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Gold Road Resources Limited (ASX:GOR) has presented results from its 100% owned Southern projects at Gilmour Deposit on November 19, 2018, i.e. today. The company has presented the exploration drilling results and has mentioned the continuity of high-grade gold mineralization at the site.
The main mineralized shear zone is about three to five metres wide with a coarse visible gold inside a highly continuous laminated quartz vein with slight alteration and lesser subsidiary gold bearing veins. The important controls to the Gilmour high grade mineralization included the intersection of the Gilmour main Shear geometry with the crosscutting Gilmour-Morello fault, changes in the Shear geometry and the contact location between sandstone rocks and the conglomerate. Visible gold of more than 0.5mm grains was common in almost all intersections that occurred with fractures in the laminated quartz vein and with all smaller subsidiary folded hanging wall quartz veins.
Gold observed in the drill core was very coarse and on account of its coarse nature, a more reliable and robust analysis was done for the coarse gold mineralization. Recent intersection included 4 metres at 19.61 g/t Au from 111 metres which included 1 metre at 74.98 g/t Au from 113 metres, it also included 8.14 metres at 7.11 g/t Au from 261 metres with 1.23 metres at 31.98 g/t Au from 170 metres.
Intersection of the mineralization was approximately 250 metres below the surface and was open at depth. Approximately 500 metres of resource drilling is under process.
The methodology adopted for this test was the traditional Fire Assay, and the results derived from the methodology were validated using a recently developed technique termed as Chrysos PhotonAssay by MinAnalytical laboratories. The PhotonAssay technique results from the hole 18WDDD0024 produced similar grades to the Fire Assay, which further confirmed well distribution of the gold throughout the vein.
Orexplore X-ray technology was used to scan the diamond core. The technology maps the density of the sample to almost 2 µm point scale, which provides a detailed understanding of the physical distribution of the gold grains in the rock. The scanning further confirms the evenly distribution of the gold throughout the central laminated quartz vein and in close association with the fractures and laminations that are running parallelly to the vein margins.
Based on the preliminary geological model outcome from the current broad drilling information, strongly positive conceptual economic assessment has been drawn. The positive and the encouraging results till date have well justified the ongoing extension to the diamond and infill reverse circulation drilling programmes which are expected to be completed during the December 2018 quarter.
Executive Director of Gold Road Exploration and Growth, Justin Osborne said that the highly positive results from the drilling program conducted at the Gilmour deposit have provided a very strong base towards the continuity of the extension programs, detailed drilling activities and new discoveries that will support the future resource modelling activities. He further said that the highly positive results supported by the width, grades and the extent of mineralization till date provided the encouragement to step towards the further progress of the Gilmour deposit and it will be one of the priority projects for the company in 2019. Highly positive results provided the support to the scrip to move up by 3.175% and close at $0.650 as at November 19, 2018.
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