Month September 2016

Gold Road Resources 2016 Annual Financial Statements

Gold Road Resources 2016 Annual Financial Statements. Tim Netscher, the Non-executive Chairman said in his Chairman's Report, "There is no doubt in my mind that in Gruyere, Gold Road has discovered a world-class gold project that bears all the hallmarks of success." The Gruyere and Attila Trend; regular external peer reviews were conducted by Optiro consultants, who also performed an independent database audit and provided an endorsement letter outlining their confidence in the mineral resource estimates. The Central Bore: reviews and independent estimation of the Mineral Resource were done by external consultants Optiro.
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Declustering – an essential part of resource evaluation. Author: Ian Glacken

Mining data, by its very nature, is rarely collected in a regular pattern; it is human nature, and very good business sense, to take more samples in the higher-grade parts of orebodies. As a consequence of this data for resource evaluation is almost always clustered. While the most common method of grade estimation, ordinary kriging (OK), inherently declusters the input data through the point-to-point covariance matrix, other estimation methods, such as inverse distance modelling, do not decluster the data for the purposes of estimation, and this can sometimes lead to biased results.
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