THE DRILL SERGEANT: Gold Road Resources (ASX: GOR) released RC drilling results from the YAM14 prospect on the Gruyere Joint Venture tenements, a 50:50 JV with Gold Fields Limited, located approximately eight kilometres south of the company’s Gruyere gold project in Western Australia.
Gold Road Resources explained the drilling was carried out to test the source of high‐grade mineralisation intersected in aircore drilling the company reported in January 20171.
Gold Road said the latest results highlight potential to improve the economics and mine life of the Gruyere gold project through the addition of higher grade satellite mill feed.
Results of mineralisation intersected by the recent drilling at YAM14 include:
64 metres at 3.73 grams per tonne gold from 79m, including 28 m at 6.5g/t gold from 79m, with 18m at 9.78g/t gold from 87m, or 8m at 19.16g/t gold from 90m;
39m at 1.52g/t gold from 119m, including 13m at 2.24g/t gold from 119, with 7m at 3.55g/t gold from 123m; and
22m at 1.81g/t gold from 57m, including 14m at 2.63g/t gold from 57m.
“These results confirm a significant zone of mineralisation at the YAM14 prospect, with one of the best RC drill intersections we have ever had at Yamarna.,” Gold Road Resources executive director ‐ exploration & growth Justin Osborne said in the company’s announcement to the australian Securities Exchange.
“Following this drilling we now have over one kilometre of gold mineralisation at shallow depths in very close trucking distance to the Gruyere mill site.
“We are now planning both infill and extensional drilling targeting the depth and strike extents, which remain open, and to provide resource level drill densities.
“This is a very exciting set of drill results, which potentially offers great upside to the Gruyere Joint Venture project, and a better understanding of what to look for in our target areas on the Dorothy Hills Shear Zone to the south on our 100 per cent North Yamarna tenements.”
Gold Road Resources indicated it has further RC and diamond drilling planned to extend and infill the mineralisation, and to define the plunge orientation of interpreted high‐grade shoots.
The company expects the results from this program will add to the existing drilling to allow evaluation of a Maiden Mineral Resource planned for completion in the second half of 2017.
Drilling at the Toto area to the north of YAM14 (between YAM14 and Gruyere) will be evaluated once a better understanding of the mineralisation controls and economics have been developed, and new geophysical analysis is completed.