Gold Road’s exploration strategy remains directed at delivering economic gold deposits that can be developed as standalone mining operations. This strategy is supported by the Discovery team’s pursuit of technical excellence and effective target testing which aim to create shareholder value through organic growth.
Definition Drilling and Studies
Grade Control Drilling and Studies
Gold Road holds approximately over 14,000 square kilometres of exploration tenure across Western Australia and Queensland.
Gold Road continues to evaluate and optimise this large portfolio, with the purpose of creating a high-quality exploration project pipeline that provides significant value to the business.
Yamarna (100% Gold Road)
Gold Road’s exploration activities continue to prioritise key targets within the Southern Project Area, a demonstrably prospective region of the Yamarna Greenstone Belt, which exhibits the fundamental geological elements required for hosting major gold deposits, such as fertile regional structures, prospective host rocks and local structural complexity.
Gruyere JV Exploration
Gruyere JV exploration efforts in 2023 were focused on the Golden Highway Project, located approximately 25 kilometres to the west of the Gruyere mine site. During the six months to June 2023, 15,495 metres of RC and 1,698 metres of Diamond resource definition drilling was completed on the Golden Highway. These programs aimed at extending the Indicated Resource categories is now complete. Significant economic intersections were received including 7 metres at 15.94 g/t Au, 4 metres at 26.83 g/t Au, 3 metres at 34.55 g/t Au, 0.49 metres at 141 g/t Au, 2 metres at 32.41 g/t Au and 5 metres at 11.45 g/t Au.
These encouraging results support Feasibility level studies, which are set to begin in the second half of 2023, in preparation for mining operations that are anticipated to commence in 2026.
Mallina West Project (100% Gold Road)
The 242 km² land package within the Mallina Basin, eastern Pilbara adjacent to De Grey Mining’s 10.6 million ounce Mallina Gold project, is largely underexplored.
Exploration activities at the Mallina project thus far in 2023 have focused on conducting RC drilling over priority targets on the western tenement package. Drilling has intersected alteration that is characteristic of known mineralisation elsewhere in the region.
Galloway Project (100% Gold Road)
The Galloway Project, one of several leases in underexplored far-north Queensland, has had its application granted presenting Gold Road with an early mover opportunity. The application was made after completing an Australia wide prospectivity study of gold discovery potential that best fitted the Company’s targeting criteria. These included fundamental principles for gold potential, exploration maturity, mineability and strategic fit.
Greenvale Project (100% Gold Road)
The Greenvale Project is another Queensland lease whose application has been granted and on-ground activities have commenced. The region is host to several gold occurrences and historical gold mining centres such as the Kidston (3.7 Moz production) and Mt Leyshon (3.5 Moz production) gold mines.
On-ground exploration activities have commenced at Greenvale with a focus on mineral system targeting through surface mapping and soils/rock chip geochemistry. Remote sensing and geophysical surveys are scheduled and will assist in delineating a priority target pipeline for follow up drill testing now scheduled for early 2024.