Gold Road confirms high-grade gold at YAM14 prospect
THE DRILL SERGEANT: Gold Road Resources (ASX: GOR) has intersected high‐grade primary gold mineralisation during its initial program of diamond drilling at the YAM14 prospect.
The mineralisation was encountered in a discrete shear zone below previous Reverse Circulation (RC) drilling.
Diamond drillhole 16DHDD0002 intersected 3.05 metres at 4.89 grams per tonne gold from 137.68 metres in, what the company described as, “a very strong sulphide alteration assemblage, with minor visible gold and narrow quartz veins”.
Gold mineralisation extends over a strike length of 850 metres and remains open to the north and south, and at depth.
The YAM14 prospect is located in the South Dorothy Hills Camp, approximately nine kilometres south of the company’s 6.2 million ounce Gruyere deposit, within the granted mining lease, and occurs within the same Dorothy Hills Shear Zone which hosts the Gruyere deposit.
YAM14 was discovered as part of the drilling program that discovered the Gruyere deposit.
Gold Road explained that drilling on YAM 14 has been limited since the initial discovery program, however the deposit has risen in stature of late to assume a high-priority due to its relative proximity to Gruyere.
“Due to YAM14’s smaller size, at the time we focussed all attention on Gruyere, which we rapidly grew into a world class resource,” Gold Road Resources executive director Justin Osborne said in the company’s announcement to the Australian Securities Exchange.
“Now that we have had the time to re‐assess the YAM14 mineralisation ‐ together with the addition of this exciting new diamond hole, which has intersected one of the best looking shear intersections we have seen so far on the Yamarna Belt ‐ we have the incentive to start assessing the size potential of this prospect more thoroughly.
“Given its proximity to the Gruyere project and within the granted mining lease, any resource we can define at YAM14 should positively impact the Gruyere project economics.”
Gold Road said it has intersected both high‐grade supergene and primary gold mineralisation at YAM14, which it says suggests the presence of additional complexity and structural controls that were not obvious from results if earlier RC drill programs.
The company also considers these add additional scope to expand the mineralised footprint of the prospect.
Gold Road indicated it is now planning a follow‐up program of RC drilling, expected to commence in the September 2016 quarter, to scope the greater potential of the prospect area.
Email: perth@goldroad.com.au
Website: www.goldroad.com.au