Gervaise Heddle, Chief Executive Officer of Greatland Gold plc, commented: “We are delighted by this sixth consecutive set of excellent results from Newcrest’s drilling campaign, which continue to demonstrate the continuity of high-grade mineralisation and expand the mineralised footprint.
These latest results represent one of the best sets of drilling results at Havieron since Newcrest began its exploration campaign and reinforce the potential to accelerate the timetable for commercial production.
“As we enter the Australian exploration season, Newcrest continues to drill Havieron at pace and will shortly complete Stage 2 of the Farm-in. Meanwhile, we are planning to be very active with our own systematic exploration campaign across the Paterson, which will focus on drill testing many of the high-priority targets we identified last year.”
Stage 2 of Farm-in expected to be completed by end of March 2020
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 100% owned Havieron deposit in the Paterson region of Western Australia.
Greatland notes the release of an ASX announcement titled “Exploration and Guidance Update” by Newcrest Mining Ltd (“Newcrest”) earlier today.
· Drilling at Havieron continues to expand and demonstrate the continuity of high-grade mineralisation, which now extends over a strike length of 450m, to vertical depths of 600m and remains open at depth and to the northwest.
· Results to date support potential for both high-grade selective and bulk mining methods, which are currently being evaluated.
Best new results:
· HAD022: 142 m @ 1.9g/t Au, 0.38% Cu from 534m, including
· 15.7m @ 9.8g/t Au, 0.61% Cu from 572.3m
· HAD042: 124m @ 3.9g/t Au, 0.21% Cu from 734m, including
· 17.3m @ 19g/t Au, 0.62% Cu from 790.7m
· HAD044: 83.3m @ 5.0g/t Au, 1.1% Cu from 489.5m
· HAD049: 82m @ 6.1g/t Au, 0.41% Cu from 461m
· Drilling activity continues to ramp up (eight rigs now operational) with the aim of delivering a maiden resource in the second half of calendar year 2020.
· Greatland expects Newcrest to complete Stage 2 of Farm-in by end of March 2020.
· A number of environmental, geotechnical and metallurgical studies are continuing in order to support a potential mineral resource estimate, and future permitting requirements.
· Newcrest is investigating the potential to start an exploration decline at Havieron by end of calendar year 2020 or early 2021, and the potential to achieve commercial production within 2-3 years from commencement of decline.
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/
Full update link www.share-talk.co.uk/announcements/rns/
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