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GREAT BOULDER RESOURCES LIMITED — Capital/Financing Update 2022
Jun 21, 2022
64967_rns_2022-06-21_bc0daea6-b411-4650-905e-667eee422ecd.pdf
Capital/Financing Update
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ASX Announcement
22 JUNE 2022
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FURTHER HIGH-GRADE GOLD INTERSECTIONS AT IRONBARK
Complemented by a Significant Au & Cu Intersection at Mulga Bill
HIGHLIGHTS
-
➢ Additional high-grade gold intersections at the Ironbark discovery highlighted by:
o9m @ 4.49g/t Au from 104m and 20m @ 3.05g/t Au from 120m in 22IBRC003 -
➢ Gold mineralisation defined over 400m at Ironbark and remains open along strike and at depth – the southern-most hole intersected 14m @ 4.25g/t Au from 104m in 22IBRC007
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➢ Additional high-grade gold in RC drilling at Mulga Bill highlighted by:
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4m @ 7.02g/t Au from 84m and 5m @ 8.67g/t Au from 114m in 22MBRC012
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➢ Significant copper intersection at Mulga Bill adds potential to the sulphide zone:
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25m @ 1.34% Cu, 13.33g/t Ag and 0.41g/t Au from 88m including 13m @ 2.01% Cu, 18.59g/t Ag and 0.36g/t Au from 88m in 22MBRC003
-
➢ AC drilling completed at Whiteheads; RC to recommence at Side Well imminently
➢
Great Boulder Resources (“ Great Boulder ” or the “ Company ”) (ASX: GBR ) is pleased to announce further assay results from the maiden RC program at the Ironbark prospect as well as recent RC assays from Mulga Bill, both of which form part of the Side Well Gold Project (“ Side Well ”) near Meekatharra in Western Australia.
Great Boulder’s Managing Director, Andrew Paterson commented:
“At Ironbark, hole 22IBRC003 returned two strong intersections along strike from the earlier result in hole 007 which intersected 14m @ 4.25g/t Au. More drilling is now required in the central area of Ironbark to test continuity between this zone and another high-grade result of 22m @ 2.47g/t Au in hole 005 to the north.”
“Based on these results it appears the northern-most hole 22IBRC006 was drilled too far west to intersect the trend, in which case Ironbark is still open along strike in both directions.”
“Results are still coming in for the recent RC drilling at Mulga Bill. High-grade gold intersections in hole 22MBRC012 plus our highest-grade copper intersection in hole 22MBRC003 demonstrate the potential of the system.”
“We’re very keen to start RC testing the southern targets at Mulga Bill at the end of June. With the rig back on site for the rest of the year we will have a steady flow of results coming through and I’m sure there will be plenty more excitement as the story unfolds.”
ASX Code: GBR Contact: Andrew Paterson, Managing Director E: [email protected] GREATBOULDER.COM.AU P: +61 8 9321 6037 Level 1, 51 Colin St West Perth WA 6005 ABN 70 611 695 955
ASX Announcement
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Assays have been received for the remaining RC holes drilled at the Ironbark discovery east of Mulga Bill. Highlights include:
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9m @ 4.49g/t Au from 104m in 22IBRC003
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20m @ 3.05g/t Au from 120m in 22IBRC003
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3m @ 1.06g/t Au from 74m in 22IBRC001A
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3m @ 1.77g/t Au from 129m and 1m @ 6.85g/t Au from 137m in 22IBRC002
Highlights from recent drilling on the Mulga Bill – Loaded Dog trend include:
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4m @ 7.02g/t Au from 84m in 22MBRC012
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5m @ 8.67g/t Au from 114m in 22MBRC012
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1m @ 39.30g/t Au from 84m in 22MBRC003
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17m @ 1.39g/t Au from 151m to EOH (end of hole) in 22MBRC005
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1m @ 9.09g/t Au from 227m to EOH in 22MBRC009
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25m @ 1.34% Cu , 13.33g/t Ag and 0.41g/t Au from 88m, including 13m @ 2.01% Cu , 18.59g/t Ag and 0.36g/t Au from 88m within the “sulphide zone” in 22MBRC003
Ironbark
Mineralisation at Ironbark sits on lithological contacts between basalt and ultramafics and strikes north-northeast. The mineralisation appears to have a steep easterly dip, although more drilling is required to confirm this interpretation. The competency contrast between brittle basalt and relatively ductile ultramafics is a classic structural setting favourable for deposition from mineralising fluids.
