Great Boulder Resources : AC Drilling Underway at Whiteheads Project

ASX Announcement

27 JANUARY 2022

For personal use only

AC DRILLING UNDERWAY

AT WHITEHEADS PROJECT

HIGHLIGHTS

• A 5,000m air-core (AC) drilling program has commenced at the Whiteheads Project
• Five regional targets will be tested, including prospects on the Arsenal Trend
• Assays received from the regional AC program completed in Sep-Oct 2021 returned several encouraging anomalous intersections similar to the early-stage drilling at Blue Poles, where thick zones of gold mineralisation were discovered beneath anomalous bottom-of-hole assays in the initial AC coverage
• RC drilling results from Side Well are due imminently and diamond drilling is scheduled to recommence next month

Great Boulder Resources ("Great Boulder" or the "Company") (ASX: GBR) is pleased to announce AC drilling is underway at the Whiteheads project ("Whiteheads") north of Kalgoorlie in Western Australia.

Approximately 5,000m of drilling is planned to continue testing five regional targets, including Blue Poles South, Tektite and Highbury on the Arsenal Trend, as well as further drilling at Jubilee North and the first drill program at the Eclipse prospect. Drilling is expected to take approximately three weeks.

Once this program is completed a diamond rig is scheduled to commence drilling at the Mulga Bill prospect at Side Well in mid-February.

Great Boulder's Managing Director, Andrew Paterson commented:

"It's good to have our field team back on the ground at Whiteheads while we continue developing drilling programs for Side Well."

"Whiteheads is a big project with dozens of priority targets, and this program continues our systematic testing that has been ongoing for the past two years."

"We're also looking forward to the upcoming diamond program at Side Well next month. By that time we should have the bulk of our 2021 assay data back, which will allow us to plan some big RC and diamond drilling programs in the months ahead."

ASX Code: GBR	Contact: Andrew Paterson, Managing Director	E: [e-mail]	GREATBOULDER.COM.AU
P: [phone]	Level 1, 51 Colin St West Perth WA 6005	ABN 70 611 695 955

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27 JANUARY 2022

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2021 AC Results

122 AC holes were drilled at Whiteheads for 5,166m in September and October 2021 testing a range of regional targets including some that had not previously been drilled. These included:

• 8 holes (439m) at Gunners on the Arsenal Trend
• 23 holes (1,127m) at Tektite, south of Blue Poles on the Arsenal Trend
• 8 holes (518m) at Highbury, on the Arsenal Trend southwest of Tektite
• 6 holes (226m) on a single fence of drilling at Reception Hill
• 57 holes (1,919m) along strike to the northwest and southeast of Seven Leaders
• 20 holes (937m) at Jubilee North.

All assays have now been received. The program generated a number of anomalous intersections, including 1m @ 2.55g/t Au from 41m in 21WHAC110 at Tektite, 4m @ 0.61g/t Au from 80m in 21WHAC128 at Jubilee North and 12m @ 0.23g/t Au from 67m in WHAC174 at Seven Leaders.

Importantly, the Tektite and Highbury results continue to add to the potential of the Arsenal Trend south of Blue Poles.

Air-core results of this type are encouraging in comparison to early-stage drilling at Blue Poles, where thick zones of gold mineralisation were discovered beneath anomalous bottom-of-hole assays in the initial AC coverage.

Significant intersections and collar coordinates are listed in Tables 1 and 2 below.

This announcement has been approved by the Great Boulder Board.

For further information contact:
Andrew Paterson	Media
Managing Director	Lucas Robinson
Great Boulder Resources Limited	Corporate Storytime
[e-mail]	[phone]
www.greatboulder.com.au	[e-mail]
Follow GBR on LinkedIn	Follow GBR on Twitter

ASX Code: GBR	Contact: Andrew Paterson, Managing Director	E: [e-mail]	GREATBOULDER.COM.AU
P: [phone]	Level 1, 51 Colin St West Perth WA 6005	ABN 70 611 695 955

ASX Announcement

27 JANUARY 2022

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FIGURE 1: A REGIONAL COMPILATION OF AC DRILLING BY GREAT BOULDER.

