Microsoft Word - Topping Hill EIS drilling Nov 2015.docx
ASX Announcement
4 November 2015
TOPPIN HILL EIS DRILLING CONFIRMS SIGNIFICANT GOLD MINERALISATION
(SOUTH YAMARNA JV WITH SUMITOMO METAL MINING OCEANIA PTY LIMITED)
Highlights
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Diamond hole 15SYDD0003B intersects 9.14 metres at 3.49 g/t Au from 143 metres, including 3.48 metres at 6.44 g/t Au from 143.82 metres
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This is the first co‐funded diamond drilling by the WA Government Exploration Incentive Scheme completed at the Toppin Hill Camp Scale Target
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Shear hosted quartz‐sulphide lode identified in RC drilling confirmed
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Correction to high grade intercept announcement of 6.76 metres at
31.13 g/t Au in diamond hole 15SYDD0008 at Smokebush Dolerite
Gold Road Resources Limited (Gold Road or the Company) is pleased to announce that the first diamond hole (15SYDD0003B) has been drilled at the Toppin Hill Dolerite Prospect, co‐funded by the Western Australian Government Exploration Incentive Scheme (EIS), completed to a depth of 501.1 metres. Drilling successfully confirmed mineralisation identified in previous RC drilling (refer ASX announcement dated 29 May 2014) with an intersection of 9.14 metres at
3.48 g/t Au from 143 metres, including 3.48 metres at 6.44 g/t Au from 143.82 metres.
The Toppin Hill Dolerite occurs in the Breelya‐Toppin Hill Gold Camp Scale Target which is within the South Yamarna Joint Venture with Sumitomo Metal Mining Oceania Pty Limited (Sumitomo). Sumitomo is earning up to a 50% interest in the Joint Venture.
ASX Code GOR
ABN 13 109 289 527
COMPANY DIRECTORS
Ian Murray
Executive Chairman
Justin Osborne
Executive Director
Russell Davis
Non-Executive Director
Tim Netscher
Non-Executive Director
Martin Pyle
Non-Executive Director
Kevin Hart
Company Secretary
CONTACT DETAILS
Principal & Registered Office Level 2, 26 Colin Street West Perth WA 6005
www.goldroad.com.au [email protected]
T +61 8 9200 1600
F +61 8 9481 6405
Drill‐hole 15SYDD003B was drilled as a standalone deep stratigraphic hole designed to drill through the differentiated dolerite sill to provide detailed stratigraphic and structural data. The hole successfully intersected the gold mineralisation identified by the previously reported RC holes, with the new intercept confirming an RC intercept of 12 metres at 4.65 g/t Au (14SYRC0002) which was within 10 metres of this diamond hole. Mineralisation is clearly hosted within a discrete shear zone with quartz‐sulphide lode structures coincident with the better grades including a central higher‐grade zone of 3.48 metres with sequential grades of 5.44 g/t, 7.04 g/t, and 9.46 g/t, for an intercept grade of 6.44 g/t Au.
The mineralised structure is hosted within a north‐west striking shear zone that cuts through a differentiated dolerite sill located between two north striking felsic intrusions. Strike length of identified gold mineralisation is 800 metres, which remains open down dip. Comprehensive geochemical sampling, downhole geophysical surveying and structural analysis is being completed to produce a structural and geological model for the Toppin Hill Dolerite, and assist in targeting follow up drilling under consideration for 2016.
Correction to Smokebush Dolerite Diamond Drill Hole Assay
Final assays have also been returned and validated for the high‐grade mineralisation reported from the Smokebush Dolerite diamond hole 15SYDD0008 (refer ASX announcement dated 20 October 2015). The individual assay values have been confirmed. However, it was noted an error was made in transcription of the interval hosting the high‐ grade assay of 191.36 g/t Au. The interval was incorrectly reported from 173.60 to 174.00 metres for 0.40 metres, which has now been corrected to 173.06 to 174.00 metres for 0.94 metre width. The recalculated total intercept is reported as 6.76 metres at 31.13 g/t Au from 167.71 metres, corrected from 6.76 metres at 15.85 g/t Au.
Executive Director Justin Osborne commented 'This new drilling has confirmed the detailed geology of the Toppin Hill discovery as being hosted within a very prospective differentiated dolerite sill. The discrete nature of the shear zone, and visually obvious gold mineralisation provides us with a very good target model to follow up on. Along with the high‐grade discovery recently made at Smokebush in a similar dolerite, we now have two exciting projects to focus JV attention on going into 2016.'
Figure 1 - West‐East section on 6837949mN showing previous RC drilling and new EIS diamond hole.
Figure 2 - Plan view of Toppin Hill Dolerite drilling on a background of RTP Tilt magnetics. The new EIS diamond hole, 15SYDD0003B, is located 10 metres East of high grade RC hole 14SYRC0002. Mineralised gold RC intercepts have been previously reported over almost 800 metres strike, with trend of the mineralised envelope identified by the red outline.
Figure 3: Gold Road 100% tenements and Gold Road‐Sumitomo South Yamarna Joint Venture tenements showing location of the Breelya‐Toppin Hill Gold Camp as well as other Gold Camps and Redox Targets
For further information please visit www.goldroad.com.au or contact:
Gold Road Resources Ian Murray Executive Chairman
Telephone: +61 8 9200 1600
Media and Broker Enquiries: Cannings Purple
Annette Ellis ‐ [email protected]
Warrick Hazeldine ‐ [email protected] Tel: +61 8 6314 6314