Additional drilling is required to provide confidence on the continuity and orientation of mineralised zones between drill sections, which are currently spaced 100m apart. Mineralisation has been defined over approximately 400m, and with the southern-most hole 22IBRC007 intersecting 14m @ 4.25g/t Au it remains open to the south. Importantly the interpreted orientation means the northernmost hole 22IBRC006 was drilled too far to the west, so Ironbark appears to be open along strike in both directions.
Mulga Bill
While the copper intersection in hole 22MBRC003 clearly demonstrates the potential significance of this area the Company remains focused on testing high-grade gold mineralisation at Mulga Bill. The other results from this RC campaign continue to support the sub-vertical vein interpretation, which appears to be a later structural element cross-cutting sub-horizontal high-grade vein sets intersected in some of GBR’s earlier RC programs.
Ongoing drill programs will be selectively targeting these vein sets with a primary focus on defining continuity of high-grade gold zones. The large, subvertical and relatively tabular copper sulphide zone will also be drilled, but as a secondary priority.
E: [email protected] GREATBOULDER.COM.AU ABN 70 611 695 955
ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 9321 6037 Level 1, 51 Colin St West Perth WA 6005
ASX Announcement
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Next Steps
When RC drilling resumes at the end of June the first new target to be drilled will be at the southern end of the Mulga Bill – Loaded Dog corridor, where an air-core hole ended in 23.78g/t Au mineralisation at 150m depth[1] .
An extensional and infill RC program will also be completed at Ironbark. Current coverage comprises only seven RC holes spanning 400m of strike. The next round of drilling will test continuity of mineralisation between the current intersections, test for strike extensions to the north and south and also test deeper targets beneath known intersections.
The 57 AC holes currently being assayed include infill drilling over significant gaps in coverage north and south of Loaded Dog, some of which test the target area immediately east of the IP chargeability anomaly recently tested by diamond hole 21MBRCD096. End-of-hole gold and multi-element assays from these holes will be integral to planning further RC drill campaigns in the area in coming months.
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FIGURE 1: RECENT DRILLING INTERSECTIONS AT IRONBARK SHOWING
INTERPRETED GEOLOGY OVER REGIONAL MAGNETICS
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- 1 Please refer to GBR ASX announcement of 16/2/2022 for hole details
E: [email protected] GREATBOULDER.COM.AU ABN 70 611 695 955
ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 9321 6037 Level 1, 51 Colin St West Perth WA 6005
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FIGURE 2: CROSS SECTION THROUGH HOLE 22IBRC005. MINERALISATION IS INTERPRETED TO DIP SUB-VERTICALLY BUT FURTHER DRILLING WILL CONFIRM THIS.
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FIGURE 3: CROSS SECTION THROUGH HOLE 22IBRC003, 200M SOUTH OF FIGURE 2.
E: [email protected] GREATBOULDER.COM.AU ABN 70 611 695 955
ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 9321 6037 Level 1, 51 Colin St West Perth WA 6005
ASX Announcement
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22 JUNE 2022
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- FIGURE 4: CROSS SECTION THROUGH MULGA BILL SHOWING RECENT HOLE 22MBRC003
This announcement has been approved by the Great Boulder Board.
For further information contact:
Andrew Paterson Managing Director Great Boulder Resources Limited [email protected] www.greatboulder.com.au
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Follow GBR on LinkedIn
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Media
Lucas Robinson Corporate Storytime +61 408 228 889 [email protected]
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Follow GBR on Twitter
E: [email protected] GREATBOULDER.COM.AU ABN 70 611 695 955
ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 9321 6037 Level 1, 51 Colin St West Perth WA 6005
ASX Announcement
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FIGURE 5: SIDE WELL LOCATION PLAN
ABOUT GREAT BOULDER RESOURCES
Great Boulder is a mineral exploration company with a portfolio of highly prospective gold and base metals assets ranging from greenfields through to advanced exploration located in Western Australia. The Company’s core focus is advancing the Whiteheads and Side Well gold projects while progressing initial exploration at the earlier stage Wellington Base Metal Project located in an emerging MVT province. With a portfolio of highly prospective assets plus the backing of a strong technical team, the Company is well positioned for future success.
COMPETENT PERSON’S STATEMENT
Exploration information in this Announcement is based upon work undertaken by Mr Andrew Paterson who is a Member of the Australasian Institute of Geoscientists (AIG). Mr Paterson has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a ‘Competent Person’ as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code). Mr Paterson is an employee of Great Boulder Resources and consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.
