Great Boulder Resources provided an update on recent exploration activity at the Side Well Gold Project ("Side Well") near Meekatharra in Western Australia. During December GBR personnel completed infill sampling over 5km of strike north of Ironbark. This area had previously been sampled on a 400m by 50m grid, with infill lines completed to close the grid cell size to 200m by 50m. The geochemistry from recently completed auger sampling has confirmed two multi-point gold anomalies north of Ironbark within the same mafic-ultramafic sequence as the Ironbark discovery. The target is also supported by a similar pathfinder association as Mulga Bill and highlighted by a large high-tenor bismuth and arsenic anomaly as well as broad zones of elevated copper. Also, in December, GBR field geologists took more vein and host rock samples from an area of old workings in the Ironbark South area. This area, referred to in historic reports as the Jones prospect, has been renamed the Saltbush prospect to avoid confusion with the Jones Well area at the north end of Side Well. The niche sampling program confirmed gold in smoky quartz assaying up to 14.85g/t Au as well as elevated gold in the surrounding country rock. These assays confirm the presence of gold at or close to surface in this area, which is not obscured by alluvial cover and does not appear to
have a zone of near-surface gold depletion. This bodes well for exploration targeting, and also for the potential economics of any future discoveries made in the area. Three RC holes were drilled at Saltbush in 1986 by Esso Australia Ltd. and reported in their 1987 annual technical report for the Sherwood Project (LG Dudfield, WAMEX report A20430). Hole SJP002 intersected 3m @ 7.42g/t Au from 14m and 1m @ 1.35g/t Au from 22m. The hole ended at
58m in weathered ultramafic. The reported collar coordinates use an obsolete local grid system for which there is no conversion to GDA94, but some collars are still intact and other positions can be inferred by geo-referencing maps from the 1987 Esso report. This will allow GBR to identify hole SJP002 with a reasonable level of confidence for follow-up drill testing. Great Boulder intends to commence AC drill testing on priority drill targets north and south of Ironbark as soon as heritage surveys are completed and clearances received. In the meantime, the Company is continuing extensional and infill drilling at Ironbark and Mulga Bill, as well as ongoing exploration around the Flagpole prospect at the southern end of the Mulga Bill corridor.