Great Boulder Resources Limited has announced new exploration progress at its flagship Side Well Gold Project located near Meekatharra in Western Australia. Their latest induced polarization (IP) survey, carried out in July 2025 over 18.3 line-kilometres, has identified multiple shallow chargeability anomalies that may indicate previously untested gold targets. The survey, conducted using a pole-dipole array with receiver dipoles set at 100m and transmitter separations extending up to 7km, revealed anomalies along a 3km strike length north of the Mulga Bill deposit and along the eastern corridor of the Ironbark prospect. In addition, a new conceptual target corridor has been identified between the Mulga Bill and Ironbark areas, where coincident chargeability and density anomalies, supported by gravity data suggest the presence of gold mineralisation similar to what is seen at established deposits. The company’s technical team has connected these recent findings to earlier IP survey results from 2022, which successfully highlighted the chargeable pyrite zone associated with gold at Mulga Bill and Eaglehawk. With these encouraging results, Great Boulder Resources Limited has planned high-impact discovery drilling, supported by a second drill rig scheduled to mobilise in late August. This additional rig is intended to accelerate both ongoing resource definition drilling at the Eaglehawk and Ironbark corridors, and to initiate first-pass drilling on these new greenfields targets. The company also plans to advance further testing, including aircore drilling on newly identified shallow anomalies and geotechnical studies on the Ironbark pit. Market sentiment surrounding this announcement appears to be mixed. On the bullish side, the discovery of multiple new gold targets and a new conceptual corridor supports a stronger pipeline of exploration prospects in an area that already hosts a robust Mineral Resource Estimate of 668,000 ounces of gold. The planned acceleration of drilling programs and additional rig mobilisation signal management’s commitment to unlocking more value from the project, which could lead to an expanded resource base and further improvements in project economics. Additionally, the use of rigorous technical methods and the integration of data from IP, gravity, magnetics, and geochemical surveys add confidence in these exploration results. Conversely, a bearish view might point to the inherent exploratory risks that remain. The interpretation of IP anomalies, while promising, requires further drill testing to confirm gold mineralisation and delineate resource extent. There is also uncertainty regarding the geological complexity in the new target corridor and mafic-ultramafic units north of Ironbark. Moreover, history shows that some drilling in the area has been widely spaced or not optimally targeted, which underlines the challenges of effectively testing these new anomalies. As such, investors might be cautious until further drilling results validate the technical interpretations and support an increase in the resource estimate.