Further to the announcement “Mining Lease Granted at Havieron” dated 10 September 2020, Greatland Gold plc (AIM:GGP).
The precious and base metals exploration and development company, is pleased to announce that Newcrest and Greatland have received the necessary regulatory approvals to commence key early works activities at the Havieron Project for a box cut and exploration decline.
The approvals also permit the construction of supporting surface infrastructure, including evaporation ponds, an explosives magazine, maintenance workshops, fuel facilities, an administration building and a laydown area.
Further approvals and permits are required to commence the development of any operating underground mine and associated infrastructure at the Havieron Project.
In addition, the development of any underground mine at the Havieron Project will also be subject to further studies, Board approvals and a positive decision to mine.
Notes for Editors:
Greatland Gold plc is a London Stock Exchange AIM-listed (AIM:GGP) natural resource exploration and development company with a current focus on precious and base metals. The Company has six main projects; four situated in Western Australia and two in Tasmania.
In March 2019, Greatland signed a Farm-in Agreement with Newcrest Operations Limited, a wholly-owned subsidiary of Newcrest Mining Limited (ASX:NCM), to explore and develop Greatland’s Havieron gold-copper deposit in the Paterson region of Western Australia. The Havieron Project is operated by Newcrest under a Joint Venture Agreement with Greatland Gold plc. Newcrest can earn up to a 70% joint venture interest through total expenditure of US$65 million and the completion of a series of exploration and development milestones in a four-stage farm-in over a six year period that commenced in March 2019. Newcrest may acquire an additional 5% interest at the end of the farm-in period at fair market value.
The Joint Venture Agreement includes tolling principles reflecting the intention of the parties that, subject to a successful exploration program and feasibility study and a positive decision to mine, the resulting joint venture mineralised material will be processed at Telfer, located 45km west of Havieron.
Greatland is seeking to identify large mineral deposits in areas that have not been subject to extensive exploration previously. It is widely recognised that the next generation of large deposits will come from such under-explored areas and Greatland is applying advanced exploration techniques to investigate a number of carefully selected targets within its focused licence portfolio.
The Company is also actively investigating a range of new opportunities in precious and strategic metals and will update the market on new opportunities as and when appropriate.
