As announced GBR will commence a deep drilling program into the nickel rick neck at the eastern mafic in January. This drilling is significant and could be a game changer.
As we edge closer to drilling, selling will dissipate and buyers will need to chase it considerably higher.
Investors not familiar with the stock should take the time to research past announcements to understand the history, scale and true potential of this exciting project, but for now an extract from the current announcement:
EIS drilling grant has been awarded to GBR by the Government of Western Australia to target the core of the Eastern Mafic intrusion.
Great Boulder Resources (ASX:GBR) is pleased to advise that it will embark on a deep drilling program at the Eastern Mafic nickel-copper-cobalt deposit after completing a revised geological interpretation based on the latest drilling and geophysical results.
The deeper drilling is aimed at testing the core of the Eastern Mafic intrusion, where the conduit system and primary target for high-grade nickel sulphide is interpreted to be located.
Drilling to date has therefore only intersected the top of the intrusion, leaving the main body of the intrusion untested.
The near surface EM conductors are typically low nickel tenor, however they represent the top of the intrusion. Where drilling has tested below these conductors, particularly at Zermatt, ML13 and Ben Lomond, a second more nickel-rich unit is intersected. The evidence of multiple magma pulses with increasing nickel tenor at depth supports the potential for further magma pulses within the core of the intrusion to host more nickel-rich sulphide mineralisation.
GBR Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
