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Gold Road launches scoping at Gruyera

Gold Road launches scoping at Gruyera

Photo by Bloomberg

6th August 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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KALGOORLIE (miningweekly.com) – Junior developer Gold Road Resources has launched a scoping study on its Gruyera project, in Western Australia, after declaring a 3.84-million-ounce maiden resource.

Gold Road executive chairperson Ian Murray told delegates at the Diggers & Dealers conference, in Kalgoorlie, on Wednesday, that Gruyera’s gold-in-ground value was around A$5.5-billion, at current gold prices.

The Gruyera project currently has a mineral resource of 96.93-million tonnes, grading 1.23 g/t gold, with some 41% of the resource classified as measured and indicated.

Murray pointed out that the Gruyera maiden resource was declared within 12 months of project discovery, compared with the four-million-ounce Tropicana maiden resource, which took nearly three years to complete.

The scoping study for the Gruyera project would be finalised by the end of the year, Gold Road exploration manager Justin Osborne added, with feasibility studies planned soon after, subject to positive scoping study results.

If all went to plan, construction of the Gruyera project could start by 2016/17.

Edited by Creamer Media Reporter

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