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Gold Road Resources Ltd.
Summary
| Project: | North Yamarna | |
|---|---|---|
| Deposit: | YAM14 | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/10/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 10-10-2016: Gold Road Resources Ltd. announces an Exploration/Drilling Update report for its YAM14 deposit at the North Yamarna project. Drilling results incl. 4m @ 5.07g/t Au from 18m. Gold Road Resources Limited (Gold Road or the Company) is pleased to | |
| 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 successful completion of a resource drilling programme at the YAM14 Prospect, approximately eight kilometres south of the 6.2 million ounce Gruyere Gold Project in Western Australia, as part of its efforts to define additional high-margin deposits to supplement feed from the planned Gruyere Open Pit. Feasibility Studies to be completed in the December Quarter 2016 for the Gruyere Project do not include YAM14. The YAM14 Prospect is within short trucking distance of the planned Gruyere processing facility and is situated on the Gruyere granted Mining Lease, making it a high priority for appraisal as another potential source of mill feed for the Project. Mineralisation appears to be higher grade than the existing Gruyere resource. It is also softer oxide material that may allow for increased processing throughput. The resource drilling programme at YAM14 comprised 26 Reverse Circulation (RC) and diamond holes, which successfully infilled and extended weathered mineralisation over a strike length of 300 metres and identified high-grade mineralisation (greater than 3 g/t Au) at shallow depths. Extensions to primary mineralisation at depth and along strike were also identified. Geological work is ongoing, with the aim of releasing a Maiden Mineral Resource for YAM14 in the March 2017 quarter. Gold Road Executive Director - Exploration & Growth Justin Osborne said: “One of the key focuses of our extensive regional exploration programme in the Yamarna Belt is identifying targets within close proximity of the 6.2 million ounce Gruyere deposit that may be able to add flexibility and value to what is already a robust project in final stages of a Feasibility Study. YAM14 bears those hallmarks and we look forward to further confirming its potential as an additional source of feed for Gruyere in the coming months.” | |
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