Great Boulder’s Mt Venn find attracts growing investor attention
8th December 2017
Resources Rising Stars
Great Boulder Resources (ASX: GBR) was a hot subject among investors on the East Coast this week as the company presented the details of its new Mt Venn copper-nickel-cobalt discovery in WA.
Great Boulder shares have risen from 13c to around 40c in recent weeks on the back of the news that it has made a significant discovery at Mt Venn.
But despite this rise, the company still has a market capitalisation of just $26 million, reflecting in part the fact that the discovery is still in its infancy.
Great Boulder Managing Director Stefan Murphy told hundreds of investors at the Resources Rising Stars Summer Series that Mt Venn was a “very, very large system”.
But just how large is unknown. Murphy said the initial results were “very exiting”, with mineralisation already outlined over a 2.5km length.
However, there is another 6.5km of strike length containing numerous conductors similar to those which have returned the results seen so far.
“We have a very, very large system,” Murphy said. “And we have only been exploring there for three months.
“We are very, very excited about Mt Venn. We have 9km of strike and the mineralisation is completely open.
“We have only scratched the surface.”
The maiden RC drilling program at Mt Venn has returned wide zones of copper-nickel-cobalt massive sulphides grading up to 4.3 per cent copper and 0.1 per cent cobalt.
Diamond drilling and the phase 2 RC program are now underway, with strong newsflow set to continue for several months.
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