Gold Road - Smokebush Prospect - Regional RC Drilling Complete

Gold Road - Smokebush Prospect - Regional RC Drilling Complete

Gold Road Resources (ASX:GOR) has completed a program of reverse circulation drilling at the Smokebush Dolerite gold prospect, with results confirming the extension of mineralisation to the north and identifying variable sheared structures. One hole also intersected gold mineralisation in a shear zone. THe Smokebush Dolerite prospect is located within the Riverina-Smokebush Camp Scale Target, part of Gold Road's South Yamarna Joint Venture with Japan's Sumitomo. 


Highlights

  • Gold mineralisation intersected in quartz‐sulphide shear zone 200 metres north of existing drilling
  • Shear hosted Smokebush Dolerite gold mineralisation extended to 1,300 metre strike
  • Drill hole 16SYRC0044 returned 3 metres at 1.67 g/t Au from 121 metres, including 1 metre at 2.49 g/t Au

Gold Road Resources Limited (“Gold Road” or the “Company”) is pleased to announce the completion of its latest Reverse Circulation (RC) drilling programme at the Smokebush Dolerite gold prospect. The Smokebush Dolerite occurs in the Riviera‐Smokebush Camp Scale Target which is within the South Yamarna Joint Venture with Sumitomo Metal Mining Oceania Pty Limited (Sumitomo).

This 12 hole RC programme was designed to assess potential for the known gold bearing shear zone to extend to the north into interpreted favourable geological zones. The programme successfully confirmed the extension of the Smokebush Dolerite to the north, identified variable sheared structures, and intersected gold mineralisation in a shear zone in one hole.

Drill hole 16SYRC0044, situated approximately 200 metres north of the previously identified high‐grade mineralisation in the Smokebush prospect, returned intercepts of 4 metres at 0.61 g/t Au (and 423 ppm Arsenic) from 92 metres, 1 metre at 0.59 g/t Au (8,127 ppm Arsenic) from 119 metres, and 3 metres at 1.67 g/t Au (9,962 ppm Arsenic) from 121 metres, including 1 metre at 2.49 g/t Au. Two additional holes, 16SYRC0045 and 16SYRC0046 located to the east of 16SYRC0044, both produced anomalous gold intercepts greater than 0.1 g/t Au, with coincident high Arsenic values, which successfully confirmed the extension of this complex mineralised shear system at Smokebush. Gold mineralisation is hosted within discrete shear zones characterised by quartz veining and strong arsenopyrite alteration within the Smokebush Dolerite, which is typical of the mineralisation style previously intersected. These new intercepts extend the prospective strike of mineralisation at Smokebush to 1,300 metres and confirm that the Smokebush Dolerite zone continues to the north into a zone of demagnetisation, which is consistent with the Company’s interpretations. The two northern drill lines, located 800 metres and 1,600 metres north of 16SYRC0044, both successfully intersected the prospective dolerite sill but failed to intersect mineralised shear zones.

A detailed ground‐based magnetic survey is now being conducted over an area measuring 3,000 metres long (north‐ south) by 1,200 metres wide (east‐west), and covering the entire Smokebush Dolerite Prospect area at a line spacing of 10 metres. This detailed survey will provide very high resolution data required to aid identification of subtle strike changes in the shear zone, which are interpreted through detailed structural analysis of drill core to be a major control on the development of high‐grade shoots at Smokebush.

Executive Director Justin Osborne said “This new programme has successfully confirmed the extension of the Smokebush Dolerite, and the gold mineralised shear zone, for another 200 metres, which gives us a total identified strike length of 1,300 metres. Now that we have defined the mineralised zone we will commence detailed targeting of the high‐grade shoots identified previously on this prospect, aided by the current magnetic survey. While the Smokebush Prospect area remains one of our priority targets within the South Yamarna tenements, we are also very excited by the prospect of ongoing anomaly drill testing of additional targets in the Joint Venture.”

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