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

New high grade mineralised intercepts identified in Northern Breccia and between the South East Crescent and the Eastern Breccia increasing the potential for these two zones to link

Work programme continues with the decline development increasing rates of advancement

Havieron Feasibility Study extended allowing time to maximise value and de-risk the project, whilst decline development continues to advance to first ore

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 announcements titled “Quarterly Exploration Report” and “Quarterly Report” by Newcrest Mining Ltd (“Newcrest”) earlier today which included results previously released in Greatland’s announcement of 8 September 2022 as well as the following new results.

Expanded high grade mineralisation

§ Potential for further resource growth as drilling continues to identify and expand the high-grade extensions to the mineralisation in the Eastern Breccia, South East Crescent Zone and Northern Breccia

§ Exploration drilling is underway to test regional geophysical targets outside of the main Havieron system on the Havieron mining lease

§ Six drill rigs presently on site

Accelerated decline development

§ Development of exploration decline with 916 metres complete as at 12 October 2022

§ Record, daily average rates of advancement were recently achieved reflecting the transition to drill and blasting of the development face in advancing the exploration decline

Feasibility Study Update

§ Technical work to support the development of the Feasibility Study continued during the quarter. While the study remains in progress, it will be extended beyond the December 2022 quarter to allow further time to maximise value and de-risk the project. A further update will be provided as value enhancing options are assessed

§ The extended study will seek to de-risk the project by capturing the ongoing successful growth drilling campaign and allow potential resource conversion to increase production potential and mine life of Havieron

§ Further optimisation work is underway as part of the Feasibility Study which will contribute to offsetting any potential impact of inflation

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

Northern Breccia

§ HAD098W5

§ 81.3m @ 3.2g/t Au & 0.29% Cu from 1,357.2m

§ including 53.3m @ 3.5g/t Au & 0.30% Cu from 1,360.5m

§ HAD086W6

§ 12.9m @ 3.5g/t Au & 0.49% Cu from 1,356.1m

§ 20.7m @ 4.4g/t Au & 0.10% Cu from 1,380.3m

Eastern Breccia

§ HAD145AW5

§ 11.3m @ 2.4g/t Au & 0.53% Cu from 1,686m

§ 38m @ 1.9g/t Au & 0.17% Cu from 2,038m

§ including 23m @ 2.5g/t Au & 0.16% Cu from 2,053m

Shaun Day, Managing Director of Greatland Gold plc, commented: ” The growth drilling programme at Havieron continues to deliver outstanding results as high-grade extensions to the mineralisation are identified across the expanse of the ore body.

“New intersections between the South East Crescent and the Eastern Breccia increases the potential for a continuous high grade mineralised zone linking these two previously separate areas.

“It is particularly pleasing to observe the acceleration in the advancement of the decline, which provides increasing confidence of the project being delivered on schedule.

“The Havieron Feasibility Study will be extended with a view to maximise value and further de-risking the project as our understanding of the Havieron ore body continues to evolve.

“The ongoing drilling programme and advancement of the decline are complemented by Greatland’s strengthened balance sheet position and augmented expertise within our board of directors .”

In addition to this release, a PDF version of this report with supplementary information can be found at the Company’s website:


Greatland Gold PLC

Shaun Day

[email protected]

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