It's a good day overall on the markets today, with the All Ordinaries Index (ASX: XAO) up 1.85% in afternoon trading.
But this little known ASX gold share is leaving those gains in the dust.
We're talking about Great Boulder Resources Ltd (ASX: GBR), which is up 9.89% at the time of writing after earlier posting gains of more than 15%.
Here's what's piquing ASX investor interest.
Image source: Getty Images
What's sending this ASX gold share higher?
The Great Boulder Resources share price is leaping higher after the company reported it has identified a new high-grade gold lode at its Side Well Gold Project, located in Western Australia.
The results come from an area close by the Mulga Bill High-Grade Vein, where Great Boulder has struck significant gold intersections in recent drilling.
The results of the new drill hole, the first drilling in that location, returned 6 metres at 25.83 grams/tonne of gold from 268 metres.
Commenting on the Mulga Bill drill results sending the ASX gold share higher today, Great Boulder Resources managing director, Andrew Paterson said:
There are two results of particular interest in this batch of results. Firstly, the identification of a new high-grade lode where we drilled a deep intersection of 6m @ 25.83g/t Au is a great result with exciting implications for new mineralisation.
Secondly the 3m @ 7.03g/t Au in hole 22MBRC048 sits in the gap between the HGV and Main zones at Mulga Bill, so we are hoping to define a new zone in that area to improve continuity of mineralisation between the two high-grade areas
Reverse circulation (RC) drilling is ongoing at the site, and Great Boulder expects more results in the coming weeks.
Great Boulder Resources share price snapshot
Despite today's big push higher, ASX gold share Great Boulder Resources remains down 27% in 2022. That compares to a year-to-date loss of 13% posted by the All Ordinaries.
