TSX-listed Minco Silver Corporation has acquired 5% of the common shares of Gold Road Resources, an Australian publicly-listed exploration company. Gold Road's principal asset is the Gruyere gold deposit in Western Australia's prolific Yilgarn Craton.
Gruyere is in the South Dorothy Hills Trend and has a JORC-compliant measured and indicated resource of 40.19 million tonnes @ 1.22 grams/tonne gold for 1.578 million ounces and inferred resource of 56.74 million tonnes @ 1.24 grams/tonne for 2.260 million ounces.
Minco Silver says the investment in Gold Road was made for investment purposes. The company is continuing to look for other opportunities in silver and/or gold dominant projects outside China, and is committed to advancing the world-class Fuwan Silver project in Guangdong province, China.
Gold Road is focused on developing the Yamarna Belt within Yilgarn Craton and exploring a pipeline of high-quality gold prospects across the region. The first Gold Camp target was the South Dorothy Hills Trend which yielded the Gruyere and YAM14 discoveries. The discoveries, about 9km apart and on the same structural trend, about 25km northeast of Central Bore, exhibit two different mineralization styles not seen before in the Yamarna Belt, and confirm the potential for the Dorothy Hills Trend to host further significant gold deposits. www.mincosilver.ca