News and Announcements
Drilling Results Enhance “Open Pit” Potential
- Published May 30, 2012 12:12AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Gold Road Resources Limited (Gold Road or the Company) (ASX: GOR) is pleased to announce further high-grade gold results at the Alaric 3 deposit, on its wholly-owned 5,000km2 Yamarna Belt in Western Australia, underpinning the Company’s plans to commence production in 2014.
Highlights:
– Consistently high-grade drilling results have increased the confidence in the economic viability of the Attila Trend
– Drilling results support plans to develop the first open pit at Alaric 3
– Yamarna Scoping Study and updated Attila resource on-track for Q3 2012
Consistently high-grade intercepts, from Alaric 3 located on the Attila Trend have increased the Company’s confidence in the economic viability of the trend, and potentially support plans to develop an open pit at Alaric 3 (Figures 1, 2, 3 and 4). Gold Road Chairman Ian Murray said the completion of the resource definition and expansion drilling program at Attila was an important part of the Yamarna feasibility study.
“We are mid-way through the Scoping Study for the combined mining of Central Bore and Attila, investigating an integrated mining model at Yamarna, which combines both open pit and underground methods, and building a plant,” said Mr Murray.
“Initial analysis from the 2008 Attila resource model showed that Alaric 3 was the optimal first open pit due to its higher-grades (as compared to the global resource average), shallow mineralisation and low stripping ratios. With these encouraging new drill results we look forward to re-optimising the open pit design.”
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To read full article, please click here.
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