Mid-tier gold production and exploration company Gold Road Resources (ASX: GOR) has reported excellent progress towards mine readiness at its 100% owned Yamarna Resources in WA.
HIGHLIGHTS
- Drilling at Gilmour is on schedule to deliver updated Resources and Reserves in late CY2024
- Technical studies to support a comprehensive feasibility study are being advanced, these include geotechnical, metallurgical, hydrological, and infrastructure planning
- Environmental studies and community engagement are progressing well with the Yilka People to co-design infrastructure corridors and support the permitting and approvals process including negotiation of a Native Title Agreement
- The technical and environmental studies, and community consultations are being progressed on the basis of Gilmour being the first of several potential mining developments within the 100% Gold Road owned Yamarna tenure
Yamarna mine readiness project
Gold Road’s 100% owned Yamarna Mineral Resources of 6.4 million tonnes at 2.44 g/t Au for 0.51 million ounces are currently undergoing studies as well as Reserve definition and Mineral Resource extensional drilling as part of the “Yamarna mine readiness project”.
The Yamarna mine readiness project is a program of drilling and studies that are designed to unlock future value from Gold Road’s 100% owned Yamarna tenements.
After delays associated with the significant rain event in March 2024, an expedited Reserve definition drilling program commenced at the Gilmour Resource (2.9 million tonnes at 3.28 g/t Au for 303,000 ounces), with three rigs in operation.
In addition to the Gilmour Reserve definition drill program, step out drilling to the north of Gilmour has returned favourable exploration results. Further drilling is now planned and has the potential to extend the Mineral Resource and the scope of the mining studies.
Gilmour is the largest of the Yamarna Resources. Exploration and mining studies over several years are anticipated to continue advancing several resources and prospects towards mine readiness along the prospective Yamarna Shear Zone between Gilmour and Earl’s Find.
The Yamarna Mineral Resources are anticipated to be developed by Gold Road and processed at Gruyere via toll treatment provisions under existing agreements with Gold Fields, Gold Road’s Joint Venture partner at Gruyere. The Gruyere development option provides a pathway to monetise the 100% owned discoveries and realise value from Gold Road’s Yamarna exploration program, while simultaneously providing additional optionality and enhancing the economics of Gruyere.