Gold Road Resources (ASX: GOR) has released its quarterly results for the three months to December 31. At the end of the quarter, the company had cash, term deposits and current receivables of $256.8 million. The company also completed its 2017 greenfields exploration program across its ~6,000 square kilometre tenement holding in the Yamarna Greenstone Belt, with results validating Gold Road’s targeting techniques and exploration methodologies.
North Yamarna (100%):
- High-grade bedrock mineralisation identified at Gilmour-Morello target (Wanderrie Camp) including 5 metres at 12.52 g/t Au from 143 metres (17WDRC0057)
- New anomalies defined at Stratocaster (>3.5 kilometres long) and Stock Route (>1.5 kilometres long) targets
Gruyere Joint Venture (50%):
- Resource definition and extensional diamond drilling at Montagne prospect returned significant intersections including 8.47 metres at 15.38 g/t Au from 56 metres (17ALDD0011)
- Infill RC drilling continued at Montagne, Argos and Alaric prospects, with most holes intersecting gold grades greater than 1.0 g/t Au
South Yamarna Joint Venture (50%):
- Yaffler South: Bedrock mineralisation intersected in target definition drilling including 2 metres at 2.10 g/t Au from 152 metres (17SYRC0122)
- Kingston North: Best intersection of 12 metres at 1.60 g/t Au from 60 metres including 4 metres at 4.63 g/t Au from 60 metres (17SYAC1183) within newly defined 1 kilometre anomaly
Gruyere Gold Project
- Five-year, A$400 million mining services contract signed with Downer EDI Mining Pty Ltd
- As at the end of December 2017 Project construction is on schedule and budget with engineering and construction 72% and 32% complete respectively
- Earn-in exploration joint venture agreements signed with Cygnus Gold Limited to earn up to 75% in two greenfields gold exploration projects in south-west Western Australia
- Gold Forward Sales Facilities established with two banks for up to 200,000 ounces, with 25,000 ounces forward sold at A$1,705 per ounce
- Cash, term deposits and current receivables of A$256.8 million at 31 December 2017
Well-funded mid-tier gold development and exploration company, Gold Road Resources Limited (Gold Road or the Company), is pleased to present its activity report for the quarter ending 31 December 2017.
The December quarter saw the successful completion of the 2017 greenfields exploration programme across Gold Road’s ~6,000 square kilometre tenement holding in Western Australia’s underexplored Yamarna Greenstone Belt, with results validating the Company’s targeting techniques and exploration methodologies.