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Gold Road Resources Ltd.
Summary
| Project: | Gruyere JV | |
|---|---|---|
| Deposit: | Gruyere | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/13/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 13-2-2019: Gold Road Resources Ltd. announces a Resource Estimation report for its Gruyere deposit at the Gruyere JV project. Updated mineral resource and ore reserve estimate at Gruyere. Well‐funded mid‐tier gold development and exploration company, Gold | |
| Resources: | (Reserve, P+P): 97.20Mt @ 1.25g/t Au for 3.92Moz Au contained | |
| CP/QP: | [Resources]: Mark Roux, John Donaldson, Jane Levett (Internal) | |
| ABSTRACT: | Well‐funded mid‐tier gold development and exploration company, Gold Road Resources Limited (Gold Road or the Company) presents the Mineral Resource and Ore Reserve statement as at December 2018. All Mineral Resources and Ore Reserves are currently located within the Gruyere Project Joint Venture (Gruyere JV) tenements and are reported on a 100% basis unless otherwise specified with 50% attributable to Gold Road (Figure 1). The Gruyere JV is a 50:50 joint venture managed by Gruyere Mining Company Pty Ltd, a member of the Gold Fields Limited group (Gold Fields). Gold Road, on behalf of the Gruyere JV, manages all exploration activities and resource development to pre‐feasibility completion on the JV tenements other than the Gruyere Gold Project (Gruyere). The 2018 exploration campaign targeted additional higher grade deposits along the Golden Highway trend to supplement the 12 year life‐of‐mine plan already established for the Project. Construction and mining at Gruyere is on schedule, with mining and stockpiling of ore commencing in January 20193 . Mining depletion is yet to be reported. Commenting on the increase to the annual statement, Duncan Gibbs, Managing Director and CEO said “Positive exploration results and excellent technical work by the Gold Road exploration and Gruyere JV operational teams has increased the reserve by 5% to almost 4 million ounces, including the Maiden Ore Reserve additions on the Golden Highway. Encouragingly the Golden Highway Mineral Resource increased by 17% to almost 700,000 ounces, and the addition of a robust high‐grade underground resource at Central Bore increases the mineralisation options available to the Gruyere JV. The increased reserve grade and ounces has the potential to add further value to the recently updated Gruyere Mine Plan.” | |
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