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Great Boulder Resources encouraged by interest in intrusive-related nickel exploration projects

Analysis has revealed that nickel values at Mt Carlon's Eastern Zone anomaly are not associated with sulphide mineralisation.

Great Boulder Resources Ltd - Great Boulder Resources drilling results at Mt Carlon indicates nickel grades are not anomalous
The company’s broader exploration strategy remains unchanged

Great Boulder Resources Ltd (ASX:GBR) is encouraged by recent increased interest in intrusive-related nickel exploration projects as it continues to examine the nickel prospectivity of the Yamarna region of WA.

The company's managing director Andrew Paterson said the interest had focused the market’s attention on companies applying sound geological principles to their projects.

He said that while reconnaissance drilling and subsequent multi-element geochemistry at the Mt Carlon project had indicated that nickel grades were not anomalous, the company still held a positive view on the nickel prospectivity of the broader Yamarna region.

At Mt Carlon, a first-pass program consisting of a single fence of 100-metre-deep RC holes was drilled across the centre of a large, linear chargeable IP anomaly, to test for the presence of disseminated nickel sulphides.

Analysis of the multi-element geochemistry revealed the nickel values are strongly correlated with those for chromium, indicating the nickel is contained within olivine not sulphides.

However, the company believes chargeable anomalies are one characteristic of disseminated sulphide bodies, a hypothesis that was supported by elevated nickel values in shallow aircore drilling over an ultramafic unit.

“Broader exploration strategy unchanged”

Paterson said: “We are using a different geological model for this target at Mt Carlon, based on our assessment of the geophysical response combined with the geochemical and geological indicators.

“Our other copper-nickel sulphide targets at Mt Venn and Eastern Mafic have proven the value of EM surveys in the Yamarna Belt, so our broader exploration strategy remains unchanged.

“It’s also good to note the increased interest recently in intrusive-related nickel exploration projects, like Julimar north of Perth.”

Great Boulder project locations.

Exploration ongoing

The company is continuing exploration work at its other projects, with fieldwork ongoing at the Whiteheads Gold Project and a SQUID EM survey to be completed shortly at the Mt Jewell Nickel Project.

Quick facts: Great Boulder Resources Ltd

Price: 0.05 AUD

Market: ASX
Market Cap: $9.4 m

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