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Gold Road Resources Confirms Successful Results at Alaric Gold Project

Gold Road Resources Confirms Successful Results at Alaric Gold Project
The programme indicated gold mineralisation over a strike length of 700 metres. Below the current open-pit resources, high-grade mineralisation was discovered 160 metres below surface.
Oct 17, 2016 By Simon Herrmann Tags: GOR

Australian gold miner Gold Road Resources (ASX:GOR) confirmed high-grade extensions at the Alaric Deposit, 24 kilometres from its flagship Gruyere Gold Project. The drilling results could improve the economics of Gruyere.

Alaric to Improve Economics of Gruyere?

In an announcement to the ASX, Gold Road Resources stated the infill and extensional drilling programme at the Alaric Deposit has been successfully completed. The company targets additional high-margin gold deposit near the 6.2 million ounce Gruyere project to improve the economics which have been identified in the Pre-Feasibility Study. Gold Road targets completion of the Feasibility Study soon, however the Alarci Project is not included, thus providing additional upside.

The programme indicated gold mineralisation over a strike length of 700 metres. Below the current open-pit resources, high-grade mineralisation was discovered 160 metres below surface.

Justin Osborne, Executive Director of Gold Road Resources commented: “We continue to be encouraged by the results of our ongoing satellite high-margin drilling program. The high-grade extensions we have identified now offer us the opportunity to assess Alaric as a potential open pit and/or underground source that might deliver significant additional value to our world class Gruyere Project.”

Going forward Gold Road will focus on understanding the high-grade mineralisation as well as update the Mineral Resource during the first half of 2017. Once completed, the company will work towards Pre-Feasibility studies.

About Gold Road Resources

Gold Road Resources holds interest in tenements covering 5,000 square kilometres in the Yamarna Belt, near Laverton in Western Australia. Overall Gold Road’s licence includes 6.6 million ounces of gold, with 6.2 million ounces located at the Gruyere Deposit which was discovered in 2013. The company is currently planning to take Gruyere to production as early as 2017. The Pre-Feasibility Study indicates a financially viable project generating in excess of A$1billion in free cash-flow over a 12 year project life.

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Simon Herrmann Author: Simon Herrmann Oct 17, 2016

Simon is a financial analyst at independent research firm Wise-owl who wants to change the world by disrupting the cliché approach to investment decision making with convergent thinking. Wise-owl’s goal is plain and simple: Find the best opportunities for our members by following a proven methodology and to create long-term value through high-quality advice, innovation, technology and education. We combine industry experience and the agile mentality of a start-up. Wise-owl is the future of stock market investing.

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