Gold Road Resources Keeps Exploration Drills Spinning

THE DRILL SERGEANT: Gold Road Resources (ASX: GOR) reported on diamond and reverse circulation drilling underway across the company’s exploration tenements in Western Australia.

In the Southern Project Area of the company’s 100 per cent-owned Yamarna project a total of eight diamond and 13 RC drill holes were undertaken to support the estimation of a potential Maiden Mineral Resource at Gilmour.

Gold Road reported the program extended its knowledge of mineralisation both along strike and at depth and defined the detail of the geology adjacent to the Waters Fault.

The mineralisation was predictably intersected confirming initial geological interpretations.

Visible gold has been observed in association with a laminated quartz vein in six of the new eight diamond drill hole.

Best intersections returned included:

2.06 metres at 12.4 grams per tonne gold from 357.2m;

4m at 4.96g/t gold from 199m;

7m at 2.2g/t gold from 146m; and

2.78m at 5.25g/t gold from 401.43m.

At the company’s 50 per cent-owned Gruyere Mine Joint Venture a drilling program was commenced to extend the Indicated Resource below the current Ore Reserve pit design, and delineate the limits of mineralisation at the southern end of the Gruyere Porphyry.

Extending the limits of the Indicated Resource will allow for strategic evaluation and mine optimisation applying improvements to modifying factors such as improved pit‐slope angles, operational cost reductions, and gold price.

Commencing these studies now will position the JV to potentially bring forward additional value in the mine plan.

This information will be used in Ore Reserve updates planned for later this year.

Confirmation of the southern limits of economic mineralisation will enable finalisation of infrastructure locations, such as the ROM Pad or waste dumps.

“Our first drilling for 2019 has given us a greater understanding on the geological controls to economic gold mineralisation on the Gilmour and Morello prospects which we are now applying to make further discoveries along the same trend,” Gold Road Resources executive director ‐ exploration & growth Justin Osborne said in the company’s announcement to the Australian Securities Exchange.

“At Morello we identified several potential shoots to be assessed with further drilling.

“We are embarking on a new drilling program at Gruyere to allow us to further optimise and increase the near-term value to be delivered from the mine as we edge closer to our initial gold pour and subsequent commercial production.”