Gold Road (ASX: GOR)

Reported excellent progress as it advances its 100% owned Resources towards mine readiness at Yamarna.

Drilling at Gilmour is on schedule to deliver updated Resources and Reserves in late CY2024.

 

 

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Gold Road	ASX : GOR
Stage	Production   (50% JV)
Metals	Gold
Market cap	A$1.81 Billion   @ A$1.67
Location	Laverton, Western Australia
Website	www.goldroad.com.au

 

 

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Gold Road’s Yamarna Readiness Project Delivering Positive Results

Gold Road Resources Limited (ASX: GOR) (Gold Road or the Company) is pleased to report excellent progress as it advances its 100% owned Resources towards mine readiness at Yamarna.

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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.

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Encouraging definition drilling results from Gilmour Main Shoot

A 18,287 metre Reverse Circulation (RC) and 6,972 metre diamond (DDH) drilling program designed to increase confidence in and progress the Gilmour Mineral Resource (0.3 Moz at 3.28 g/t Au)1 to report an Ore Reserve in late CY2024 is nearing completion.

 

Results received to date
support and refine the existing geological interpretation, with better results including:
 10 metres at 7.59 g/t Au from 108 metres (GMRC00022)2
 5 metres at 11.29 g/t Au from 114 metres (GMRC00057)
 7 metres at 7.43 g/t Au from 40 metres (GMRC00023)
 5 metres at 9.83 g/t Au from 155 metres (GMRC00042)
 9 metres at 5.33 g/t Au from 81 metres (GMRC00046)
 4.45 metres at 10.72 g/t Au from 191.45 metres (GMRCD00082)

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Potential new mineralisation at Gilmour North

Geological interpretation and modelling of recently reported drilling results show potential for a new mineralised shoot approximately 700 metres northwest of Gilmour.

The strike length potential exceeds 350 metres with a thickness of between 3 to 8 metres with moderate to high grades of between 2.5 to 6.0 g/t Au. A broad spaced step-off diamond drilling program designed to test down dip extensions of these existing results is currently underway.

 

Previously reported results from this exploration drilling included:
 8 metres at 3.58 g/t Au from 203 metres (GMRC00099)
 8 metres at 2.54 g/t Au from 203 metres (GMRC00105)

Additional drilling has been planned to test the mineralisation at 100 metre spaced centres this year.

Favourable results may extend the Resource to be reported in 2024 and further expand the scope of the Yamarna Mine Readiness Project.

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 ounces4 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. 

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To View Gold Road Resources’ historical news, please click here

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To read the full news release, please click HERE

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Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

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Disclosure

At the time of writing the author holds shares in Gold Road Resources.

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