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Gold Road Resources intersects high-grade gold at Gilmour deposit, confirms continuity

The company is developing an extensive portfolio of exploration assets in Western Australia’s “Golden Highway”.

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Diamond drill core with visible gold using Orexplore X-ray imaging

Gold Road Resources Ltd (ASX:GOR) has intersected further high-grade gold in exploration drilling at the Gilmour deposit within its Yamarna belt holdings.

The drilling results confirm continuity of high-grade mineralisation and a positive conceptual economic assessment based on a preliminary geological model has been completed.

The assessment results justify ongoing follow-up extensional diamond and infill reverse circulation (RC) drilling which will be completed during the December quarter.

 

Gold Road executive director exploration & growth Justin Osborne said the Gilmour deposit was shaping up to be a very interesting discovery, exhibiting excellent continuity of mineralisation characterised by a consistent and predictable gold-bearing quartz vein in most intersections.

He said: “A diligent focus on understanding both the geological controls to mineralisation, and the potential economic value of the discovery has allowed the team to rapidly advance the project to detailed drilling capable of supporting potential future resource modelling activities.

“The widths, grades, and extent of mineralisation identified to date provide the encouragement to progress Gilmour as one of the priority projects going into 2019.”

High-grade gold assays

Highlighted intersections include: 4 metres at 19.61 g/t gold from 111 metres, including 1 metre at 74.98 g/t from 113 metres; and 8.14 metres at 7.11 g/t from 261 metres, including 1.23 metres at 31.98 g/t from 267.91 metres.

Further results include: 3 metres at 12.77 g/t from 170 metres, including 2 metres at 18.98 g/t from 170 metres; and 5 metres at 5.12 g/t from 219 metres, including 1 metre at 24.06 g/t from 221 metres.

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Mineralisation was intersected over 250 metres below surface and is open at depth.

The main mineralised shear zone is about 3-5 metres wide and characterised by coarse visible gold within a highly-continuous laminated quartz vein, with moderate alteration and lesser subsidiary gold-bearing veins.

Due to the coarse nature of the free gold observed in drill core, results derived from the traditional fire assay methodology were validated using the recently developed Chrysos PhotonAssay technique.

This technique, offered by MinAnalytical laboratories, can investigate potential nugget-related issues and provide a more robust and reliable analysis of the coarse gold mineralisation.

The diamond core was also scanned using Orexplore X-ray technology, which maps the density of the sample and allows a detailed understanding of the physical distribution of gold grains in the rock.

READ: Gold Road Resources completes final cost estimate for the Gruyere Gold Project

Gold Road’s exploration is focused on its 6,000-kilometre landholding in Western Australia’s Yamarna belt, 200 kilometres east of Laverton.

In November 2016, Gold Road entered into a partnership with Gold Fields Ltd (NYSE:GFI) for the Gruyere Joint Venture covering 144 square kilometres.

The company uses a staged project pipeline approach to manage, prioritise and measure success of its exploration portfolio.

Each target is classified by a milestone and ranked using geological and economic criteria.

Quick facts: Gold Road Resources Ltd

Price: 1.725 AUD

ASX:GOR
Market: ASX
Market Cap: $1.52 billion
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