Great Boulder Resources (ASX: GBR) has intersected broad zones of shallow copper-nickel-cobalt mineralisation over an extensive strike length at its Yamarna Project east of Laverton in Western Australia.
The company said results from the first nine holes of initial reconnaissance RC drilling reveal the presence of a wide zone of primary, near-surface copper-nickel-cobalt sulphide mineralisation which remains open in all directions.
Great Boulder Managing Director Stefan Murphy said mineralisation is copper-dominant with discrete nickel-cobalt-rich zones. He added that the cobalt grades are considerably higher than anticipated based on previous Gold Road drilling and Great Boulder geochem Mr Murphy said the results showed the company has made a significant discovery at Mt Venn.
“To achieve such intersections of cobalt, copper and nickel from the first nine holes is simply outstanding,” Mr Murphy said.
“Given that we are conducting scout drilling over a strike length of 7.5km, it is remarkable to have intersected such widths and grades from these initial holes.
“As with any initial drilling program over such a vast area, it is a needle-in-a-haystack exercise. The potential at Mt Venn is becoming very apparent, with knowledge gained from recent drilling and an improved understanding of the ore-forming systems further confirming the prospectivity of the project.”
“We look forward to receiving the remaining results and have commenced down hole EM ahead of our next phase of targeted diamond and RC drilling in December,” he said.
Mr Murphy acknowledged the support provided by the WA Government’s Exploration Incentive Scheme which provided co-funding for the Mt Venn project.
“The EIS has allowed Great Boulder to fund exploration in a greenfield area and deliver on the EIS objectives of making new mineral discoveries which create employment opportunities.”