Gold Road Resources Limited (ASX: GOR) is pleased to present its annual Mineral Resource and Ore Reserve statement as at 31 December 2021 for the Gruyere Joint Venture and for its 100%-owned Mineral Resources at Yamarna.
Over the year, Gold Road’s attributable Mineral Resources increased by 0.18 (+4%) million ounces to 4.71 million ounces, largely due to additions and extensions to its 100%-owned Yamarna resources as reported on 31 January 2022.
Gold Road’s attributable Ore Reserves have increased by 0.49 million ounces to 2.23 million ounces due to the September 2021 Gruyere JV Ore Reserve upgrade and remains largely unchanged since then except for some mining depletion.
Highlights as at 31 December 2021 include:
- the Gruyere JV open pit Mineral Resource has increased to 170 million tonnes at 1.35 g/t Au for 7.38 million ounces (100% basis) (constrained within A$2,000 per ounce pit shells), a 10% increase of 0.67 million ounces (after mining depletion). The Mineral Resource includes:
- the Gruyere JV Ore Reserve totals 109.1 million tonnes at 1.27 g/t Au for 4.45 million ounces (100% basis), a 28% increase of 0.98 million ounces (after the inclusion of Indicated Mineral Resources, steepening pit slopes and mining depletion) on the December 2020 Annual Ore Reserve Statement and a 2% decrease of 0.09 million ounces (after mining depletion) on the September 2021 Ore Reserve Upgrade. The Ore Reserve includes:
- updated Gruyere open pit Ore Reserve of 101.8 million tonnes at 1.27 g/t Au for 4.16 million ounces
- updated Golden Highway Ore Reserve of 7.3 million tonnes at 1.26 g/t Au for 0.30 million ounces
- Gold Road’s Gruyere underground Mineral Resource estimate has reduced by an attributable 0.36 million ounces (-41%) as the upper portions of the previous underground resource are now incorporated within the deeper open pit Mineral Resource shell. The evaluation (constrained within A$2,000 per ounce stope shapes) now defines an inventory of 22 million tonnes at 1.46 g/t Au for a total of 1.03 million ounces from which Gold Road reports an attributable underground Inferred Mineral Resource of 11 million tonnes at 1.46 g/t Au for a total of 0.51 million ounces of gold.
Gold Road announced last month that it had increased the Mineral Resources for its 100%-owned Yamarna by 0.21 million ounce (70%) to 6.4 million tonnes at 2.44 g/t Au for 0.51 million ounces.
The Company’s exploration strategy is focused on delivering economic gold deposits that can be developed as standalone mining operations, creating shareholder value through organic growth.
