Gold Fields to acquire interest in project in W Australia

Johannesburg - Gold Fields [JSE:GFI] announced on Monday that it has, through its wholly-owned Australian subsidiary Gruyere Mining, agreed to acquire a 50% interest in ASX listed Gold Road Resources' Gruyere Gold Project in Western Australia.

It will form a 50:50 unincorporated joint venture over Gruyere to develop, construct and operate Gruyere. The acquired interest and Gruyere Joint Venture includes the Gruyere, Central Bore, Attila/Alaric and other associated deposits.

Gruyere is a large shear hosted porphyry gold deposit, with reserves of 3.5Moz and total resources of 6.2Moz. Gold Road's drilling demonstrates that mineralisation likely continues at depth beneath the planned pit shell. The deposits at Central Bore could further add additional value to the Gruyere development.

Including these other ore sources, the JV has total resources of 6.6Moz.

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