THE DRILL SERGEANT: Gold Road Resources (ASX: GOR) has commenced the company’s $23 million 2018 greenfields exploration drilling campaign at Yamarna.
Gold Road Resources has turned the key on four drill rigs operated by Ranger Drilling and DDH1 Drilling across prioritised company projects.
Gold Road completed a systematic exploration targeting project over the summer period, from which it prioritised the upcoming drill program that is aimed at testing all the highest‐ranked prospects through 2018.
The company has allocated the majority of its 2018 budget ($17 million) to its 100 per cent-owned Yamarna tenements.
The drilling has commenced on targets the company considers to have the best chances of discovering multi‐million ounce gold deposits capable of supporting the development of stand‐alone gold mining operations.
Gold Road has allocated the remainder of the budget ($6 million) to exploration on the Gruyere Project Joint Venture (Gruyere JV), a 50:50 joint venture with Gold Fields Limited, where Gold Road as Manager is targeting additional high‐margin deposits to supplement the Gruyere Project Life of Mine schedule.
“Our Yamarna Exploration Team has done excellent work in planning a well‐structured drilling campaign for 2018,” Gold Road Resources executive director – exploration and growth Justin Osborne said in the company’s announcement to the Australian Securities Exchange.
“Incorporating the drilling data and new geological interpretations from 2017, and maintaining our strict quality focus, we have balanced practicality with the flexibility required for remote greenfields exploration, while maintaining our continued focus on quality drill targets.
“We will intersperse our main activities targeting new stand‐alone discoveries with programs focussed on important resource and reserve development to add high‐margin satellite feed to the Gruyere JV.
“With drilling underway, we are now looking forward to receiving our first assays for the year and continuing the development of the Yamarna Belt as Australia’s newest gold district.”