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Greatland highlights 'tremendous' drilling results from Havieron gold-copper joint venture

Published: 04:16 28 Apr 2022 EDT

Greatland Gold PLC -

Greatland Gold PLC (AIM:GGP, OTC:GRLGF) highlighted “tremendous” drilling results from its flagship Havieron gold-copper project in Australia after joint venture partner Newcrest Mining Ltd released the new results in its quarterly reports.

Drilling into the Eastern Breccia returned an intercept about 100 metres (m) to the north of previously reported high-grade mineralisation (HAD104), and 100m east of the Eastern Breccia resource outlined in an updated mineral resource. The hole (HAD145AW1) returned 150.1m at 3.7 grammes a tonne (g/t) gold and 0.15% copper, including 42.3m at 8.6g/t gold and 0.4% copper.

In the Northern Breccia, high-grade results reinforced the potential for further high-grade sulphide mineralisation outside the South East Crescent zone. Hole HAD085W6 intersected 52m at 3.0g/t gold and 0.09% copper, including 17.9m at 7.7g/t gold and 0.07% copper.

“The early results from the 2022 growth drilling programme are tremendous with high-grade mineralised extensions identified across all tested target zones,” said Greatland managing director Shaun Day.

“Whilst growth drilling at the Eastern Breccia continues to define the mineralised footprint and extensions of the Breccia, a new high-grade intercept has reinforced the potential for the Eastern Breccia corridor to host Crescent-style high-grade mineralisation. 

“This demonstrates the ongoing potential for the expansion of the Havieron footprint below and adjacent to the existing mineralisation,” he said.

Construction activities by Newcrest, which has a 70% interest in the joint venture, have progressed. The exploration decline advanced 313m as at April 20, although Newcrest said it encountered poor ground conditions in the March 2022 quarter requiring changes to the design of the decline. As a result of this change, development rates are expected to improve in the June 2022 quarter.

Newcrest advised that first ore is now expected in the second half of FY24. It had previously announced that it was anticipated during FY24.

Greatland also noted that Newcrest is reviewing the overall project performance and schedule, including any impact of inflationary pressures, as part of the feasibility study. This study is expected to be delivered in the December 2022 quarter.

Greatland Gold discusses updated Havieron resource and reserve estimate from...

Greatland Gold PLC (AIM:GGP, OTC:GRLGF) managing director Shaun Day joined Proactive's Stephen Gunnion to discuss an updated Reserve and Resource for the Havieron gold-copper project released by joint venture partner Newmont. Newmont’s update includes 4.9 million gold equivalent ounces in the...

on 02/22/2024