Under the Yamarna Joint Venture Agreement, the Company has the right to earn a 75% interest in the Yamarna Project by funding exploration expenditure of $2,000,000 over a 5 year period.
Early work at the Yamarna Project indicates significant potential for gold and Ni-Cu-PGE mineralisation, with the project containing similar internal granite suites to that which host the Gruyere deposit.
The Yamarna Project hosts the southern section of the Mount Venn Igneous Complex, a layered mafic-ultramafic complex within which historic exploration to the north has returned anomalous values for nickel and copper, and minor anomalism for PGEs & gold.
Great Boulder re-assayed a water bore (15GYWB004) drilled by Gold Road Resources in 2015 into a large EM conductor and showed that sulphide copper-nickel-cobalt mineralisation is the source of the anomaly. Assays returned grades of up to 1.7% copper, 0.2% nickel and 528ppm cobalt.
Great Boulder completed a heritage survey with traditional owners in May 2017 in preparation for the follow-up ground EM surveys and further drilling.