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Great Boulder Resources sharpens focus on gold-nickel, cuts Tarmoola

The company will consolidate from five to four projects in Western Australia with a focus on gold and nickel.

Great Boulder Resources Ltd - Great Boulder Resources sharpens focus, cuts Tarmoola
The four remaining projects are Whiteheads, Mt Carlon, Yamarna, and Winchester

Great Boulder Resources Ltd (ASX:GBR) has completed an exploration review resulting in it withdrawing from the Tarmoola Gold Project in Western Australia.

The company’s managing director Andrew Paterson said: “Over the past three years the company has done a lot of good technical work on Tarmoola and thoroughly tested the area for both gold and nickel.

“But the strong prospectivity of our other projects has resulted in the decision to withdraw from Tarmoola and concentrate time and expenditure on these other areas.”

Gold target generation underway at Whiteheads

Gold exploration will continue at Whiteheads, with target generation activity such as airborne aeromagnetics, mapping, structural interpretation and further multi-element auger sampling.

This will be followed by broad-spaced air-core drilling and then RC drilling.

Nickel focus at Mt Carlon and Winchester

Nickel exploration is underway at Mt Carlon and Winchester, as well as the new Mt Jewell Project next to Whiteheads.

Priorities at Mt Carlon will be determined by the results from the current RC drilling program, while Winchester will be a combination of extensional exploration at the Winchester prospect plus regional reconnaissance on other prospects nearby.

Initial work at Mt Jewell is likely to be a moving-loop electromagnetic (EM) survey to generate drill targets.

Yamarna remains a core asset, however, no immediate drilling is planned given the exploration program underway.

Quick facts: Great Boulder Resources Ltd

Price: 0.05 AUD

Market: ASX
Market Cap: $9.4 m

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