Mid‐tier gold producer and exploration company Gold Road Resources Limited (Gold Road)
reports the first 100% company‐owned resource addition since the Gruyere Joint Venture
(Gruyere JV). The Mineral Resource of 3.5 million tonnes at 2.62 g/t Au for 297,600 ounces1
was estimated using an A$1,850 per ounce gold price assumption.
Highlights
New 297,600 ounce Mineral Resources at Gilmour and Renegade 100% owned by
Gold Road
Gilmour Maiden Mineral Resource of 2.6 Mt at 3.09 g/t Au for 258,400 ounces:
Open pit: 1.8 Mt at 2.21 g/t Au for 129,100 ounces
Underground: 0.8 Mt at 5.13 g/t Au for 129,300 ounces
120,000 ounces at 5.2 g/t Au (46%) of the Mineral Resource categorised as
Indicated
Mineralisation is dominated by a continuous laminated vein with coarse gold
drilled to 400 metres below surface
Initial metallurgical test‐work indicates potential recoveries ranging from 89% to
99% with 28% to 82% of the gold recovered by gravity separation2
Renegade3 open pit Inferred Mineral Resource of 0.9 Mt at 1.3 g/t Au for 39,200 ounces
Total attributable Mineral Resource now 3.6 Million ounces (100% Gold Road and 50%
Gruyere JV)
Gilmour and Renegade Mineral Resources have, subject to further studies, potential development flexibility, either as part of future standalone operations, contingent on further discoveries, or they could be developed and processed at Gruyere via toll treatment provisions under the Gruyere JV agreement
www.goldroad.com.au/media/2019/12/5de7006d62c53042839390.pdf