Gold Road Resources has launched its $23 million 2018 greenfields exploration drilling campaign in Western Australia.
The company plans to drill 163,500m in 2018, with particular focus on its 100 per cent owned Yamarna tenements (144,000m).
Perth-based Gold Road announced yesterday that four drill rigs operated by Ranger Drilling and DDH1 Drilling had started drilling activities across its priority projects.
The prioritised drill program aims to test the highest ranked prospects identified during its latest exploration targeting project, which was undertaken over the summer months.
Gold Road has allocated $17 million of its 2018 exploration budget to the Yamarna tenements.
The Yamarna campaign has been designed to maximise its chances of discovering multi-million ounce gold deposits that could support the development of a stand-alone gold operation.
Gold Road executive director – exploration and growth, Justin Osborne, believes the company’s exploration team has a well-structured drilling campaign planned 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,” Osborne said.
“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.”
The remainder of Gold Road’s exploration budget will be spent at the Gruyere joint venture with South Africa’s Gold Fields. The JV expects to pour first gold at Gruyere in the March 2019 quarter, with the ongoing exploration at the property aiming to strengthen the longevity of the operation.