Great Boulder kicks off 40,000m drilling at Peak Hill gold project

"Extensive high-grade mineralisation has already been identified outside the resource and we have some compelling new targets to test," Paterson said. "Achieving first drilling within a fortnight of completing the acquisition is testament to the skills of our exploration team."

The company has a Mining & Heritage Agreement with the Jidi Jidi Aboriginal Corporation covering the Peak Hill project.

Separately, Great Boulder continues drilling at Side Well with one diamond and one AC rig operating. A further RC rig is expected to mobilise in August. The company has scheduled 20,000 metres of drilling at Side Well in the current half year.

GBR traded at 6.7 cents before the open, giving a market capitalisation of $105.3 million.