The Yamarna Terrane is located 200 kilometres east of Laverton in Western Australia. The Company holds interests in tenements covering approximately 6,000 square kilometres and a strike length in excess of 180 kilometres, providing access to one of the most highly prospective yet under explored greenstone belts in Western Australia.
Earlier in the year, the Gold Road exploration team completed its annual Yamarna exploration targeting process, which formed the basis of the Company’s $20 million exploration programme for the 2019 calendar year.
Exploration activities during the reporting period centred on more advanced Milestone 3 targets in the Southern Project Area and Milestone 2 targets in the Northern Project Area.
Priority Milestone 1 and 2 targets were also tested with aircore drilling. In the Northern Project Area programmes were completed at Corkwood North and Stock Route, and further work was conducted south of the Smokebush prospect and at Tobin Hill in the Southern Project Area. Follow-up programmes on these prospect areas will depend on ranking priorities once assays and geological data have been assessed.
Gold Road divides its Yamarna exploration activities into three main areas:
Central Project Area (100% and 50%) – incorporates the Gruyere JV tenements and Gold Road tenements within a 25 kilometre haulage radius from the Gruyere process plant, primarily focusing on the Gruyere to YAM14 and Golden Highway Deposits
Northern Project Area (100%) – includes the Corkwood (Ibanez), Bloodwood and Stock Route Camp Scale Target areas
Southern Project Area (100%) – includes the Wanderrie (Gilmour), Smokebush, Yaffler, Yaffler South, Toppin Hill and Hopwood Camp Scale Target areas
The 100% owned Northern and Southern Project Areas define clusters of highly prospective targets that Gold Road envisages could conceptually support future stand-alone production centres. The areas remain the focus of Gold Road’s greenfields exploration programme.
Gold Road uses a staged Project Pipeline approach to manage, prioritise and measure success of the exploration portfolio. Each target is classified by Milestone and ranked using geological and economic criteria. Regular peer review, prioritisation and strategy ensure that the highest quality projects are progressed across all stages of exploration.