Gold Road Resources announced that drilling has commenced on its $23 million 2018 greenfields exploration drilling campaign at Yamarna . Four drill rigs operated by Ranger Drilling and DDH1 Drilling have commenced across the prioritised Company projects.
Following completion of our latest exploration targeting project over the summer period, our prioritised drill programme aims to test all the highest‐ranked prospects through 2018. The majority of this year’s budget ($17 million) is allocated to the Company’s 100% owned Yamarna tenements, where drilling has commenced on a campaign designed to maximise the chances of discovering multi‐million ounce gold deposits capable of supporting the development of stand‐alone gold mining operations. The remainder of the budget ($6 million) is allocated to exploration on the Gruyere Project Joint Venture (Gruyere JV), a 50:50 joint venture with Gold Fields Limited, where Gold Road as Manager is targeting additional high‐margin deposits to supplement the Gruyere Project Life of Mine schedule.
Commenting on the 2018 greenfields drilling campaign, Justin Osborne, Executive Director – Exploration and Growth, said: “Our Yamarna Exploration Team has done excellent work in planning a well‐structured drilling campaign for 2018. Incorporating the drilling data and new geological interpretations from 2017, and maintaining our strict quality focus, we have balanced practicality with the flexibility required for remote greenfields exploration, while maintaining our continued focus on quality drill targets. We will intersperse our main activities targeting new stand‐alone discoveries with programmes focussed on important resource and reserve development to add high‐margin satellite feed to the Gruyere JV. With drilling underway, we are now looking forward to receiving our first assays for the year and continuing the development of the Yamarna Belt as Australia’s newest gold district.”
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