Gold Road Resources - Quarterly Activities and Cashflow Report

Gold Road Resources - Quarterly Activities and Cashflow Report

Gold Road Resources (ASX:GOR) has released its quarterly activities report for the period ending 31 March 2016, during which the Company delivered a positive Pre-Feasibility Study on its Gruyere Gold Project, 200km east of Laverton in Western Australia and moved to a Feasibility Study. The March quarter also saw the commencement of the 2016 regional exploration program on Gold Road's 5200km tenement holding in the Yamarna Greenstone Belt, which hosts Gruyere.


Highlights

Gruyere Pre‐Feasibility Study confirms long‐life gold mine (at A$1,500/oz Au)   

  • Pre‐Feasibility Study findings indicate a technically sound and financially viable Project  
  • Project generates in excess of A$1 billion in undiscounted free cash flow (pre‐tax) over  an initial 12‐year life* 
  • Maiden Ore Reserve of 3.17 million ounces of gold  
  • Feasibility Study commenced and on schedule for completion December 2016 quarter  

Gruyere Mineral Resource update includes 14 million tonnes Measured category 

  • Gruyere Mineral Resource increases 10% to 6.2 million ounces of gold  
  • Measured  Resource  increases  633%  to  0.5  million  ounces  of  gold  representing  approximately the first two years of production based on PFS projections  
  •  Indicated Resource converted to Measured Resource with minimal variance  
  • Geological interpretation and mineralisation model confirmed and refined  

2016 Regional Exploration Program underway  

  • Extensional RC drilling at Smokebush Dolerite adds 200 metres strike to mineralisation  
  • Reverse Circulation drilling completed at Smokebush, Yaffler prospects and in progress  at Toppin Hill prospect within South Yamarna Joint Venture (SYJV)  
  • Reverse  Circulation  and  early  diamond  drilling  completed  on  multiple  Wanderrie  Supergroup Anomaly targets (North Yamarna)  
  • Several  small  Aircore  programmes  drilled at MCS  prospect and Dorothy Hills  Camp  Scale Target (North Yamarna)

*See the Company’s ASX announcement entitled ‘Gruyere Pre‐Feasibility Study Confirms Long Life Gold Mine’ dated 8 February 2016 andthe notes regarding production targets on page 8 of this announcement.

To view the full report click here. 

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Gold Road Resources - Gruyere Resource Increases to 6.2 Million Ounces

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