Shares in Great Boulder Resources have skyrocketed after the explorer announced a discovery at its Yamarna project east of Laverton.

Assays from nine holes of a 20-hole reverse circulation drilling campaign at the Mt Venn prospect returned grades of up to 4.3 per cent copper, 0.2 per cent nickel and 0.1 per cent cobalt.

Great Boulder said its drilling had intersected broad zones of shallow copper-nickel-cobalt mineralisation over an extensive strike length.

Managing director Stefan Murphy said the results showed the company had made a significant discovery at Mt Venn.

“To achieve such intersections of cobalt, copper and nickel from the first nine holes is simply outstanding,” he said.

“Given that we are conducting scout drilling over a strike length of 7.5km, it is remarkable to have intersected such widths and grades from these initial holes.”

Mr Murphy said the company looked forward to receiving the remaining results from its recent drilling program and had begun a downhole electromagnetic survey ahead of the next phase of targeted drilling next month.

Image: File picture.