THE DRILL SERGEANT: Gold Road Resources has received further high-grade gold intercepts, which it claims has identified at least three new gold targets in the Central Bore Area across its wholly-owned Yamarna Belt, located in Western Australia.
The latest results from Central Bore were achieved on Central Bore North and the Attila Trend.
“Our continued exploration success and continuing resource delineation in the Central Bore area is providing Gold Road with a solid foundation for us to move the Company into a development phase and future gold production in the region,” Gold Road Resources chairman Ian Murray said in the company’s announcement to the Australian Securities Exchange.
Gold Road said around two thirds, (~100,000 metres) of the company’s 2012 drilling program will focus on finding and proving-up new gold discoveries across the tenements.
This drilling will be carried out on the Tatar, VTEM, Dorothy Hills, Tobin Hill targets.
The remaining third of the drilling campaign (~50,000m) will focus on Gold Road’s advanced projects at Central Bore and Attila Trend.
Drill-hole plan showing location of Attila Trend gold deposits. Source: Company announcement
Gold Road’s current extensional and infill drilling program along the Attila Trend aims to identify additional higher-grade resources to supplement production from the high-grade Central Bore Project in order to justify the development of our own moderate-tonnage processing plant.
It is also aiming to increase the overall resource with the aim of growing towards a bulk-tonnage operation.
The company expects this drilling to improve its confidence in the projects and expand the existing resources.
Exploration highlights from activities located on or around Gold Road’s advanced projects include:
– 1 metre at 17.35 grams per tonne gold from 112 metres.
– 1m at 30.28g/t gold and 1m at 4.62 g/t gold from 77m; and
– 1m at 12.03g/t gold from 126m.
– 1m at 23.40g/t gold from 74m within 34m zone at 0.98g/t gold from 51m; and
– 1m at 11.88g/t gold from 69m within 4m zone at 3.47g/t gold from 67m.
– 6m at 3.17g/t gold from 94m within 20m zone.
Elvis – Hann South area
– Drilling has identified mineralised zones associated with five trends: Elvis; Contact; Attila; Tamerlane; and Hann.
Central Bore North
– 4m at 6.11g/t gold from 119m, including 1m at 18.4g/t gold;
– 3m at 3.64g/t gold from 146m and 3m at 5.37g/t gold; and
– 5m at 3.84g/t gold from 41m, including 1m at 13.4g/t gold.
Gold Road also conducted a Sub-Audio Magnetics (SAM) geophysical survey across the Central Bore Area, which confirmed the existing mineralised structures and identified at least three new targets.
The company is of the opinion SAM could be a quick and cost effective tool in gold exploration in other parts of the Yamarna Belt by assisting it to generate and narrow-down new drill targets.