Mid‐tier gold producer and exploration company Gold Road Resources (ASX:GOR) has provided a report on its exploration results, budget and strategy to make a meaningful discovery that supports a standalone operation.
Gold Road has been pro-actively prepared for COVID-19, with extensive measures to ensure the welfare of its people and the community are in place. To date there have been no material impacts on its exploration work programmes at Yamarna, but work has been temporily suspended at the Cygnus JV in the south-west of Western Australia.
Strategy and Budget
Gold Road’s strategy is to discover a significant Reserve base to support a standalone operation 2020 exploration budget of $26 million (100% basis)
The focus of the 2020 exploration programme remains on the 100% Gold Road owned Southern Project
A multi-disciplinary technical team now supplements the Discovery team, with the goal of maximizing the integration and interpretation of the extensive datasets to enhance the effectiveness of the exploration investment.
Follow-up diamond drilling testing high-grade shoot controls in the hangingwall to the Gilmour Main Lode has been completed. This drilling confirmed significant potential for high-grade mineralisation requiring further interpretation and drilling, with best intercepts including:
5.62 metres at 36.64 g/t Au from 203.80 metres (19WDDD0048)1
4.64 metres at 43.78 g/t Au from 266.46 metres (19WDRC0243)
4.34 metres at 13.04 g/t Au from 191.66 metres (20WDDD0049)
Early stage regional infill and first pass aircore drilling (26,661 metres) focussed on the high priority Hirono and Bluebell targets in the Southern Project Area.
Gold Road Executive Director – Discovery and Growth Justin Osborne commented: “Exciting new results at Gilmour have identified scope to expand this high-grade resource.
“Drilling completed so far this year has focussed on initial regional assessment of our highest-ranking early stage targets in the Southern Projects area, with good progress made in completing the 18,000 metre Hirono programme. With results still coming through, we expect to have new more detailed targets generated in coming months for follow-up testing.”