Greatland Gold PLC (AIM:GGP) Havieron Exploration and Development Update

South East Crescent high grade zone extended which following recent Growth Drilling
is now identified at extending over 1,000 metres of continuous mineralisation, and remains open

High grade results within the Northern Breccia continue to demonstrate the potential for

further high-grade mineralisation adjacent to the South East Crescent Zone

Extensive Growth Drilling programme planned across the next twelve months,
which provides substantial opportunity to expand Havieron

Greatland Gold plc (AIM:GGP), a mining development and exploration company with a focus on precious and base metals, is pleased to provide an exploration and development update at the Havieron gold-copper project in the Paterson region of Western Australia.

Highlights

  • Seven drill rigs currently onsite, all focused on growth targeting:
  • South East Crescent: continuous mineraliation identified across 1,000 vertical meters and remains open. Drilling continuing to progressively test for extensions to the South East Crescent, with drilling planned up to 400 metres below the Updated Mineral Resource1
  • Eastern Breccia: drilling continuing to define the greater mineralised footprint of the Eastern Breccia, including definition of higher-grade zones recently announced
  • Northern Breccia: drilling aimed at extending high-grade zones of mineralisation at depth
  • New Targets: drilling continuing to define geophysical targets outside of the main Havieron system with follow-up drilling planned at regional targets on the Havieron mining lease

New drilling results

  • Drilling in the South East Crescent has extended the high grade zone down a further 100 metres with Crescent zone having now been continuously intersected to over 1,000 vertical metres (3800m RL2) and remaining open at depth :
  • HAD133W9 returned 85.8m @ 3.0g/t Au & 0.06% Cu from 1,604m and 25.3m @ 1.1g/t Au & 0.08% Cu from 1,471.1m
  • High grade results in the Northern Breccia reinforce the potential for further high-grade sulphide mineralisation adjacent to the South East Crescent Zone:
  • HAD055W4 returned 149.9m @ 2.7 g/t Au & 0.12% Cu from 877.4m,
  • Including 13.9m @ 22.8 g/t Au & 0.46% Cu from 1,013.4m
  • HAD055W5 returned 39.6m @ 2.8 g/t Au & 0.07% Cu from 983.6m
  • Including 0.5m @ 96.0 g/t Au & 0.10% Cu from 1,020.7m
  • Early Works improvements: Construction activities by Newcrest are progressing including:
  • An exploration decline advance of 377.5 metres as at end of May 2022
  • Fuel facility fully commissioned

The decline experienced improved ground conditions in the June quarter. Advance rates have improved after c hanges in the design of the decline brought forward the first downward spiral to the current advance position. This has allowed the decline to transition into better ground conditions. The Havieron fuel facility has now been completed and commissioned into operation.

  • Feasibility Study work by Newcrest is progressing and k ey contracts have been awarded. The Feasibility Study is still forecast to be delivered in the December 2022 quarter3.

Shaun Day, Managing Director of Greatland Gold plc, commented: ” The growth drilling programme continues to expand Havieron’s mineralised system. The existing high grade mineralised zone of the South East Crescent now extends a further 100 metres below our previous Mineral Resource estimate. Testament to the scale of Havieron, there is now continuous mineralisation observed over 1,000 metres of vertical extent with the system remaining open at depth.

With an extensive growth drilling programme planned over the next twelve months, there is tremendous potential to further expand the Havieron resource and unlock the true scale and value of the broader system.

Pleasingly, the decline has encountered better ground conditions, resulting in recent improvements to the decline advancement rates.”

1 Refers to Greatland’s Updated Mineral Resource as announced on 3rd March 2022

2 Relative depth. All relative depth (RL) information is reported in Australian Height Datum ( AHD) +5,000 metres

3 Newcrest market update to Australian Stock Exchange on 12th October 2021

Some statements contained in this announcement are or may be forward-looking statements. Actual results may differ from those expressed in such statements, depending on a variety of factors

Significant New Results (intercepts are reported as downhole width not true width)

South East Crescent

  • HAD133W9
  • 25.3m @ 1.1g/t Au & 0.08% Cu from 1,471.1m,
  • 85.8m @ 3.0g/t Au & 0.06% Cu from 1,604m

Northern Breccia

  • HAD055W4
  • 149.9m @ 2.7 g/t Au & 0.12% Cu from 877.4m,
  • incl. 13.9m @ 22.8 g/t Au & 0.46% Cu from 1,013.4m
  • HAD055W5
  • 76.5m @ 1.1 g/t Au & 0.11% Cu from 892.5m,
  • incl. 11.4m @ 1.9 g/t Au & 0.12% Cu from 921m
  • 39.6m @ 2.8 g/t Au & 0.07% Cu from 983.6m,
  • incl. 0.5m @ 96.0 g/t Au & 0.10% Cu from 1,020.7m
  • HAD055W6
  • 43.2m @ 1.4 g/t Au & 0.08% Cu from 978.3m,
  • incl. 10.9m @ 2.3 g/t Au & 0.05% Cu from 978.3m

In addition to this release, a PDF version of this report with supplementary information can be found at the Company’s website: https://greatlandgold.com/investors/regulatory-news/

Enquiries:

Greatland Gold PLC

Shaun Day

+44 (0)20 3709 4900

info@greatlandgold.com

www.greatlandgold.com


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