Gold Road Resources (ASX: GOR) continues to unlock gold mineralisation, including very high grades, at depth from current drilling within Western Australia’s mineral-rich Yarmana Belt.
The company has intersected grades of up to 110 grams per tonne (g/t) gold and confirmed the mineralised structure to a depth of 616 metres, the deepest drilled to date, within its Central Bore Project.
Diamond drilling highlights include 3.2 metres at 26.94g/t gold from 483.2 metres, including 1.23 metres at 50.58g/t gold and 0.2 metres at 110.22g/t gold, and 0.5 metres at 24.18g/t gold from 501.2 metres.
The Yamarna Belt, which is wholly owned by Gold Road, is a newly discovered gold region covering around 5,000 square kilometres on the Yilgarn Craton.
The Belt, adjacent to the 500 kilometre long Yamarna shear zone, is historically underexplored and highly prospective for gold mineralisation.
Geologically similar to the prolific Kalgoorlie Gold Belt, the Yamarna Belt has a resource of 1.2 million ounces of gold, hosts a number of significant new discoveries and lies north of AngloGold Ashanti (ASX: AGG) and Independence Group's (ASX: IGO) 7.89 million ounce Tropicana Gold Project.
Importantly, Gold Road’s new drilling results support the potential to increase the mine depth and the value of the project.
The current eight-hole diamond drilling program at Central Bore’s high grade Imperial Shoot was designed to increase confidence in the deeper sections of the resource, expand mine life and establish ore shoot geometry at depth.
The Imperial Shoot lode continues to be distinctively visible in the diamond core at depth and Gold Road is optimistic the Shoot will continue below 600 metres and that there is high probability it locally widens at depth.
Central Bore currently hosts a JORC Resource of 153,000 ounces of gold at an average grade of 9.1g/t, with 144,000 ounces of that already in the higher confidence Measured and Indicated categories.
Exploration plan
The last three diamond holes in the program at depths between 250 and 300 metres will be completed in January.
All eight deeper diamond holes and the previous 46 diamond holes, drilled between 19 and 420 metres depth, will be incorporated into the Central Bore resource model and factored into a new Central Bore mine plan, which will be used in the Pre-Feasibility Study due for completion in the June quarter 2013.
Gold Road is prioritising exploration of five Gold Camp Targets on the Yamarna Belt.
Identified in 2012 through interpretation of various geological and geophysical data sets, each target has a 15 to 20 kilometre strike length and contains numerous prospects.
GOR Price at posting:
13.0¢ Sentiment: None Disclosure: Not Held
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