Ya­marna re­sults hit Great Boul­der

Kalgoorlie Miner - - NEWS - Josh Chiat

In­vestors have hit the sell but­ton on the first drilling re­sults from Great Boul­der Re­sources’ newly ac­quired Ya­marna project, but the com­pany has hailed them as jus­ti­fi­ca­tion for its push to con­sol­i­date a vast land­hold­ing tar­get­ing cop­per and nickel in the re­mote Great Vic­to­ria Desert.

The ex­plorer has picked up two ad­di­tional projects near its Mt Venn cop­per-nickel dis­cov­ery, 150km east of Laver­ton, in re­cent months.

One of them was Aus­gold’s Ya­marna project, 40km north of Mt Venn, which con­tains the Winch­ester prospect and is sub­ject to an earn-in deal which could see Great Boul­der take a 75 per cent stake by fund­ing $500,000 in ex­plo­ration over the next four years.

Great Boul­der man­ag­ing di­rec­tor Ste­fan Mur­phy was en­cour­aged by re­sults from ini­tial drilling, which struck grades of more than one per cent cop­per at Winch­ester.

He also said the com­pany was “clos­ing in” on a higher-grade part of the Eastern Mafic ore sys­tem at Mt Venn af­ter strik­ing grades of more than 3.1 per cent cop­per and 0.6 per cent nickel at its Cortina prospect.

Great Boul­der shares fell 1¢, or 5.3 per cent, to 18¢ yes­ter­day, hav­ing climbed as high as 50¢ a year ago in a more buoy­ant mar­ket.

But the re­sults came as good news for Aus­gold, which has ceded man­age­ment of the project to Great Boul­der af­ter for­mal­is­ing the joint ven­ture to nar­row its fo­cus on the Katan­ning gold project in WA’s Great South­ern.

Aus­gold man­ag­ing di­rec­tor Matthew Green­tree said the com­pany was look­ing for­ward to a big­ger­scale ex­plo­ration cam­paign tak­ing place at the project.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.