Greatland Gold PLC (GGP.L) Havieron Exploration and Development Update

Havieron continues to improve with the best gram-metre intercept to date at 120.4m @ 10.0g/t Au & 0.66% Cu (HAD117W6)

Growth Drilling beneath the existing South-East Crescent Resource demonstrates increasing grade and thickness with the high grade mineralisation extended 250m

Multiple tremendous high grade intercepts support the potential for resource expansion across all zones and include:

  • South East Crescent: 44.7m @ 7.1g/t Au & 0.17% Cu (HAD86W3)
  • Northern Breccia: 72.3m @1.4g/t Au & 0.07% Cu (HAD147W2)
  • Eastern Breccia 43.3m @2.7g/t Au & 0.06% Cu (HAD084W2)

Greatland Gold plc (AIM:GGP), a leading mining development and exploration company with a focus on precious and base metals, is pleased to provide an update on the drilling campaign 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” by Newcrest Mining Ltd (“Newcrest”) earlier today.

The latest results comprise 22 new drill holes from the Infill and Growth Drilling programmes plus 11 holes previously reported. Significant mineralisation was reported in 18 of the new holes. The Havieron joint venture has now completed a total of 210,629 of drilling from 254 holes, with all the latest completed holes continuing to intersect mineralisation, and all but one reporting significant mineralisation. A further 24 drill holes have been completed, awaiting assay.

Drilling activities since the last update include new results, which continue to support the potential for resource expansion of the Havieron gold-copper project. With 90,000 meters of Growth Drilling targeted to 30 June 2022.

Highlights

  • Results received from infill drilling support the modelled grade and thickness within the South East Crescent Zone Mineral Resource extents .
  • The results support the continuity of the high grade Crescent Zone, and in some places appear to upgrade the zone
  • HAD117W6 returned 120.4m @ 10g/t Au & 0.66% Cu from 764.6m. This is the best gram metre intercept drilled to date at Havieron (Au_ppm x intercept length of 1,204 gram metres Au).
  • Further significant results from Growth Drilling continue to demonstrate the potential for resource additions outside of the existing Inferred Mineral Resource limits, including:
  • Extension of the SE Crescent Zone below the current Mineral Resource, where increasing grade and thickness of mineralisation has been observed from recent drilling
  • Expansion of multiple higher-grade targets including Northern Breccia and NW Pod
  • Potential for additional NW trending corridors including the Eastern Breccia
  • Growth Drilling programme continues into FY22 , targeting:
  • North West Crescent and Northern Breccia: Zone of initial focus aimed at providing support for the potential expansion of the existing Inferred Mineral Resource.
  • Eastern Breccia: Drill testing and interpretation of the geological and mineralisation controls is ongoing.
  • South East Crescent and Breccia: Targeting potential resource definition of extensions below the existing resource shell and lateral extensions adjacent to the existing high-grade resource shell.
  • New Targets: Identified outside of the immediate vicinity of the Havieron deposit, but within the Havieron Joint Venture area, with the potential to conduct drill testing of these targets in the future.
  • Early Works advancing: Construction activities are progressing well with achievements including (as of 20 October 2021):
  • Box cut and portal completed in May 2021 as at 20 October 2021
  • Exploration decline has advanced 211 metres
  • Decline contractor operating 24-hour per day
  • Planning has commenced for the first ventilation shaft, scheduled to begin during the next quarter.
  • Works to progress the necessary approvals and permits required to commence the development of an operating underground mine and associated infrastructure at the Havieron Project are ongoing
  • Feasibility Study progressing: Feasibility study work by Newcrest continuing along with concurrent studies assessing boarder growth options for Havieron. Significant upside opportunitie s are being evaluated to increase the scale and life of Havieron, as well as presenting the opportunity to adopt alternative, lower cost, mining methods. The Feasibility Study still forecasted to be delivered December quarter 2022.

Shaun Day, Chief Executive Officer of Greatland Gold plc, commented: ” The volume and quality of results at Havieron continue to impress as we observe increases in both grade and thickness at depth. This supports continuity of the high grade zonations and potential upgrades to the mineralisation. It speaks volumes for the tremendous quality of Havieron that after reaching a milestone of 200,000 metres of drilling, the best gram metre intercept ever drilled was just delivered, located at the high grade South East Crescent Zone.

The results of the 90,000 metres Growth Drilling programme continue to extend mineralisation across multiple zones across Havieron. These outstanding results expand the high-grade South East Crescent Zone and add further scale to the Havieron deposit in multiple directions including within the Northern Breccia and in the Eastern Breccia .

The ongoing success from each set of drill results confirm Havieron as a world class gold-copper project and its potential to expand further in scale. The Pre-feasibility study highlighted the low capex, low risk approach to developing Havieron, which puts this asset in a class of its own as we progress it forward and add further upside to its future economic outcome s . ”

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

Further Information on Drilling and Operations at Havieron

Read More

In addition to this release, a PDF version of this report with supplementary information can be found at the Company’s website: www.greatlandgold.com/media/jorc/

Enquiries:

Greatland Gold PLC

Shaun Day

+44 (0)20 3709 4900

info@greatlandgold.com

www.greatlandgold.com


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