Great Boulder Resources launches Peak Hill drilling program
- Great Boulder Resources (ASX:GBR) has commenced a 40,000m drilling programme at the recently acquired Peak Hill Gold Project in Western Australia.
- The exploration campaign aims to test high-priority targets and expand on the existing 481,000-ounce resource base.
- Two reverse circulation rigs are active on site, with diamond drilling and a separate 20,000m campaign at the Side Well Project slated for the current half-year.
Great Boulder Resources (ASX:GBR) has commenced a 40,000-metre drilling campaign at its newly acquired Peak Hill Gold Project to expand and upgrade the site's 481,000-ounce resource.
The new exploration effort follows historical high-grade intercepts from former project owner Westgold Resources (ASX:WGX), including 10m at 18.7g/t gold from 1m.
The company moved into deploying two reverse circulation rigs on site, with a diamond drilling rig expected to join the field in approximately five weeks.
The fine print of the operational plan outlines infill and target testing at the Golden Treasure area, backed by a mining agreement with the Jidi Jidi Aboriginal Corporation and an ore purchase agreement with Westgold Resources.
Great Boulder Resources stated that resource updates for both Peak Hill and its 1.02-million-ounce Side Well Gold Project are scheduled by the end of the year ahead of mining studies.
Following the announcement, the Great Boulder Resources share price was unchanged at $0.067.
Beyond the main campaign at Peak Hill, the explorer is running concurrent operations, including a separate 20,000-metre resource growth drilling programme at the nearby Side Well project scheduled for the current half-year.
The dual-project exploration strategy provides the business with an established pathway process towards potential future gold production and commercial cash flow.
