Great Boulder Resources (ASX:GBR) said an induced polarization survey identified multiple new gold targets north of existing resources at Mulga Bill and Ironbark prospects at the Side Well gold project in Western Australia, according to a Wednesday Australian bourse filing.

A new target corridor has been identified midway between Mulga Bill and Ironbark with coincident anomalous chargeability and density.

The firm is planning geotechnical studies on the Ironbark pit, including drilling diamond holes for geotechnical and metallurgical purposes.

A second air core drilling rig is mobilizing to the project in late August to start high-impact testing of targets that lie outside known prospect areas, the filing said.

The company's shares fell nearly 2% in recent Wednesday trade.