As an expansive drilling program nears completion at its Gilmour prospect, Gold Road Resources (ASX:GOR) is expected to deliver updated resources and reserves later this year, with technical and environmental studies also in the pipeline.
The Gilmour prospect sits within the broader Yamarna Project in Western Australia.
At the Gilmour Main Shoot, 18,287m of reverse circulation and 6,972m diamond drilling has been undertaken to increase confidence in and progress the Gilmour resource — which currently measures 300,000 ounces at 3.28 grams per tonne (g/t) gold — to support the publishing of an ore reserve.
The company currently has two diamond drill rigs infilling and testing extensions at the Gilmour resource.
Gold Road, which has a market capitalisation of $1.79 billion, says the results received to date include 10m @ 7.59g/t gold from 108m, and 5m @ 11.29g/t gold from 114m.
Ore reserve definition drilling will continue throughout the year at Gilmour, with an updated resource estimate and ore reserve expected later this year.
At Gilmour North, geological interpretation and modelling of drill results show potential for a new mineralised shoot 700m northwest of the main shoot.
The company has designed a drilling program to test down dip extensions of the existing results, which is currently underway. Additional drilling has been planned for later in the year.
Gold Road says depending on results, the resource may extend and further expand the scope of the Yamarna Project.
Studies assessing the viability of upgrading the current Yamarna exploration camp and other infrastructure to support the potential future mining operations are underway and progressing.
Environmental studies to support regulatory permitting and approvals are also well advanced. A spring survey is planned to be undertaken later this year.
Gold Road Resources is a mid-tier Australian gold producer and explorer with assets covering 14,000km2 across Western Australia, South Australia, and Queensland.
Write to Aaliyah Rogan at Mining.com.au
Images: Gold Road Resources