Gold Road confirms high-grade extensions at Alaric

/in /by

THE DRILL SERGEANT: Gold Road Resources (ASX: GOR) announced the completion of an infill and extensional drilling program at the Alaric deposit, located approximately 24 kilometres south-west of the company’s 6.2 million ounce Gruyere gold project in Western Australia.

Gold Road Resources said the latest drilling program was one component of a larger effort where the company is targeting additional high-margin gold deposits to supplement ore feed from the planned Gruyere open pit.

By doing so it claims to be enhancing the already robust Gruyere economics identified in the soon-to-be-completed Gruyere Pre-Feasibility Study, which does not include Alaric.

The current open pit Mineral Resource at Alaric is located on a granted mining lease with a Native Title Mining Agreement.

The recent program consisted 22 Reverse Circulation (RC) and diamond holes to infill and extend continuous structurally controlled gold mineralisation over a strike length of approximately 700 metres.

The drilling identified high-grade mineralisation (greater than 5g/t gold) on the Main Shear and Hangingwall Structures below the current open pit resource, to the limit of current drilling at only 160 metres below surface.

Results confirming high-grade mineralisation on Main Shear, included:


12ALRC0031
3 metres at 21.9 grams per tonne gold from 156m;


16ALRC0183
3m at 6g/t gold from 122m;


16ALRC0188
2m at 6.2g/t gold from 132m; and


16ALRC0180
2m at 4.1g/t gold from 183m;

High-grade mineralisation was confirmed on Hangingwall Structures, with results including:

16ALRC0184
2m at 10.7g/t gold from 89m; and


16ALRC0189
3m at 7.6g/t gold from 148m.

Gold Road said the results provide an opportunity to extend mineralisation at depth as a potential underground resource.

The company is now conducting geological work to refine high-grade shoot controls with the aim of updating the Alaric Mineral Resource in the first half of 2017 with both open pit and underground options likely to be assessed.

Gold Road will then commence Pre-Feasibility Studies on the appropriate exploitation of this deposit.

“We continue to be encouraged by the results of our ongoing satellite high-margin drilling program,” Gold Road Resources executive director – exploration & growth Justin Osborne said in the company’s announcement to the Australian Securities Exchange.

“The high-grade extensions we have identified now offer us the opportunity to assess Alaric as a potential open pit and/or underground source that might deliver significant additional value to our world class Gruyere project.”

Email: perth@goldroad.com.au

Website: www.goldroad.com.au