Gold Road Resources Updates Alaric Deposit Resource
THE DRILL SERGEANT: Gold Road Resources (ASX: GOR) released an updated Mineral Resource for the Alaric Open Pit, located within the Gruyere Joint Venture tenements in Western Australia.
Gold Road Resources announced the 2012 JORC Code-compliant Mineral Resource for the Alaric deposit now totals 1.92 million tonnes at 1.51 grams per tonne gold for 93,500 ounces of gold.
This represents an addition of 47,200 ounces (+102%) compared to the Alaric Mineral Resource released in 2015.
Gold Road declared that 72 per cent of the 2017 Mineral Resource is classified in the Indicated category.
This has come about with material previously classified as Measured in the 2015 Mineral Resource being re‐assigned to Indicated based on the company’s understanding of appropriate drill spacing for the style of mineralisation and the observed variability of mineralisation at short range in the drilling data.
Gold Road said the 2017 Mineral Resource includes new information derived from the 2016 and 2017 diamond and Reverse Circulation (RC) drilling programs, which contributed to the update of the geological interpretation and grade estimation.
Other factors used in reporting the 2017 Mineral Resource include a lower cut‐off grade consistent with mining cost estimates derived from the Gruyere Feasibility Study and an increase in the gold price to reflect the changes in gold price since the 2015 Mineral Resource was declared.
“The increased Alaric Mineral Resource represents another step forward in our understanding and delineation of the deposits along the 14-kilometre mineralised Attila‐Alaric Trend,” Gold Road Resources executive director ‐ exploration & growth Justin Osborne said in the company’s announcement to the Australian Securities Exchange.
“Since we announced the Gruyere JV in late 2016 we have increased the combined Mineral Resource of Attila and Alaric by 150,400 ounces.
“Building on our knowledge gained from rigorous interrogation of the Alaric and Attila deposits we can now apply this improved understanding to our exploration program to build additional resources along the entirety of this prospective and well‐endowed trend.
“This includes extending our exploration efforts and methods along this system onto our 100 per cent tenement holding on the North Yamarna project, where we believe the same lithologies and structures extend all the way to our Pacific Dunes‐Corkwood Camp target over 50 kilometres to the north.”
Email: perth@goldroad.com.au
Website: www.goldroad.com.au