Great Boulder Resources Outlines 1.50Moz Total JORC Resource and Dual-Hub Murchison Growth Strategy

Shwetambri Chauhan

12 November 2026 10:15 AM AEDT

Great Boulder Resources Outlines 1.50Moz Total JORC Resource and Dual-Hub Murchison Growth Strategy

Image Source: Krish Capital Pty Ltd

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Great Boulder Resources (ASX:GBR) has released a company update outlining a total JORC resource of 1.50 million ounces of gold across its dual-hub Murchison gold portfolio in Western Australia, anchored by the Side Well project at 1.02Moz at 2.0 grams per tonne and the Peak Hill project at 481,000 ounces at 1.6 grams per tonne, with a targeted "Mining Ready" status by mid-2027.

Key Points

Total JORC resource of 1.50Moz Au across Side Well and Peak Hill projects in WA's Murchison region
Side Well high-grade core (Mulga Bill) of 441koz at 5.3g/t Au, with a resource ounce discovery cost of $24 per ounce
Major 60,000m drilling program underway across both projects, with up to six drill rigs active
Market capitalisation of $118 million at 6.0 cents per share, with cash of $12 million as at 30 September 2026
Ore Purchase Agreement with Westgold Resources, which holds a 19.9% stake, provides access to nearby processing infrastructure including the Bluebird Mill 25km from Side Well

Dual-Hub Project Portfolio and Resource Base

The company's Murchison portfolio comprises two principal projects. The Side Well Gold Project holds a Mineral Resource Estimate of 16.0Mt at 2.0g/t Au for 1.02Moz, located 25km from Westgold Resources' Bluebird Mill. Within Side Well, the Mulga Bill deposit contains a high-grade core of 441koz at 5.3g/t Au. The Peak Hill Gold Project holds a Mineral Resource Estimate of 9.4Mt at 1.6g/t Au for 481,000 ounces, situated 50km from the Fortnum processing facility. The filing states Peak Hill has a history of more than 900,000 ounces of historic high-grade gold production, last mined in 1997, and that Aboriginal heritage and Native Title Mining Agreements are in place.

60,000-Metre Drilling Program and Recent Intersections

Great Boulder Resources disclosed a 60,000-metre drilling program currently underway, allocating 40,000 metres to Peak Hill and 20,000 metres to Side Well, with up to six rigs active. At Peak Hill's Golden Treasure prospect, drilling returned intersections including 8m at 39.9g/t Au from 58 metres, described in the filing as the highest-grade intersection drilled to date at Peak Hill. The Durack prospect returned results including 11m at 6.36g/t Au from surface and 4m at 37.1g/t Au from 110 metres. At the Jubilee prospect, results included 3m at 29.4g/t Au from 39 metres. The filing states shallow, high-grade gold at Durack has been defined over more than 1.5km of strike.

Capital Structure, Timeline and Strategic Partnership

The company's enterprise value is stated at $106 million, with a market capitalisation of $118 million at 6.0 cents per share and a cash position of $12 million as at 30 September 2026. Westgold Resources holds 19.9% of the company, with total institutional backing disclosed at 25.7%. A strategic Ore Purchase Agreement with Westgold provides access to the Bluebird Mill, Fortnum, and Tuckabianna processing facilities. The filing outlines a milestone timeline targeting updated Peak Hill JORC Mineral Resource Estimate in the second half of 2026, "Mining Ready" status by the first half of 2027, and target commencement of gold production by end of 2027.

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