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Greatland Gold PLC (GGP.L) Newcrest Reports Further Drilling Results at Havieron

Further excellent infill and growth drilling results improve continuity of mineralisation and highlight the opportunity to expand footprint of mineralisation at Havieron

Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, is pleased to provide an update on Newcrest’s drilling campaign at Greatland’s Havieron deposit in the Paterson region of Western Australia. The Company notes the release of an ASX announcement titled ” Exploration Update” by Newcrest Mining Ltd (“Newcrest”) earlier today.

At Havieron, exploration activities have focused on an infill drilling programme to support the estimation of an initial Inferred Mineral Resource1, separately announced today, together with step out drilling to define the extents and growth potential of the Havieron mineralised system. Drilling since May 2019 has outlined an ovoid shaped zone of variable brecciation, alteration and sulphide mineralisation with dimensions of 650m x 350m x 1000m deep, trending in a north west orientation. Breccia mineralisation was initially identified internal to the Crescent sulphide zone but most recently has also been recognised external to the Crescent sulphide zone on the east, north-west and south-east.

At this stage, exploration has identified four key target regions, which are:

· South East Crescent and Breccia

· North West Crescent

· Northern Breccia

· Eastern Breccia

1 Refer to Newcrest announcement titled “Newcrest announces initial Inferred Mineral Resource estimate for Havieron of 3.4Moz of gold and 160Kt of Copper” dated 10 December 2020 and available on www.asx.com.au under the code “NCM”.

Highlights

· Further excellent drilling results: Latest drilling results further improve the continuity of mineralisation and highlight the potential to expand mineralisation footprint at Havieron.

· South East Crescent and Breccia: Latest drill results improve the continuity of higher-grade mineralisation within the South East Crescent and Breccia. Mineralisation is open at depth below the Inferred Mineral Resource shell providing support for potential expansion at depth. Selected results include2:

· HAD056W1: 205.8m @ 1.2g/t Au & 0.24% Cu from 598m, including

· 31.8m @ 3.1g/t Au & 0.38% Cu from 722m

· HAD057W4: 100m @ 2.1g/t Au & 0.05% Cu from 1029m, including

· 19.3m @ 6.2g/t Au & 0.07% Cu from 1089.3m

· HAD097W2: 119.2m @ 2.7g/t Au & 0.40% Cu from 937.8m, including

· 2.8m @ 65g/t Au and 0.46% Cu from 1010.6m

· Northern Breccia: Results continue to support continuity of mineralisation and demonstrate opportunity to further expand the mineralisation footprint in the Northern Breccia region. Selected results include:

· HAD101: 92.5m @ 1.9g/t Au & 0.06% Cu from 1296m, including

· 15.6m @ 4.8g/t Au & 0.02% Cu from 1350m

· HAD103: 90.6m @ 2.3g/t Au & 0.18% Cu from 776.4m, including

· 2.4m @ 67g/t Au and 0.33% Cu from 822.7m

· HAD105: 298.8m @ 1.2g/t Au & 0.11% Cu from 801.6m, including

· 15.8m @ 3.5g/t Au & 0.22% Cu from 821m

2 All widths are downhole widths, generally greater than true widths.

Next Steps

· 2021 Growth Drilling: Growth drilling programme in calendar year 2021 will focus on the extension and definition of the South Eastern Crescent and Breccia, North West Crescent, Northern Breccia and Eastern Breccia zones outside the current Inferred Resource.

· Infill Drilling Programme: Infill drilling is underway on the top 350 vertical metres of the South Eastern Crescent within the existing resource outline with the aim to define Indicated resources to underpin the proposed Pre-Feasibility Study.

· Early Works Commencement: New camp at Havieron, with accommodation for up to 230 people, is nearly complete, and construction of box cut and decline is expected to commence late 2020 or early 2021, subject to receipt of required approvals.

· Pre-Feasibility Study: A Pre-Feasibility Study for Havieron, based on an Indicated Mineral Resource Estimate, is expected is to be delivered by late 2021.

· Potential Commercial Production: Continuing to investigate potential to achieve commercial production within two to three years from commencement of decline.

Gervaise Heddle, Chief Executive Officer of Greatland Gold plc, commented: “We are very pleased by the latest set of excellent drilling results at Havieron , which further demonstrate the potential to expand the footprint of mineralisation at Havieron. We look forward to the growth drilling programme in 2021 and working to establish a full picture of Havieron’s potential right across the four exploration target areas.”


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