Gold Road Resources - Gruyere Resource Increases to 6.2 Million Ounces

Gold Road Resources - Gruyere Resource Increases to 6.2 Million Ounces

Gold Road Resources (ASX:GOR) has increased the Mineral Resource for its Gruyere Gold Project, east of Laverton in Western Australia by 10% to 6.2 million ounces. The resource update follows the completion of a detailed infill drilling program in late 2015, which provided the Company with a greater understanding of the geology and mineralisation of the top 100 metres of the Gruyere deposit. As part of the update, the Measured Resource at Gruyere has increased 633% to 0.5 million ounces of gold. 


Highlights

Gruyere Mineral Resource increases 10% to 6.2 million ounces of gold  

  • 148 million tonnes at 1.30 g/t Au for 6.16 million ounces of gold  
  • 0.5 g/t Au cut‐off and A$1,700/oz Au (previously 0.7 g/t Au cut‐off and  A$1,600/oz Au)  

Measured Resource increases 633% to 0.5 million ounces of gold

  • 14  million  tonnes  at  1.18  g/t  Au  for  0.53  million  ounces  based  on  15 kilometres of closely spaced Reverse Circulation (RC) drilling  
  • Equates to approximately two years of Pre‐Feasibility Study production   

Indicated  Resource  converted  to  Measured  Resource  with  minimal variance

Geological  interpretation  and  mineralisation  model  confirmed  and  refined

  • Primary mineralisation controls extend closer to surface than previously interpreted
  • Leached gold zone restricted to Weathered (clay and saprolite) Domain affecting only 0.5% of the  Mineral Resource  
  • Boundary between leached zone and Primary Domain well understood and delineated 

Gold Road Resources Limited (“Gold Road” or the “Company”) is pleased to announce completion of the latest update of the Gruyere Mineral Resource estimate in accordance with the 2012 JORC Code. The Gruyere Gold Project, situated 200 kilometres east of Laverton in Western Australia (Figure 1), now hosts a Mineral Resource totalling 147.7 million tonnes at 1.30 g/t Au for a total of 6.16 million ounces of gold, including 13.86 million tonnes at 1.18 g/t Au for a total of 0.53 million ounces of gold in the Measured category (9% of the total resource metal).

Gold Road Executive Director, Justin Osborne said: "After completing a detailed infill drilling programme in late 2015, equivalent to grade control drilling in its spacing, we now have a greater understanding of the top 100 metres  of the geology and mineralisation of the Gruyere Deposit.  This next iteration of the Gruyere Mineral Resource now  includes a significant quantity of Measured Resource which has been upgraded from previously classified Indicated  Resource with no material change in the contained tonnes, grade or ounces.  This gives us a tremendous level of  confidence to take into the Feasibility Study, and future mining operations, that the resource model itself provides  a very good predictor of the Gruyere mineralisation.  The geological team have once again delivered an outstanding  result and continue to improve on our significant knowledge of the Gruyere Deposit in readiness for future Project  developments.” 

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