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Highlights:
- Gold Road Resources (ASX:GOR) increased its mineral resources by 6% to 4.81Moz.
- Ore reserves rose by 5%, reaching 43Mt at 1.39 g/t for 1.92Moz.
- Gruyere joint venture mineral resource grew 18% to 157Mt at 1.42 g/t for 7.14Moz.
Gold Road Resources Ltd (ASX:GOR) has expanded its mineral resources in Western Australia by 6%, adding 0.3 million ounces to reach a total of 4.81 million ounces (Moz). Concurrently, the attributable ore reserves have increased by 5% to 43 million tonnes (Mt) at 1.39 grams per tonne (g/t) for 1.92Moz. The growth in resources and reserves reflects ongoing exploration efforts, updated economic parameters, and geological refinements.
A substantial portion of the mineral resource increase stems from the Gruyere joint venture between Gold Road Resources and Gold Fields. The Gruyere mineral resource experienced an 18% rise, reaching 157Mt at 1.42 g/t for 7.14Moz. This uplift was largely driven by enhancements to the geological model, new drilling data, and revised economic considerations. The Gruyere open pit mineral resource alone expanded to 137Mt at 1.37 g/t for 6.05Moz, reflecting an additional 0.83Moz. These gains were achieved through a 90-metre deeper pit shell, enabled by the incorporation of fresh geological insights and economic updates.
The Golden Highway mineral resource also saw an increase, reaching 19Mt at 1.57 g/t for 0.96Moz, representing a 0.30Moz rise. This improvement was primarily due to the inclusion of a larger pit shell at the Attila deposit. Extensional drilling and updated economic assumptions contributed to this growth, further supporting the broader strategy of resource expansion within the joint venture framework.
The recent updates to the mineral resource and reserve estimates underscore the potential of Gold Road Resources' assets. The Gruyere joint venture continues to be a significant contributor to the company’s resource base, with sustained exploration efforts aimed at maximizing long-term production potential. The deeper pit shell and expanded resource base position the project for extended operational life and enhanced economic returns.
Gold Road Resources remains focused on optimizing its existing assets through targeted exploration and technical improvements. The ongoing expansion efforts align with the company’s strategic objective of resource growth and operational efficiency. The collaboration with Gold Fields in the Gruyere joint venture further strengthens the project’s potential, with continuous refinements enhancing resource confidence and economic feasibility.
The latest mineral resource and reserve updates highlight the effectiveness of Gold Road Resources' exploration strategy and technical approach. Future exploration and drilling programs are expected to provide further opportunities for growth and development across its Western Australian operations. The commitment to resource expansion and reserve optimization underscores the company’s long-term vision and dedication to maximizing shareholder value through disciplined exploration and strategic development initiatives.
