MC - $23.65 million
SOI - 70 million
Share price - $0.335
Great Boulder Resources (GBR) has two main projects, viz Mt Venn east of Laverton in the eastern goldfields and Jundee South that is entirely surrounded by Northern Star's sensational (my words) Jundee project.
Mt Venn is a very large and complex but broad copper, nickel and cobalt play. The dominant metal appears to be copper. Last week, GBR announced a recent gravity survey has located a significant intrusion 7 kilometres to the east of the Mt Venn complex. The intrusion appears to be extremely large -- measuring 4km long (north-south) by 3km wide (east-west), and extends several kilometres further along structures to the west and south.
The Eastern Mafic intrusion has more than doubled Great Boulder’s exploration footprint at Mt Venn. The gravity survey was initiated following positive exploration results from Mt Venn where extensive copper-nickel-cobalt sulphide mineralisation has been delineated over several kilometres. Previous exploration on the Eastern Mafic complex was limited to shallow RAB drilling for gold with no analysis for base metals or bedrock geochemistry.
Great Boulder Managing Director Stefan Murphy said GBR will now fast-track exploration of the Eastern Mafic complex. “These results have opened up immense new potential at Mt Venn and could prove to be a game-changer at every level,” Mr Murphy said. “From limited sampling completed over the Eastern Mafic complex, we can see distinct mafic units with evidence of nickel-copper depletion and a separate suite of mafic rocks with elevated nickel-copper-cobalt and MgO. “This geochemistry provides evidence the Eastern Mafic complex is part of the broader Mt Venn complex, but located in a different setting. The results of the gravity survey have shown we are in a much larger system than previously thought, with the Eastern Mafic complex potentially representing an earlier-stage conduit or feeder structure that is prospective for nickel sulphide mineralisation.”
As most here would know, the largest nickel deposits on the planet typically have this feeder and "neck" structure. I hold GBR and have bought for me at least what is a sizeable top-up since the announcement of the Eastern Mafic Intrusion discovery last week. With only 70 million shares on issue and the register tightly held it has been difficult to acquire a sizeable package and patience in accumulating is required of course.
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