Great Boulder Resources Ltd (ASX:GBR) MD Andrew Paterson tells Proactive the company has enhanced the gold bounty of its Side Well Project near Meekatharra in Western Australia through an updated mineral resource estimate (MRE) that has increased the total resource by 29% to 668,000 ounces at 2.8 g/t gold. Importantly, 51% of the resources are now in the indicated JORC category, a key factor in enhancing the geological understanding of Side Well and de-risking the project as it moves towards development. The updated MRE incorporates additions to the resources at the Mulga Bill and Ironbark deposits and there is considerable scope to take the overall Side Well resource well beyond 1 million ounces.
This is an important step for Great Boulder, with a significant increase in contained ounces at Mulga Bill and Ironbark as well as the conversion of a large proportion of both deposits from the Inferred to Indicated JORC category," Paterson said. "That means both deposits are defined with sufficient confidence to commence economic studies once the current inflationary cycle peaks and we can confidently predict future cost inputs.
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