Thanks for your email and your long term support of the company. From your email I can see you are up to speed with the exploration potential. As you say it has been a while between drinks with regards to exploration discovery (and news flow). We do intend to continue reporting on exploration on a quarterly basis, so you can expect something late this month or early next month.
You will no doubt recall the exploration update from earlier this year where we announced a revised strategy to focus on the southern project. We acknowledged that we needed to start focussing on what we see as meaningful discoveries. We have brought in new members of our team and upgraded our GIS support. We have also started targeting an area that has received no drilling previously and that means early stage aircore drilling. This drilling, as you probably know, is designed to drill through the cover and test bedrock geology to help us map the rocks, but also hopefully to generate some anomalism. This is how we discovered Gruyere. Often this low level anomalism, whilst useful to us for future targeting, is not so newsworthy. Hence the lack of news flow. It is our belief that the learnings from this drilling will allow for deeper, more newsworthy drilling in 2H20.
We could have continued adding smaller resources by drilling along the Yamarna shear to the north and south of the golden highway. We would have news on this, but our feeling is that it would not be as meaningful. Our belief is there is another big resource (likely many more) to be found and we want to find it.
There is a little more information on where we are drilling In our July presentation that was posted to the ASX on the same day as the quarterly.
I hope this is helpful, thanks for your feedback and please do get in touch at any time.
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gold road resources limited
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