local economic growth, providing job opportunities and boosting regional infrastructure. Additionally, the project highlights the importance of sustainable mining practices, as Great Boulder Resources navigates environmental and regulatory challenges associated with gold extraction. The company's commitment to resource definition and technical assessments reflects a strategic approach to maximizing the project's long-term value.
