Gold Road Resources Limited (ASX:GOR) announced that an updated JORC 2012 Mineral Resources estimate has been completed for the Yamarna belt. The total Mineral Resource amounts to 134.31 million tonnes at 1.41 g/t Au for a total of 6.07 million ounces of gold. This Mineral Resource is based on an update to Gruyer utilising the 68 kilometres of previously reported drilling and an update of the Attila Trend Mineral Resources to JORC 2012 standards based on existing drilling. This updated represents an increase of 375,000 ounces of gold, up 7 per cent on the previously reported total JORC 2012 Mineral Resources.
Gold Road’s Executive Director, Justin Osborne commented, “I would like to congratulate the Gold Road team on completing the latest Gruyere Mineral Resource for use in our Pre-feasibility Study, highlighted by a significant grade increase which adds further upside to this very exciting project. We are also pleased to have updated our entire Yamarna Mineral Resource to JORC 2012 standards, which adds additional rigour and quality to our resource base, and now provides additional resources in the Attila Trend deposits that can potentially contribute to extending the mine life of our Gruyere Project.”
JORC stand for Joint Ore Reserves Committee. A body sponsored by the Australian mining industry and its professional organisations, which sets minimum standards for the measurement and reporting and mineral reserves and resources. Gold Road’s results have been updated to JORC standards, thus increasing their validity and quality, providing investors with peace of mind.
GOR’s share price has been ascending steadily over the last 24 months, however has experienced a few bumps along the way. More recently, the confirmation of gold mineralisation at Smokebush Dolerite has boosted the share price as it continues to ascend. Following today’s announcement, GOR is likely to experience further growth.
Author: Ben Visser
Sep 16, 2015
Ben is a Wise-owl equity analyst focusing on ASX blue-chips stocks. Ben has a Bachelor of Business in Finance majoring in property valuations and management. In his role at Wise-owl Ben conducts in-depth fundamental and technical analysis which helps him to find profitable investment opportunities on the ASX and abroad.