Gold Road Resources has posted some outstanding drilling results from its prioritised A$30 million Greenfields exploration campaign, in particular, the early stage bedrock results from the high priority Ibanez and Yaffler South Targets. These targets are more than 100km apart, north to south, but on the same strike of mineralised structures controlled by the regionally extensive Yamarna Shear Zone, providing further evidence of the prospectivity on the Company’s portfolio.
- Significant bedrock mineralisation intersected along the strike length and width of the vast Yamarna Greenstone Belt tenements
- North Yamarna (100% Gold Road) best bedrock intersections include:
- Ibanez RC 10 metres at 28.67 g/t Au from 240 metres, including 2 metres at 136.57 g/t Au from 240 metres (17CWRC0037) (1)
- Renegade DDH 2.3 metres at 4.24 g/t Au from 67.7 metres, including 0.4 metres at 17.28 g/t Au from 68.21 metres (17KNDD0003)
- Gruyere Joint Venture (50% Gold Road) best bedrock intersection includes:
- YAM14 DDH 49.7 metres at 1.06 g/t Au from 87.5 metres, including 13.0 metres at 2.12 g/t Au from 116.7 metres (17DHDD0012)
- South Yamarna Joint Venture (50% Gold Road) best bedrock intersection includes:
- Yaffler South RC 10 metres at 1.06 g/t Au from 92 metres, including 6 metres at 1.53 g/t Au from 92 metres (17SYRC0105)
- Significant anomaly definition results from early stage projects seeding further bedrock testing
- North Yamarna (100% Gold Road) best anomaly definition intersections include:
- Mesaboogie AC 12 metres at 0.17 g/t Au from 64 metres (17CWAC0256)
- Gilmour Morello AC 4 metres at 1.06 g/t Au from 60 metres (17WDAC0248)
Well‐funded mid‐tier gold development and exploration company, Gold Road Resources Limited (Gold Road or the Company) is pleased to announce drilling results from its prioritised A$30 million Greenfields exploration drilling campaign(2) (Figure 1). In particular, the early stage bedrock results from both the high priority Ibanez and Yaffler South Targets are very encouraging. These two targets are over 100 kilometres apart, north to south, on the same strike of mineralised structures controlled by the regionally extensive Yamarna Shear Zone (200 kilometre strike length). Significant results continue to be returned from YAM14, 25 kilometres to the east, where mineralisation is controlled by the Dorothy Hills Shear Zone (100 kilometre identified strike length).
Gold Road Executive Director – Exploration & Growth Justin Osborne said: “It is very pleasing that the hard work and expertise the geology team has put into developing and executing the ranked exploration strategy is bearing early fruit. We are excited to have received a solid set of drill results from our drilling programmes across our 100% owned North Yamarna, and 50% owned Gruyere JV and South Yamarna JV projects. Of particular promise are the high-grade results from the high ranking Ibanez Target where follow up diamond drilling is in progress to establish the geological controls upon which to base further drilling.”
(1) Refer Appendix 1 – Table 4 for uncut individual grades
(2) ASX announcement dated 22 February 2017
Gold Road is pleased to report that its Greenfields exploration strategy is delivering significant bedrock assay results from its prioritised early and advanced staged projects. Assay results are reported from 340 diamond (diamond or DDH), Reverse Circulation (RC) and aircore (AC) drill holes for a total of 18,169 metres (Table 1) over a 100 kilometre strike length of the 200 kilometre long Yamarna Shear Zone, and over a 9 kilometre strike length of the 100 kilometre long Dorothy Hills Shear Zone (Figure 1). The ranked and prioritised drilling programmes focussed on testing bedrock targets with RC and diamond drilling, and early stage anomaly definition and full field testing with AC drilling on its regional projects. Additional resource definition work was carried out on the Gruyere Joint Venture ground.
The highlight is high-grade bedrock intersections in RC drilling from the high priority Ibanez Target (Pacific DunesCorkwood Camp – 100% owned North Yamarna), where mineralisation in the northern part of the prospect area includes:
- 10 metres at 28.67 g/t Au from 240 metres, including 2 metres at 136.57 g/t Au from 240 metres and 1 metre at 238.03 g/t Au from 240 metres (17CWRC0037), with coarse gold visible in RC chips
- 9 metres at 4.56 g/t Au from 111 metres, including 4 metres at 7.31 g/t Au from 111 metres and 1 metre at 21.99 g/t Au from 113 metres (17CWRC0034)
Best intersections from the early stage anomaly definition AC drilling include 12 metres at 0.17 g/t Au from 64 metres (17CWAC0256) at Mesaboogie, 8 kilometres south of Ibanez on the same mineralised trend. In the central part of the Yamarna Shear Zone, 85 kilometres south of Ibanez, further AC results of 4 metres at 1.06 g/t Au from 60 metres (17WDAC0248) and 20 metres at 0.35 g/t Au from 68 metres (17WDAC0238) were returned from Gilmour-Morello in the Sun River-Wanderrie Camp.
On the South Yamarna Joint Venture (South Yamarna JV) tenements, a 50:50 joint venture with Sumitomo Metal Mining Oceania Pty Ltd (Sumitomo), successful bedrock intersections below AC anomalies 107 kilometres to the south of Ibanez were returned from Yaffler South with best result of 10 metres at 1.06 g/t Au from 92 metres, including 6 metres at 1.53 g/t Au from 92 metres (17SYRC0105).
Resource definition drilling at YAM14, 9 kilometres south of the Gruyere Project, on the 50:50 Gruyere Joint Venture (Gruyere JV) with Gold Fields Limited (Gold Fields), returned a diamond twin intersection of 49.7 metres at 1.06 g/t Au from 87.5 metres, including 13 metres at 2.12 g/t Au from 116.7 metres (17DHDD0012). The result returned lower grades than the previous RC hole (16DHRC0060) 3 it directly twinned, but the drilling confirmed the overall thickness of mineralisation and grades of other RC holes on the drilling section. Abundant free gold was also panned from the original high grade RC drill samples confirming coarse gold in this mineralised gold system. Mineralisation at the Gruyere and YAM14 deposits are controlled by the 100 kilometre strike length Dorothy Hills Shear Zone.
Other exploration activities have included re-processing of aeromagnetic and gravity data allowing improved interpretation of geology and further target definition as well as the commencement of Induced Polarisation (IP) geophysical surveys in collaboration with Gold Fields on the Gruyere JV ground to identify resistive or sulphide rich deposits typical of Gruyere and Attila respectively.