Great Boulder announces Ironbark progress

Great Boulder Resources (ASX: GBR) has commenced a scoping study for its Ironbark gold deposit near Meekatharra in WA.

Within the company’s flagship Side Well gold project, Ironbark hosts a mineral resource estimate (MRE) of 100,000oz at 3.3g/t gold.

Assuming a toll treatment model at a neighbouring gold processing plant, the scoping study will explore economics of open pit mining.

Engineering consultancy Entech estimates completion of the study within six to eight weeks.

Negotiations for the Ironbark mining lease application are ongoing. A detailed flora and fauna survey is also being prepared.

Great Boulder managing director Andrew Patterson says this is a pivotal moment for Great Boulder.

“The commencement of a scoping study at Ironbark represents the start of the next stage of the company’s progression from discovery to development, to mining,” he said.

Ironbark was purposefully selected for the initial study as it hosts established resources with an immediate, stand-alone, shallow, high-grade gold deposit.

“We anticipate a scoping study on Ironbark to demonstrate the robust nature of these near-surface, high-grade deposits that we’re targeting within the Eastern Corridor at Side Well,” Mr Patterson said.

“It should also clearly demonstrate that Great Boulder is seriously under-valued as we aim to build a large, high-grade gold resource in the centre of a major goldfield, surrounded by existing infrastructure.”

The company continues drilling at Eaglehawk and Side Well South, working towards a 2025 target of a 1moz gold MRE at Side Well.