E: [email protected] GREATBOULDER.COM.AU ABN 70 611 695 955
ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 9321 6037 Level 1, 51 Colin St West Perth WA 6005
ASX Announcement
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FIGURE 6: GREAT BOULDER’S PROJECTS
TABLE 1: SIGNIFICANT INTERSECTIONS
| Prospect | Hole ID | From | To |
Width | Au | Ag | Cu | Comments |
|---|---|---|---|---|---|---|---|---|
| (m) | (m) | (m) | (g/t) | (ppm) | (%) | |||
| Ironbark | 22IBRC001A | 4 |
12 | 8 | 0.52 | 4m composites | ||
| 68 | 69 | 1 | 0.5 | |||||
| 74 | 77 | 3 | 1.06 | |||||
| 22IBRC002 | 129 | 132 | 3 | 1.77 | ||||
| 137 | 138 | 1 | 6.85 | |||||
| 22IBRC003 | 104 | 113 | 9 | 4.49 | ||||
| 120 | 140 | 20 | 3.05 | 4m composites | ||||
| 22IBRC004 | No significant intersection | |||||||
| 22IBRC005 | 38 | 60 | 22 | 2.47 | Includes 4m composites | |||
| Including | 39 |
43 | 4 | 6.68 | ||||
| 22IBRC006 | 0 | 120 | 120 | No significant intersection | ||||
| 22IBRC007 | 104 | 118 | 14 | 4.25 | ||||
| Including | 108 |
116 | 8 | 5.96 | ||||
| 128 | 130 | 2 | 1.33 |
E: [email protected] GREATBOULDER.COM.AU ABN 70 611 695 955
ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 9321 6037 Level 1, 51 Colin St West Perth WA 6005
ASX Announcement
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| Mulga Bill | 22MBRC001 | 91 | 92 | 1 | 0.87 | |||
|---|---|---|---|---|---|---|---|---|
| 133 | 141 | 8 | 1.78 | |||||
| Including | 133 | 134 | 1 | 4.48 | ||||
| And | 138 | 140 | 2 | 3.79 | ||||
| 155 | 156 | 1 | 0.96 | |||||
| 22MBRC002 | 136 | 138 | 2 | 0.95 | ||||
| 22MBRC003 | 82 | 87 | 5 | 8.59 | 48.85 | 0.23 | ||
| Including | 84 | 85 | 1 | 39.30 | 2.18 | 0.03 | ||
| 90 | 91 | 1 | 0.51 | 15.80 | 2.57 | Sulphide zone | ||
| 94 | 95 | 1 | 0.59 | 16.90 | 2.06 | Sulphide zone | ||
| 88 | 113 | 25 | 0.41 | 13.33 | 1.34 | Sulphide zone | ||
| Including | 88 | 101 | 13 | 0.36 | 18.59 | 2.01 | Sulphide zone | |
| 111 | 112 | 1 | 2.15 | 1.26 | 0.45 | Sulphide zone | ||
| 145 | 146 | 1 | 1.37 | 20.8 | 0.98 | |||
| 154 | 155 | 1 | 1.83 | 2.57 | 0.10 | |||
| 168 | 169 | 1 | 0.67 | 3.85 | 0.28 | |||
| 197 | 199 | 2 | 1.46 | 36.9 | 0.18 | |||
| 22MBRC004 | 93 | 95 | 2 | 1.54 | ||||
| 22MBRC005 | 68 | 72 | 4 | 0.31 | 4m composite | |||
| 76 | 80 | 4 | 0.55 | 4m composite | ||||
| 130 | 137 | 7 | 1.66 | |||||
| Including | 131 | 134 | 3 | 2.75 | ||||
| 142 | 144 | 2 | 10.75 | |||||
| 151 | 168 | 17 | 1.39 | To EOH | ||||
| 22MBRC006 | 68 | 76 | 8 | 0.29 | 4m composites | |||
| 96 | 100 | 4 | 0.21 | 4m composite | ||||
