Gold Road Resources Encounters High-Grades at Gilmour Deposit

THE DRILL SERGEANT: Gold Road Resources released results from framework exploration drilling being undertaken at the company’s 100 per cent-owned Southern projects within the Yamarna Belt, 200 kilometres east of Laverton in Western Australia.

Gold Road Resources said recent drilling results had confirmed continuity of high¬-grade gold mineralisation at the Gilmour deposit, returning intersects of:

4 metres at 19.61 grams per tonne gold from 111m, including 1m at 74.98g/t gold from 113m;

8.14m at 7.11g/t gold from 261m, including 1.23m at 31.98g/t gold from 267.91m;

3m at 12.77g/t gold from 170m, including 2m at 18.98g/t gold from 170m; and

5m at 5.12g/t gold from 219m, including 1m at 24.06g/t gold from 221m.

Gold Road explained that Resource definition drilling is underway over a 500-metre strike length and that mineralisation intersected to date, over 250 metres below surface is open at depth.

Work to date has demonstrated the main mineralised shear zone is approximately three to five metres wide and is characterised by coarse visible gold within a highly continuous laminated quartz vein, with moderate alteration and lesser subsidiary gold¬-bearing veins.

Gold Road has completed a conceptual economic assessment based on a preliminary geological model derived from the current broad drilling information.

The company has been encouraged by the results, which it said justified ongoing follow-¬up extensional diamond and infill Reverse Circulation (RC) drilling programs that it anticipates completing during the December 2018 quarter.

“The Gilmour deposit is shaping up to be a very interesting discovery on our 100 per cent-owned ground, exhibiting excellent continuity of mineralisation characterised by a consistent and predictable gold¬-bearing quartz vein in most intersections,” Gold Road Resources executive director¬ exploration & growth Justin Osborne said in the company’s announcement to the Australian Securities Exchange.

“A diligent focus on understanding both the geological controls to mineralisation, and the potential economic value of the discovery has allowed the team to rapidly advance the project to detailed drilling capable of supporting potential future resource modelling activities.

“The widths, grades, and extent of mineralisation identified to date provide the encouragement to progress Gilmour as one of the priority projects going into 2019.”