WA explorer Great Boulder Resources is entering the sweet spot of rapid value creation for investors, with exceptional drilling results underpinning its plan for rapid resource growth over the next six months (reports MiningNews). 

This will set up the company, which has a market capitalisation of just A$185 million, to drive production and cashflow under its valuable ore purchase agreement with neighbour Westgold Resources.

The Westgold arrangement separates Great Boulder from the majority of Australian gold explorers, which face the unenviable task of having to find and build an expensive processing plant.

Great Boulder has rapidly established a 1Moz resource at 2.0gpt at its Side Well project near Meekatharra.

Since completing this resource in 2025, it has released a stream of outstanding drilling results that support its plan to grow the inventory to 1.5Moz in the near term.

And now it has as second, game-changing project just 100km away thanks to its acquisition of the Peak Hill project from Westgold in July this year.

The deal saw Westgold become Great Boulder’s biggest shareholder with a 19.9% stake. The purchase also came with a pivotal ore purchase agreement under which Great Boulder can dig up its ore, truck it 120km to Westgold’s Bluebird mill and literally sell it by the truckload.

In just two months since the acquisition, Great Boulder has generated a wealth of outstanding drilling results, which points to substantial growth in the 481,000oz resource.

Recent results include:

·       12m @ 8.56gpt Au from 8m

·       8m @ 9.00gpt Au from 76m

·       20m @ 2.73gpt Au from 90m

·       10m @ 9.18gpt Au from 137m

·       13m @ 1.96gpt Au from 91m

·       8m @ 5.67gpt Au from 148m

·       6m @ 4.73gpt Au from 155m

Great Boulder Managing Director Andrew Paterson said the results show the company is on track to establish a 1Moz resource at Peak Hill this calendar year.

“We are extending the known mineralisation in several places and identifying it in new areas as well,” Paterson said. “And we are intersecting it over robust widths and at strong grades, all of which support our strategy for rapid resource growth.

“We expect to publish a substantial resource update in the coming quarter and will then start mining studies and permitting while continuing to drill in search of more inventory growth.

“Our ore purchase agreement with Westgold gives us a simple, fast, low-cost route to production and cashflow, which will transform the company very quickly.

“It means we can avoid the dreaded Lassonde curve, which drags down so many miners as they get caught in the development phase between resource growth and cashflow.

“We will be able to retain our strong focus on unlocking the huge upside at Peak Hill by driving further increases in the resource while taking the fast route to production.”

The Peak Hill gold project | Credits: Great Boulder Resources

There is also scope to extend Great Boulder’s arrangement with Westgold to Side Well, with a framework in place to negotiate a similar ore purchase agreement for that project.

“We have two projects hosting around 1.5Moz and, based on the drilling results, every reason to believe we can rapidly add 1Moz to this total,” Paterson said.

“We have $18m cash and 4 drilling rigs on the case. We have an excellent handle on the geology and the results reflect this.

“With strong ongoing newsflow and a clear, low-cost pathway to production and cashflow, I have no doubt that Great Boulder is on the cusp of a major transformation.”