Gold Road - Yamarna Mining Leases Granted
Gold Road Resources (ASX:GOR) has announced that following the signing of an historic native title agreement, it has been granted mining leases for the Gruyere, Central Bore and Attila projects. These projects, owned 100% by Gold Road, are located in the Yamarna Greenstone Belt approximately 200 kilometres east of Laverton in Western Australia and include the three JORC-compliant resources discovered by the company in the region.
Gold Road Resources Limited (“Gold Road” or the “Company”) is pleased to announce that following the signing of the historic native title agreement, a major milestone for the Gruyere Project has been reached with the grant of mining leases covering the Company’s Gruyere, Central Bore and Attila projects. These leases, owned 100% by Gold Road, are located in the Yamarna Greenstone Belt, approximately 200 kilometres east of Laverton in Western Australia.
The Gruyere and Central Bore Native Title Agreement signed with the Yilka People and the Cosmo Newberry Aboriginal Corporation (CNAC) on 3 May 2016 enabled Gold Road to lodge State Deeds for the mining leases, which have subsequently been granted by the West Australian Government.
The leases cover all three JORC 2012-compliant gold resources discovered by Gold Road in the Yamarna Belt, including the 6.2 million ounce Gruyere deposit, which is currently the subject of a Feasibility Study and is expected to be developed as the Company’s first gold mine.
Gold Road Executive Chairman Ian Murray said: “Securing the mining leases represents a further achievement in the ongoing de-risking of the Gruyere Project and we would like to thank the state government, the Yilka People and CNAC for their support in reaching this significant milestone. The Company looks forward to bringing the Gruyere Project into production and delivering the associated benefits to all stakeholders.”
Gold Road is on schedule to complete its Feasibility Study over the Gruyere Project by the end of 2016, allowing a final investment decision on the Gruyere Project shortly thereafter. The Central Bore and Attila deposits, which were not included in the PreFeasibility Study completed on the Gruyere Project in February this year, nor the ongoing Feasibility Study, offer the potential to improve the future economics of the Gruyere Project with further technical work.
Following completion of the recently announced $74M share placement and entitlement offer, Gold Road will be well funded to complete the Feasibility Study and commence securing long lead items and related early-works activities for the Gruyere Project.