Extensive Growth Drilling programme continues to identify high-grade mineralised extensions in the Eastern Breccia, South-East Crescent Zone and Northern Breccia
New high-grade intercepts outside the Eastern Breccia Mineral Resource support its potential to host multiple northwest trending high-grade sulphide dominated domains
High-grade results in the Northern Breccia demonstrate the potential for
further high-grade sulphide mineralisation outside the South-East Crescent Zone
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. The Company notes the release of an ASX announcement titled “Quarterly Exploration Report” and “Quarterly Report” by Newcrest Mining Ltd (“Newcrest”) earlier today that included results previously released in Greatland’s announcement of 9 June 2022 along with the following new results.
Highlights
§ Seven drill rigs currently on site, all focused on growth targeting:
§ Eastern Breccia: drilling continuing to expand the mineralised footprint of the Eastern Breccia, including further defining higher-grade zones
§ South-East Crescent: continuous mineralisation 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
§ Northern Breccia: drilling aimed at extending high-grade zones of mineralisation at depth
§ New Targets: drilling continuing to test geophysical targets outside of the main Havieron system, with follow-up drilling planned at regional targets on the Havieron mining lease
New drilling results
§ Eastern Breccia drilling further highlights the geological continuity of higher grade mineralisation. Recent intercepts reinforce the potential for the Eastern Breccia corridor to host Crescent style high grade mineralisation. The Eastern Breccia remains open at depth:
§ HAD145AW4 returned 54m @ 3.8g/t Au & 0.02% Cu from 1,854m including 19.6m @ 9.9g/t Au & 0.02% Cu from 1,854m
§ HAD141W2^ returned 39m @ 2.9g/t Au & 0.15% Cu from 1,824.6m including 13.8m @ 7.8g/t Au & 0.15% Cu from 1,849.8m
§ HAD152W1 returned 82.3m @ 1.7g/t Au & 0.96% Cu from 1,829.2m including 15.9m @ 1.9g/t Au & 1.6% Cu from 1,853.1m
§ HAD104W2 returned 51m @ 1.1g/t Au & 0.07% Cu from 1,496m
§ South-East Crescent drilling 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:
§ HAD108AW1 returned 93.3m @ 3.6g/t Au & 0.11% Cu from 599.7m including 12.4m @ 10.0g/t & 0.38% Cu.
§ HAD153 returned 44.9m @ 2.5g/t Au & 0.14% Cu from 1,577.1m including 25m @ 4.1g/t Au & 0.09% Cu from 1,585m
§ Northern Breccia intersected high grade results to demonstrate the potential for further high grade sulphide mineralisation outside the South-East Crescent Zone:
§ HAD055W7 intersected 70.9m @ 2.0g/t Au & 0.11% Cu from 973.8m including 1.4m @ 45.0g/t Au & 0.21% Cu from 1,043.3m
§ HAD055W9 intersected 89.0m @ 0.86g/t Au & 0.16% Cu from 835m including 10m @ 1.7g/t Au & 0.37% Cu from 873m
§ Early Works improvements: Construction activities are progressing including:
§ An exploration decline advance of 489 metres as at 13 July 2022
§ 111.5 metres advanced since the last report on 9 June 2022 reflecting the highest daily advancement rate during a single reporting period since commencement of the exploration decline
§ The infrastructure construction programme to support the early works decline progression is largely complete. Establishment of the site administration facilities, supporting mine and water management infrastructure has been successfully completed
Poor ground conditions were experienced during the previous quarter, changes in the design of the decline during the quarter brought forward the first downward spiral to the current advance position which has allowed the decline to transition into better ground conditions as forecasted, which accelerated decline advancement rates.
Works are ongoing to progress the necessary approvals and permits required to commence construction of the infrastructure which will support production at Havieron. Newcrest is reviewing the impact of inflationary pressures on future capital expenditure and operating costs as part of the Feasibility Study, with value engineering and other cost mitigation strategies underway.
Feasibility Study The schedule for first ore continues to be reviewed and will be updated with the release of the Feasibility Study, which remains on track for completion during the December 2022 quarter3.
Shaun Day, Managing Director of Greatland Gold plc, commented: “Havieron’s extensive growth drilling program continues to identify and expand high grade extensions to the mineralisation in the Eastern Breccia, South-East Crescent Zone and Northern Breccia.
“Eastern Breccia growth drilling continues to expand and define the mineralised footprint and extensions of the zonation. This Eastern Breccia drilling includes a new northern-most high grade intercept. The observed grade from this drilling reinforces the potential for the Eastern Breccia corridor to host Crescent style high grade mineralisation.
“With seven drill rigs all focusing on growth this demonstrates the ongoing potential for the continued expansion of the Havieron system footprint below and adjacent to the existing resource.
The observed acceleration of the decline advancement is particularly pleasing. The improved advancement productivity is consistent with the expected improvement of ground conditions with depth.”
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
Significant New Results (intercepts are reported as downhole width not true width)
Eastern Breccia
§ HAD104W2
§ 51m @ 1.1g/t Au & 0.07% Cu from 1,496m
§ HAD141W2^
§ 39m @ 2.8g/t Au & 0.15% Cu from 1,824.6m
§ including 13.8m @ 7.6g/t Au & 0.15% Cu from 1,849.8m
§ HAD145AW4
§ 54m @ 3.8g/t Au & 0.02% Cu from 1,854m
§ including 19.6m @ 9.9g/t Au & 0.02% Cu from 1,854m
§ HAD152W1
§ 82.3m @ 1.7g/t Au & 0.96% Cu from 1,829.2m
§ including 15.9m @ 1.9g/t Au & 1.6% Cu from 1,853.1m.
South-East Crescent
§ HAD108AW1
§ 93.3m @ 3.6g/t Au & 0.11% Cu from 599.7m
§ including 12.4m @ 10.0g/t & 0.38% Cu.
§ HAD153
§ 44.9m @ 2.5g/t Au & 0.14% Cu from 1,577.1m
§ including 25m @ 4.1g/t Au & 0.09% Cu from 1,585m.
Northern Breccia
§ HAD055W7
§ 70.9m @ 2.0g/t Au & 0.11% Cu from 973.8m
§ including 1.4m @ 45.0g/t Au & 0.21% Cu from 1,043.3m
§ HAD055W9
§ 89.0m @ 0.86g/t Au & 0.16% Cu from 835m
§ including 10m @ 1.7g/t Au & 0.37% Cu from 873m
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
