Mid‐tier gold producer and exploration company Gold Road Resources (ASX: GOR) has reported positive diamond and reverse circulation (RC) assay results from recent exploration programmes.
CENTRAL PROJECT AREA
Gruyere JV (50% Gold Road) – Milestone 4
Extensional diamond drilling is complete at Gruyere. The results enable the potential conversion of Inferred to Indicated Mineral Resource below the current Ore Reserve pit design, which will support the optimisation of the mine plan and placement of infrastructure. Final assay results received are generally in line with or exceeding expectation and better results included:
· 149.6 metres at 1.46 g/t Au from 437.4 metres (19GY0363)
· 91.2 metres at 1.47 g/t Au from 275.7 metres (19GY0354)
· 41.4 metres at 2.52 g/t Au from 372.3 metres (19GY0365)
· 159.5 metres at 1.25 g/t Au from 418.9 metres (19GY0361)
SOUTHERN PROJECT AREA
Warbler ‐ Yaffler South ‐ Milestone 3
Follow‐up diamond and RC drilling confirmed continuity and geometry immediately north and south of high‐grade mineralisation. Notable intersections include:
· 13 metres at 1.98 g/t Au from 56 metres (19YFRC0022), including 8 metres at 2.75 g/t Au from 61 metres
· 18 metres at 1.33 g/t Au from 18 metres (19YFRC0023), including 2 metres at 5.61 g/t Au from 34 metres
Morello ‐ Rocha and Fortuna – Milestone 2
Follow‐up RC drilling was completed and identified broad zones of low‐grade mineralisation.
Gold Road Executive Director ‐ Discovery & Growth Justin Osborne commented: “We are pleased to have finished the 2019 exploration programme. We are confident the excellent results from the Gruyere extensional drilling will have a positive impact on the next Mineral Resource update anticipated in early 2020.
“We are in the process of reviewing the results from our ongoing Yamarna exploration which confirmed gold mineralisation in multiple locations.
“The work completed this year confirmed our belief in the Southern Project Area as having the greatest prospectivity.
“We anticipate the majority of the 2020 exploration budget will be focussed on this area with drilling scheduled to commence in January on our reranked high priority targets.”