| 104 | 108 | 4 | 0.12 | 4m composite | ||||
| 120 | 123 | 3 | 1.11 | |||||
| 22MBRC007 | 84 | 88 | 4 | 0.39 | 4m composites | |||
| 0 | ||||||||
| 22MBRC008 | 72 | 80 | 8 | 1.53 | 4m composites | |||
| 83 | 84 | 1 | 3.41 | |||||
| 92 | 94 | 2 | 4.09 | |||||
| 146 | 147 | 1 | 0.95 | |||||
| 22MBRC009 | 76 | 84 | 8 | 0.62 | 4m composites | |||
| 116 | 120 | 4 | 0.32 | 4m composite | ||||
| 122 | 123 | 1 | 0.54 | |||||
| 149 | 150 | 1 | 0.63 | |||||
| 227 | 228 | 1 | 9.09 | To EOH | ||||
| Loaded Dog | 22LDRC001 | 18 | 19 | 1 | 1.20 | |||
| 49 | 52 | 3 | 0.56 | |||||
| 22LDRC002 | 48 | 52 | 4 | 0.10 | ||||
| 78 | 80 | 2 | 1.39 |
E: [email protected] GREATBOULDER.COM.AU ABN 70 611 695 955
ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 9321 6037 Level 1, 51 Colin St West Perth WA 6005
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| 93 | 94 | 1 | 0.83 | |||
|---|---|---|---|---|---|---|
| 22LDRC003 | 99 | 100 | 1 | 0.97 | ||
| 22LDRC004 | 40 | 48 | 8 | 0.51 | 4m composites | |
| 22LDRC005 | ||||||
| 22LDRC006 | 110 | 122 | 12 | 1.29 | ||
| 131 | 136 | 5 | 1.27 | |||
| 149 | 150 | 1 | 1.29 | |||
| 22LDRC007 | 91 | 93 | 2 | 0.57 | ||
| Mulga Bill | 22MBRC010 | Awaiting assay | ||||
| 22MBRC011 | 178 | 180 | 2 | 4.41 | ||
| 184 | 188 | 4 | 2.47 | 4m composite | ||
| 198 | 203 | 5 | 1.53 | |||
| 22MBRC012 | 84 | 88 | 4 | 7.02 | 4m composite | |
| 92 | 96 | 4 | 0.12 | 4m composite | ||
| 114 | 119 | 5 | 8.67 | |||
| 169 | 170 | 1 | 2.78 | |||
| 22MBRC013 | No significant intersection | |||||
| 22MBRC014 | No significant intersection | |||||
| 22MBRC015 | 24 | 32 | 8 | 0.16 | 4m composites | |
| 84 | 92 | 8 | 0.15 | 4m composites | ||
| 100 | 108 | 8 | 0.21 | 4m composites | ||
| 110 | 111 | 1 | 0.77 | |||
| 124 | 130 | 6 | 1.41 | |||
| 133 | 134 | 1 | 0.50 | |||
| 144 | 145 | 1 | 0.54 | |||
| 155 | 156 | 1 | 0.59 | |||
| 22MBRC016 | 80 | 84 | 4 | 0.11 | 4m composite | |
| 111 | 112 | 1 | 0.50 |
Intersections shaded grey have been previously announced. Significant intersections are selected at a 0.1g/t Au cut-off for 4m composites and a 0.5g/t Au cut-off for 1m samples . EOH = end of hole.
E: [email protected] GREATBOULDER.COM.AU ABN 70 611 695 955
ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 9321 6037 Level 1, 51 Colin St West Perth WA 6005
ASX Announcement
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22 JUNE 2022
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TABLE 2: COLLAR DETAILS. COORDINATES ARE IN GDA94, ZONE 50 PROJECTION.
