Name and Location
Gruyere gold project, Australia.

Client
Gold Road Resources.

Project Description
The Gruyere gold project has mineral resources estimated at 137.81-million tonnes grading 1.24 g/t for 5.51-million ounces of contained gold.

Stage 1 of Gold Road’s two-part prefeasibility study (PFS) for the development of the project, which focuses on option studies, has determined that the best way forward to complete the PFS is a large-scale openpit mine using a conventional gravity/carbon-in-leach circuit processing facility powered by a pipeline-supplied, gas-fired power generation plant for an initial life-of-mine of 10 to 15 years. Average gold production is estimated at 250 000 oz/y.

The PFS proposes to mine the Gruyere resource using conventional drill, blast, load and haul openpit mining methods.

The proposed plant is a conventional 7.5-million-tonne-a-year gravity/carbon-in-leach processing facility.

The comminution circuit consists of primary crushing and semiautogenous milling, with pebble crushing and grinding to a size range of 106 μm to 150 μm, depending on material type and recovery versus operating cost trade-off requirements related to the prevailing gold price.

Net Present Value/Internal Rate of Return
Not stated.

Value
Not stated.

Duration
Not stated.

Latest Developments
The Gold Road board has approved the PFS to progress immediately to completion.

The full PFS, including modelling of capital and operating costs, remains on schedule for completion in the March 2016 quarter.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Gold Road Resources, tel +61 8 9200 1600, fax +61 8 9481 6405 or email perth@goldroad.com.au.