Well‐funded mid-tier gold development and exploration company, Gold Road Resources has recorded another successful quarter in the period ending 31 March 2017. It saw the Company start its A$30 million 2017 Yamarna greenfields exploration programme with drilling commencing at the Ibanez Prospect on the Pacific Dunes‐Corkwood Camp Scale Target, and assessment of the underground potential at the Gruyere Deposit. Significant progress was also made on development of the Gruyere Gold Project, a 50:50 Joint Venture with Gold Fields Ltd.
HIGHLIGHTS
Yamarna Exploration
- Planned 280,000 metres of exploration drilling awarded to DDH1 and Rangeras part of A$30 million 2017 exploration programme
- Drilling of top‐ranked Targets commenced in February, starting with the highpriority Ibanez Prospect
- Geological review of exploration data completed, defining 138 targets for follow‐up assessment
Gruyere Joint Venture
- Final Mining Approval received in February, paving the way for Project construction
- Early Works programme completed with commissioning of 288‐room GruyereVillage Stage 1
- Preferred tenderers confirmed for major Gruyere contracts including Bulk Earthworks, EPC, and Power Supply
- Construction of the Anne Beadell borefield commenced to support early construction activities and supply of potable water to Gruyere Village
Corporate Update
- Milestone Half Year result, with netprofit after tax of A$232.5million for period ending 31 December 2016
- As at 31 March2017, the Company had A$415.9 million in cash, term deposits and current receivables
- Gold Road recognised by Mines and Money Asia through the award of the Best Asia Pacific Small& Mid Cap Mining Deal of the Year for the Gruyere JV
Well‐funded mid-tier gold development and exploration company, Gold Road Resources Limited (Gold Road or the Company), is pleased to release its quarterly activity report for the quarter ending 31 March 2017.
The March 2017 quarter saw the start of the A$30 million 2017 Yamarna greenfields exploration programme with drilling commencing at the Ibanez Prospect on the Pacific Dunes‐Corkwood Camp Scale Target, and assessment of the underground potential at the Gruyere Deposit. Significant progress was also made on development of the Gruyere Gold Project, a 50:50 Joint Venture with Gold Fields Ltd (Gold Fields).