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Gold Road Resources Ltd.
Summary
| Project: | North Yamarna | |
|---|---|---|
| Deposit: | Alaric | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/17/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 17-10-2016: Gold Road Resources Ltd. announces an Exploration/Drilling Update report for its Alaric deposit at the North Yamarna project. Drilling results incl. 3m @ 21.9g/t Au from 156m. Gold Road Resources Limited (Gold Road or the Company) is pleased t | |
| Resources: | (Reserve, P+P): 81.1Mt @ 1.22g/t Au for 3.17Moz Au contained at Gruyere | |
| CP/QP: | [Overall Report]: Justin Osborne (Internal) | |
| ABSTRACT: | Gold Road Resources Limited (Gold Road or the Company) is pleased to announce the successful completion of an infill and extensional drilling programme at the Alaric Deposit, approximately 24 kilometres south-west of the 6.2 million ounce Gruyere Gold Project in Western Australia. This programme constitutes one component of a larger effort targeting additional high-margin gold deposits to supplement ore feed from the planned Gruyere Open Pit, thereby enhancing the already robust Gruyere economics identified in the Gruyere Pre-Feasibility Study. The soon to be completed Gruyere Feasibility Study does not include Alaric. The current open pit Mineral Resource at Alaric1 is located on a granted mining lease with a Native Title Mining Agreement. This programme of 22 Reverse Circulation (RC) and diamond holes successfully infilled and extended continuous structurally controlled gold mineralisation over a strike length of approximately 700 metres. High-grade mineralisation (greater than 5 g/t Au) was identified on the Main Shear and Hangingwall Structures below the current open pit resource, to the limit of current drilling at only 160 metres below surface. This represents significant opportunity to extend mineralisation at depth as a potential underground resource. Geological work is ongoing to refine high-grade shoot controls with the aim of updating the Alaric Mineral Resource in the first half of 2017. Both open pit and underground options are likely to be assessed. The Company will then commence Pre-Feasibility Studies on the appropriate exploitation of this promising deposit. Gold Road Executive Director - Exploration & Growth Justin Osborne said: “We continue to be encouraged by the results of our ongoing satellite high-margin drilling progam. The high-grade extensions we have identifed now offer us the opportunity to assess Alaric as a potential open pit and/or undergound source that might deliver significant additional value to our world class Gruyere Project.” | |
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