| HoleID | Prospect | Easting | Northing | RL |
Azi | Dip | Total | Comments |
|---|---|---|---|---|---|---|---|---|
| (Mag) | Depth | |||||||
| 22MBRC001 | Mulga_Bill | 658542 | 7059998 | 518 |
270 | -60 | 162 | |
| 22MBRC002 | Mulga_Bill | 658603 | 7059998 | 517 |
270 | -60 | 160 | |
| 22MBRC003 | Mulga_Bill | 658503 | 7060350 | 516 |
270 | -60 | 210 | |
| 22MBRC004 | Mulga_Bill | 658454 | 7060351 | 516 |
270 | -60 | 162 | |
| 22MBRC005 | Mulga_Bill | 658508 | 7060152 | 517 |
270 | -60 | 168 | |
| 22MBRC006 | Mulga_Bill | 658482 | 7060527 | 517 |
270 | -60 | 200 | |
| 22MBRC007 | Mulga_Bill | 658275 | 7060800 | 517 |
88 | -60 | 210 | |
| 22MBRC008 | Mulga_Bill | 658546 | 7060051 | 520 |
270 | -60 | 151 | |
| 22MBRC009 | Mulga_Bill | 658583 | 7060049 | 516 |
270 | -60 | 228 | |
| 22IBRC001 | Ironbark | 660093 | 7059001 | 520 |
90 | -60 | 42 | Hole abandoned at 42m |
| 22IBRC001A | Ironbark | 660094 | 7059000 | 518 |
90 | -60 | 120 | |
| 22IBRC002 | Ironbark | 660048 | 7059005 | 515 |
90 | -60 | 150 | |
| 22IBRC003 | Ironbark | 660060 | 7058911 | 524 |
90 | -60 | 144 | |
| 22IBRC004 | Ironbark | 660061 | 7059100 | 519 |
90 | -60 | 144 | |
| 22IBRC005 | Ironbark | 660123 | 7059100 | 507 |
90 | -60 | 102 | |
| 22IBRC006 | Ironbark | 660107 | 7059221 | 506 |
90 | -60 | 120 | |
| 22IBRC007 | Ironbark | 660040 | 7058803 | 522 |
90 | -60 | 150 | |
| 22MBRC010 | Mulga_Bill | 658714 | 7060320 | 518 |
270 | -60 | 208 | |
| 22MBRC011 | Mulga_Bill | 658723 | 7060342 | 516 |
270 | -60 | 225 | |
| 22MBRC012 | Mulga_Bill | 658312 | 7060946 | 516 |
90 | -60 | 186 | |
| 22MBRC013 | Mulga_Bill | 658341 | 7061284 | 516 |
270 | -60 | 150 | |
| 22MBRC014 | Mulga_Bill | 658722 | 7061398 | 516 |
270 | -65 | 99 | |
| 22MBRC015 | Mulga_Bill | 658396 | 7061799 | 510 |
270 | -65 | 168 | |
| 22MBRC016 | Mulga_Bill | 658459 | 7061799 | 509 |
270 | -60 | 170 | |
| 22LDRC001 | Loaded Dog | 658556 | 7058850 | 513 |
270 | -60 | 156 | |
| 22LDRC002 | Loaded Dog | 658607 | 7058850 | 514 |
270 | -60 | 168 | |
| 22LDRC003 | Loaded Dog | 658658 | 7058851 | 514 |
270 | -60 | 162 | |
| 22LDRC004 | Loaded Dog | 658545 | 7058751 | 513 |
270 | -60 | 160 | |
| 22LDRC005 | Loaded Dog | 658595 | 7058750 | 513 |
270 | -60 | 160 | |
| 22LDRC006 | Loaded Dog | 658648 | 7058750 | 513 |
270 | -60 | 160 | |
| 22LDRC007 | Loaded Dog | 658696 | 7058749 | 514 |
270 | -60 | 127 | Hole abandoned at 127m |
E: [email protected] GREATBOULDER.COM.AU ABN 70 611 695 955
ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 9321 6037 Level 1, 51 Colin St West Perth WA 6005
ASX Announcement
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22 JUNE 2022
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APPENDIX 1 - JORC CODE, 2012 EDITION TABLE 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
| Criteria | Commentary |
|---|---|
| Sampling techniques | RC samples were collected into calico bags over 1m intervals using a cyclone splitter. The residual bulk samples are placed in lines of piles on the ground. 2 cone splits are taken off the rig splitter for RC drilling. Visually prospective zones were sampled over 1m intervals and sent for analysis while the rest of the hole was composited over 4m intervals by taking a spear sample from each 1m bag. |
| Drilling techniques | RC Drilling was undertaken by K-Drill. Industry standard drilling methods and equipment were utilised. |
| Drill sample recovery | Sample recovery data is noted in geological comments as part of the logging process. Sample condition has been logged for every geological interval as part of the logging process. Significant ground water was encountered in drilling which resulted in numerous wet samples. No quantitative twinned drilling analysis has been undertaken. |
| Logging | Geological logging of drilling followed established company procedures. Qualitative logging of samples includes lithology, mineralogy, alteration, veining and weathering. Abundant geological comments supplement logged intervals. |
| Sub-sampling techniques and sample preparation |
1m cyclone splits and 4m speared composite samples were taken in the field. Samples were prepared and analysed at ALS Laboratories Perth. Samples were pulverized so that each samples had a nominal 85% passing 75 microns. Au analysis was undertaken using Au-AA26 involving 50g lead collection fire assay and Atomic Adsorption Spectrometry (AAS) finish. |
| Quality of assay data and laboratory tests |
All samples were assayed by industry standard techniques. |
| Verification of sampling and assaying |
The standard GBR protocol was followed for insertion of standards and blanks with a blank and standard inserted per 40 samples. No QAQC problems were identified in the results. No twinned drilling has been undertaken. |
| Data spacing and distribution |