ASX Code: GBR	Contact: Andrew Paterson, Managing Director	E: [e-mail]	GREATBOULDER.COM.AU
P: [phone]	Level 1, 51 Colin St West Perth WA 6005	ABN 70 611 695 955

ASX Announcement

27 JANUARY 2022

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About Great Boulder Resources

Great Boulder is a mineral exploration company with a portfolio of highly prospective gold and base metals assets ranging from greenfields through to advanced exploration located in Western Australia. The Company's core focus is advancing the Whiteheads and Side Well gold projects while progressing initial exploration at the earlier stage Wellington Base Metal Project located in an emerging MVT province. With a portfolio of highly prospective assets plus the backing of a strong technical team, the Company is well positioned for future success.

FIGURE 2: GREAT BOULDER'S PROJECTS

ASX Code: GBR	Contact: Andrew Paterson, Managing Director	E: [e-mail]	GREATBOULDER.COM.AU
P: [phone]	Level 1, 51 Colin St West Perth WA 6005	ABN 70 611 695 955

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TABLE 1: SIGNIFICANT INTERSECTIONS

	Hole ID				From (m)		To (m)			Width (m)		Grade (g/t Au)				Notes
	21WHAC110	41		42			1					2.55			Tektite
	21WHAC111	48		52			4					0.23			Tektite. To EOH.
	21WHAC112	48		52			4					0.14			Tektite
	21WHAC114	52		57			5					0.15			Tektite. To EOH.
	21WHAC115	0		4			4					0.12			Tektite
	21WHAC115	54		63			9					0.11			Tektite. To EOH.
	21WHAC117	52		56			4					0.16			Tektite
	21WHAC155	8		12			4					0.16			Seven Leaders
	21WHAC173	70		71			1					0.11			Seven Leaders
	21WHAC174	67		79			12					0.23			Seven Leaders
	21WHAC179	17		18			1					0.17			Seven Leaders
	21WHAC186	46		47			1					0.12			Seven Leaders
	21WHAC187	52		54			2					0.16			Seven Leaders
	21WHAC190	60		61			1					0.19			Seven Leaders
	21WHAC191	68		72			2					0.10			Seven Leaders
	21WHAC206	40		44			4					0.13			Jubilee North
	21WHAC217	60		67			7					0.32			Jubilee North. To EOH
	21WHAC218	80		84			4					0.61			Jubilee North
TABLE 2: COLLAR DETAILS. COORDINATES ARE IN GDA94, ZONE 51.
	Hole ID				Easting		Northing				RL		Depth		Dip		Azimuth		Prospect
	21WHAC101	379734	6663299		391	73	-60			90	Gunners
	21WHAC102	379673	6663310		391	57	-60			90	Gunners
	21WHAC103	379623	6663310		389	55	-60			90	Gunners
	21WHAC104	379574	6663308		390	69	-60			90	Gunners
	21WHAC105	379730	6662898		388	48	-60			90	Gunners
	21WHAC106	379670	6662912		387	47	-60			90	Gunners
	21WHAC107	379631	6662897		387	45	-60			90	Gunners
	21WHAC108	379577	6662911		388	45	-60			90	Gunners
	21WHAC109	380297	6659703		375	40	-60			90	Tektite
	21WHAC110	380249	6659704		379	45	-60			90	Tektite
	21WHAC111	380199	6659703		380	52	-60			90	Tektite
	21WHAC112	380157	6659702		382	56	-60			90	Tektite

ASX Code: GBR	Contact: Andrew Paterson, Managing Director	E: [e-mail]	GREATBOULDER.COM.AU
P: [phone]	Level 1, 51 Colin St West Perth WA 6005	ABN 70 611 695 955