Gold Road reports on its exploration results, budget and strategy to make a meaningful discovery that supports a standalone operation.

Gold Road has been pro-active in its preparedness for COVID-19, with extensive measures to ensure the welfare of our people and the community are in place.  To date there have been no material impacts on our exploration work programmes at Yamarna, but work has been temporarily suspended at the Cygnus JV in the south-west of Western Australia.  

• Gold Road’s strategy is to discover a significant Reserve base to support a standalone operation
• 2020 exploration budget of $26 million (100% basis)
• The focus of the 2020 exploration programme remains on the 100% Gold Road owned Southern Project
• The Discovery team has been restructured to include a technical team designed to enhance the effectiveness of the exploration investment.

• Follow-up diamond drilling has been completed testing high-grade shoot controls in the hangingwall to the Gilmour Main Lode.  This drilling confirmed significant potential for high-grade mineralisation requiring further interpretation and drilling, with best intercepts including:
  • 5.62 metres at 36.64 g/t Au from 203.80 metres 
  • 4.64 metres at 43.78 g/t Au from 266.46 metres 
  • 4.34 metres at 13.04 g/t Au from 191.66 metres 

• Early stage regional infill and first pass aircore drilling (26,661 metres) focused on the high priority Hirono and Bluebell targets in the Southern Project Area.