The spacing and location of the majority of drilling in the projects is, by the nature of early exploration, variable. The spacing and location of data is currently only being considered for exploration purposes. |
| Orientation of data in relation to geological structure |
Drilling is dominantly perpendicular to regional geological trends where interpreted and practical. True width and orientation of intersected mineralisation is currently unknown or not clear. The spacing and location of the data is currently only being considered for exploration purposes. |
| Sample security | GBR personnel were responsible for delivery of samples from the drill site to the courier companies dispatch center in Meekatharra. Samples were transported by Toll Ipec from Meekatharra to the laboratory in Perth. |
| Audits or reviews | Data review and interpretation by independent consultants. |
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
| Criteria | Commentary |
|---|---|
| Mineral tenement and | Side Well tenement E51/1905 is a 48-block exploration license covering an area of 131.8km2 |
| land tenure status | immediately east and northeast of Meekatharra in the Murchison province. The tenement is a 75:25 |
| joint venture between Great Boulder and Zebina Minerals PtyLtd. | |
| Exploration done by | Tenement E51/1905 has a protracted exploration history but is relatively unexplored compared to |
| other parties | other regions surrounding Meekathara. |
| Geology | The Side Well tenement group covers a portion of the Meekatharra-Wydgee Greenstone Belt north |
| of Meekatharra, WA. The north-northeasterly trending Archaean Meekatharra-Wydgee Greenstone |
ASX Code: GBR Contact: Andrew Paterson, Managing Director E: [email protected] GREATBOULDER.COM.AU P: +61 8 9321 6037 Level 1, 51 Colin St West Perth WA 6005 ABN 70 611 695 955
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| Belt, comprises a succession of metamorphosed mafic to ultramafic and felsic and sedimentary rocks | |
|---|---|
| belonging to the Luke Creek and Mount Farmer Groups. | |
| Over the northern extensions of the belt, sediments belonging to the Proterozoic Yerrida Basin | |
| unconformably overlie Archaean granite-greenstone terrain. Structurally, the belt takes the form of | |
| a syncline known as the Polelle syncline. Younger Archaean granitoids have intrusive contacts with | |
| the greenstone succession and have intersected several zones particularly in the Side Well area. | |
| Within the Side Well tenement group, a largely concealed portion of the north-north-easterly | |
| trending Greenstone Belt is defined, on the basis of drilling and airborne magnetic data, to underlie | |
| the area. The greenstone succession is interpreted to be tightly folded into a south plunging syncline | |
| and is cut by easterly trending Proterozoic dolerite dykes. | |
| There is little to no rock exposure at the Side Well prospect. This area is covered by alluvium and | |
| lacustrine clays, commonly up to 60 metres thick. | |
| Drill hole Information | A list of the drill hole coordinates, orientations and intersections reported in this announcement are |
| provided as an appended table. | |
| Data aggregation | Results were reported using cut-off levels relevant to the sample type. For composited samples |
| methods | significant intercepts were reported for grades greater than 0.1g/t Au with a maximum dilution of |
| 4m. For single metre splits, significant intercepts were reported for grades greater than 0.8g/t Au | |
| with a maximum dilution of 2m. | |
| A weighted average calculation was used to allow for bottom of hole composites that were less than | |
| the standard 4m and when intervals contain composited samples plus 1m split samples. | |
| No metal equivalents are used. | |
| Relationship between | The orientation of structures and mineralisation is not known with certainty, but majority of the |
| mineralisation widths | drilling drilling was conducted using appropriate perpendicular orientations for interpreted |
| and intercept lengths | mineralisation. Diamond drilling has confirmed a mineralised intrusive body at Side Well has a near |
| vertical dip and trends broadly north-south. Due to the wide spacing of drill lines exact orientation is | |
| not clear. | |
| Diagrams | Refer to figures in announcement. |
| Balanced reporting | It is not practical to report all historical exploration results from the Side Well project. Selected |
| historical intercepts have been re-reported by GBR to highlight the prospectivity of the region. Full | |
| drillhole details can be found in publicly available historical annual reports. | |
| Other substantive | Subsequent to Doray Minerals Limited exiting the project in 2015, private companies have held the |
| exploration data | ground with no significant work being undertaken. |
| Further work | Further work is discussed in the document. |
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