Gold Road Resources Enjoys robust March Quarter

THE DRILL SERGEANT: Gold Road Resources submitted a healthy March quarterly report from the Gruyere gold mine Joint Venture with Gruyere Mining Company, a member of the Gold Fields Group, which manages Gruyere.

Gruyere produced 66,213 ounces of gold enabling Gold Road to deliver its March 2021 quarter production at an AISC of $1,386 per attributable ounce.

Gruyere ore tonnes processed totalled 2.1 million tonnes at a head grade of 1.12 grams per tonne gold and a gold recovery of 91.2 per cent with gold in circuit increasing by 3,127 ounces during the quarter.

All this while scheduled plant shutdowns were undertaken for relines of the SAG mill and the Ball mill, along with an upgrade to the Pebble Crushing Circuit.

During the March quarter, Gold Road reported a 50 per cent attributable Maiden Underground Inferred Mineral Resource of 18.5 million tonnes at 1.47g/t gold for a total of 0.87 million ounces of gold from beneath the December 2020 Gruyere Open Pit Resource of 156 million tonnes at 1.34g/t gold for 6.71 million ounces.

Progress continues towards an updated Gruyere Ore Reserve, expected in the second half of 2021.

Geotechnical studies indicate the potential to steepen fresh rock open pit slopes by up to four degrees.

The steeper pit slopes are anticipated to support growth of the open pit Ore Reserve.

Gold Road currently has four drill rigs operating at it 100 per cent-owned Yamarna project and another operating at Yandina (88%) as the company continues to actively explore for a meaningful discovery.

As part of an initial assessment of the longer-term underground potential, the Gruyere JV partners commence diamond drilling to target mineralisation below the reported Mineral Resources at Gruyere.