Gold Road encounters high-grades at Corkwood
THE DRILL SERGEANT: Gold Road Resources (ASX GOR) has reported high‐grade gold mineralisation in assays from the first Reverse Circulation (RC) drill program designed to test for bedrock gold mineralisation at the Pacific Dunes‐ Corkwood Camp Scale Target.
Corkwood is located approximately 50 kilometres north‐west of the company’s Gruyere gold deposit, and 50km north of the high‐grade Central Bore deposit.
The RC drilling identified bedrock gold mineralisation at the Washburn target, with best intersections including:
15CWRC0004
3 metres at 13.45 grams per tonne gold from 24m, including 1m at 36.76g/t gold; and
15CWRC0007
3m at 2.47g/t gold from 72m.
Gold Road explained the mineralisation to be associated with a mafic hosted east‐dipping shear zone.
The company indicated the multiple parallel mineralised shear zones appear to be associated with intrusive contacts, with two separate felsic porphyries identified.
Gold Road has now encountered mineralisation on three sections over a strike length of 80 metres, which remains open along strike and down dip.
The latest drilling tested bedrock mineralisation below coherent gold anomalism originally intersected in broad spaced Aircore drilling the company had completed in 2014, and I the first RC drilling completed in the Corkwood area.
The results achieved have provided the impetus for Gold Road to conduct follow‐up Aircore drilling to better define the extent of anomalism, and additional RC and Diamond drilling to define the broader framework of the gold mineralisation at Corkwood.
The company is now into a follow‐up infill Aircore program to provide increased definition of the Rickenbacker and Ibanez Aircore anomalies.
This program will hopefully identify coherent gold anomalies that would justify RC or Diamond drilling to test for bedrock gold mineralisation.
“Our first bedrock drill test has once again intersected high‐grade gold mineralisation in a new Camp Scale Target,” Gold Road Resources executive director Justin Osborne said in the company’s announcement to the Australian Securities Exchange.
“This provides us with the confidence in our targeting methodology and exploration practices to keep testing our identified gold anomalies.
“The multiple zones of mineralisation identified in this program, and high‐grade of gold mineralisation, suggests the Washburn Target has potential to yield discoveries given additional geological work and drill testing.
“With the infill Aircore program currently underway at Rickenbacker and Ibanez we aim to gain greater understanding of Corkwood in order to identify additional new areas for discovery success.”
Email: perth@goldroad.com.au
Website: www.goldroad.com.au