Gold Road Resources (ASX: GOR) has 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. 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.
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 three to eight 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.
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.
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 programme 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 programme 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 programme, 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.
