South Yamarna JV Acquisition
Gold Road concluded the acquisition of the 50% interest in the South Yamarna Project held by Sumitomo Metal Mining Oceania Pty Ltd (Sumitomo) with full payment of the outstanding purchase amount (refer ASX announcement 5 February 2018) on 4th May 2018. The acquisition consolidates Gold Road’s ownership over the majority of the Yamarna Belt, which now totals approximately 5,000 km² covering the 100% owned Yamarna Project (previous North Yamarna and South Yamarna JV), 50% of the Gruyere Joint Venture (144 km²), and the 100% owned Throssel Project (1,150 km²) north-east of Yamarna.
Consolidation of the South Yamarna Project area and it’s highly prospective targets, has allowed Gold Road to prioritise and focus on highest ranked prospects compared to previous years. Priority targets to be tested in 2018 include Smokebush, Toppin Hill, Breelya, Yaffler South, Kingston North, and Hirono Trend. These targets are all within 15 to 30 kilometres of the Supergroup Trend on the Wanderrie Camp, and constitute a very exciting and prospective part of the Yamarna Project which will be a major focus of activity through 2018.