Mid‐tier gold producer and exploration company Gold Road Resources (ASX: GOR) has reported positive diamond and reverse circulation assay results from recent exploration programmes.
SOUTHERN PROJECT AREA – MILESTONE 3 PROJECTS
Yaffler South (100% Gold Road)
Bedrock RC drilling has intersected coherent and consistent mineralisation across one traverse on a new trend to the west of the previous drilling. Best intersections include:
· 11 metres at 5.94 g/t Au from 74 metres including 4 metres at 14.18 g/t Au from 79 metres (19YFRC0001)1
· 12 metres at 3.40 g/t Au from 116 metres including 4 metres at 7.05 g/t Au from 121 metres (19YFRC0017)
· 12 metres at 2.71 g/t Au from 59 metres, including 2 metres at 11.50 g/t Au from 65 metres (19YFRC0016)
· 4 metres at 3.37 g/t Au from 5 metres and 33 metres at 1.26 g/t Au from 15 metres (19YFRC0018)
CENTRAL PROJECT AREA – MILESTONE 4 PROJECT
Gruyere JV (50% Gold Road)
Diamond drilling is near‐complete at Gruyere to enable conversion of Inferred Resources to Indicated Resources to support optimisation of the mine plan and the placement of mine infrastructure. To date six of the 20 hole programme have returned assays, better results include:
· 36.2 metres at 2.44 g/t Au from 282.8 metres (19GY0341)
· 44.9 metres at 1.80 g/t Au from 270.1 metres (19GY0342)
· 73.4 metres at 1.80 g/t Au from 288.6 metres (19GY0344)
Gold Road Executive Director ‐ Exploration & Growth Justin Osborne commented: “The high‐grade results from Yaffler South demonstrate the benefit of good geological work and persistence.
“This prospect was first identified in 2016 during the previous South Yamarna Joint Venture and it is only recently that we have had opportunity to complete targeted bedrock drilling based on sound geological re‐interpretation and funding availability.
“The high‐grade shear zone and favourable dolerite geology are very encouraging first‐pass indicators supporting immediate follow‐up programmes. These results confirm the Southern Project Area as the area of greatest prospectivity and will remain our priority exploration project.
“Drilling at Gruyere has intersected the expected mineralisation below the current Reserve pit shell providing confidence that the Gruyere JV will be able to extend the current Indicated Resource.
“We look forward to the assay results from the remaining 14 holes of this programme in support of an update to the Mineral Resource estimate scheduled for 2020. Improved resource confidence will allow future assessment of mining options and potential optimisation of the mine plan at Gruyere to benefit both JV partners.”