Just the Facts: Great Boulder secures more time to explore gold projects [Video]

Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest news from Great Boulder Resources Ltd (ASX:GBR).

The company has been granted a 12-month extension to its Heads of Agreement (HoA) with Castle Minerals Ltd, allowing continued exploration of the Polelle and Wanganui projects near Meekatharra, Western Australia.

These areas, considered prospective for gold mineralisation, are near GBR’s Side Well Project, which hosts a 668,000-ounce gold resource at 2.8 g/t.

The original HoA, signed in November 2023, gave GBR a 12-month option to explore and decide on acquiring a 75% joint venture interest.

Due to delays in completing heritage surveys in 2024, GBR requested and received an extension until November 30, 2025. Castle Minerals also waived the second option fee of $100,000.

Under the agreement, GBR will commit to a minimum cumulative exploration expenditure of $600,000 across the projects during the two-year term.

All other key terms, including a $100,000 …