Great Boulder Resources (ASX:GBR) has commenced a Scoping Study for the Ironbark gold deposit, part of the broader Side Well Project in Western Australia. The study, conducted by Entech, will evaluate the economics of an open pit mine utilizing a toll treatment model at nearby gold processing plants within a 50km radius. This approach aims to minimize capital investment and accelerate revenue generation.
The Scoping Study will refine the open pit design and develop a mining schedule and cashflow model. The company anticipates the study will take six to eight weeks to complete. Managing Director Andrew Paterson views this study as a key step in transitioning from discovery to development and mining. Great Boulder aims to demonstrate the potential of high-grade deposits within the Eastern Corridor at Side Well.
The company also reported outputs from the Ironbark study will be shared with Monument Mining (TSX-V:MMY) for use in their economic assessment for re-starting the Burnakura carbon-in-leach process plant. Great Boulder is aiming to deliver a 1 million ounce gold resource at Side Well this year. In addition, aircore drilling is ongoing at the Eaglehawk prospect, while an updated resource estimate for the Mulga Bill deposit is expected in May 2025.