Gold Road confirms Smokebush mineralisation
THE DRILL SERGEANT: Gold Road Resources (ASX: GOR) announced it has confirmed gold mineralisation and the orientation of a mineralised structure at the Smokebush Dolerite Target the company discovered in March this year.
The confirmation has come through a program of follow‐up Reverse Circulation (RC) drilling at the Smokebush Dolerite Target, which occurs in the Riviera‐Smokebush gold camp scale target, part of the company’s South Yamarna Joint Venture with Sumitomo Metal Mining Oceania.
Sumitomo is earning up to a 50 per cent interest in the JV.
Gold Rod’s initial interpretation of mineralisation was based on discovery hole 15SYRC0034, which the company said suggested a moderate west dipping shear zone of unknown true width.
A recent program of three RC holes, in combination with down‐hole imagery has now confirmed a steep south‐west dipping shear zone striking to the north‐west as the host to mineralisation.
Gold mineralisation was intersected in RC hole 15SYRC0040 with an intercept of:
36 metres at 0.55 grams per tonne gold from 138m, including four separate higher‐grade sub‐vertical lode structures greater than 0.88g/t gold.
The discovery hole 15SYRC0034 was also extended after originally ending in mineralisation, adding a further:
8m at 3.57g/t gold from 186m, to produce a total intercept of:
67m at 3.09g/t gold from 127m.
Gold Road said the estimated true width of the gold mineralisation is now 25 metres.
The company now has diamond drilling planned to target the shear zone immediately north and south of holes 15SYRC0034 and 15SYRC0040 to provide additional information on the mineralisation characteristics, host rock zonation, and orientation of the structure.
This drilling will be completed in the September 2015 Quarter.
“We are excited to have confirmed gold mineralisation and orientation of a significant shear zone with this recent drilling,” Gold Road Resources executive director Justin Osborne dais in the company’s announcement to the Australian Securities Exchange.
“This provides a very prospective target for further work with the first diamond drill program to be drilled on the Joint Venture area being approved by Gold Road and our partner, Sumitomo.”
Email: perth@goldroad.com.au
Website: www.goldroad.com.au