Excellent first drill results from Newcrest’s campaign at Greatland’s Havieron project confirm the presence of higher grade gold-copper mineralisation.
HAD006 extension: 52m @ 7.0 g/t Au and 0.17% Cu from 1122m
Including, 17m @ 21 g/t Au and 0.39% Cu from 1153m
HAD011: 39m @ 1.1 g/t Au and 0.82% Cu from 754m
and, 14m @ 2.9 g/t Au and 1.1% Cu from 779m
Mineralisation now observed over 700m of the vertical extent and remains open
Greatland Gold plc (AIM: GGP), the precious and base metals exploration and development company, is pleased to announce the first results from Newcrest’s drilling campaign at Greatland’s 100% owned Havieron licence in the Paterson region of Western Australia. In addition, Greatland is pleased to announce that a third rig has commenced operation at Havieron and a fourth rig is expected to arrive at the site in August.
Greatland notes the release of the June Quarterly Exploration Report by Newcrest Mining Ltd (“Newcrest”) today, in which Newcrest states: “First drill results from the Havieron Project in Paterson province Western Australia have confirmed the presence of higher-grade copper-gold mineralisation, with best results including 17 m @ 21 g/t Au and 0.39% Cu from 1153 m (HAD006 extension).”
Highlights of Results from Newcrest’s Drilling Campaign at Havieron:
· Results confirm high-grade gold-copper mineralisation, broaden mineralised extents defined by prior drilling and extend the depth of observed mineralisation at Havieron.
· Two rigs were operational with one existing drill hole extended (HAD006) and two new holes completed (HAD010 and HAD011) for a total of 2800m of drilling.
· HAD006: Newcrest extended Greatland’s hole HAD006 from 838m to 1216m, the deepest on the project to date, and successfully identified high-grade mineralisation at depth, with mineralisation now observed over 700m in vertical extent, assay results include:
o 12m @ 3.1 g/t Au and 0.08% Cu from 1071m
o 52m @ 7.0 g/t Au and 0.17% Cu from 1122m, including
§ 17m @ 21 g/t Au and 0.39% Cu from 1153m
· HAD011: Hole HAD011 extended the known mineralised breccia and confirmed that copper grades are increasing with depth, with local values up to 2.3% Cu, assays results include:
o 39m @ 1.1 g/t Au and 0.82% Cu from 754m, and
§ 14m @ 2.9 g/t Au and 1.1% Cu from 779m
o 48m @ 0.59 g/t Au and 0.90% Cu from 838m
· HAD010: Hole HAD010 traversed over the top of the mineralised zone in the cover sequence and did not intersect significant mineralisation.
Next steps for Havieron:
· Newcrest to expand its exploration campaign from two drill rigs to four – third drill rig has commenced operation and a fourth is scheduled to arrive at the site in August.
· Drill programme designed to:
o Further, define the extent of the upper gold zone;
o Test the depth extents of the mineralisation and associated magnetic anomaly; and
o Search for additional zones of mineralised breccia within the footprint of the coincident magnetic anomaly.
Gervaise Heddle, Chief Executive Officer of Greatland Gold plc, commented: “We are delighted by these excellent early results from Newcrest’s drilling campaign and by Newcrest’s acceleration of the exploration programme at Havieron as demonstrated by the commencement of a third rig at site and the imminent addition of a fourth.
“We are particularly pleased to see that the hole HAD006 extension, the deepest hole to date at Havieron, identified high-grade mineralisation at depth, which further supports our view that Havieron has the potential to become a large, underground mining operation in one of the most mining-friendly jurisdictions in the world.
“These results also reinforce our view regarding the prospectivity of the Paterson region and, more specifically, the potential for other magnetic anomalies in the region, such as the multiple targets recently identified at our Paterson Range East licence, to host tier-one gold-copper deposits.
“We look forward to providing further updates on Newcrest’s drilling campaign at Havieron and Greatland’s ongoing exploration activities across the Paterson.”
Background to Havieron and Farm-in Agreement with Newcrest
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 project in the Paterson region of Western Australia. Newcrest has the right to acquire up to a 70% interest in a 12-block area within E45/4701 that covers the Havieron target by spending up to US$65m.
Greatland’s Paterson project covers more than 385 square kilometres in the Paterson region of Western Australia and includes the Havieron licence, the Paterson Range East licence, and the Black Hills licence.
Limited historical drilling was conducted by Newcrest Mining Limited at Havieron during the 1990s and early 2000s where six holes were drilled, all of which intersected significant alteration and gold plus copper anomalism. Thick lower grade zones of gold and copper were intersected by Newcrest and gold grades within these peaked at 15.4g/t and copper to 2.5%.
Greatland’s drilling campaigns at Havieron have yielded excellent results to date, including*:
· HAD001: 121m @ 2.9g/t Au and 0.23% Cu from 497m.
· HAD003: 21m @ 3.8g/t Au and 0.44% Cu from 418m.
· HAD005: 103m @ 3.5g/t Au and 0.93% Cu from 459m and;
128m@ 7.4g/t Au and 0.54% Cu from 660m.
· HAD006: 54m @ 2.7g/t Au and 0.79% Cu from 471m and;
179.1m @ 1.4g/t Au and 0.47% Cu from 547.9m.
· HAD008: 67m @ 2.0g/t Au and 0.91% Cu from 426m.
*The above results have been recalculated by Newcrest using company-specific “data aggregation methods”. Length-weighted averages exceeding 1.0 g/t Au or 0.5% Cu for greater than or equal to 10m, with less than 1 m of consecutive internal dilution; and length-weighted averages exceeding 0.2 g/t Au for greater than or equal to 20m, with less than 10m of consecutive internal dilution. No top cuts are applied to intercept calculations.
Data aggregation methods adopted by Newcrest are industry standard practice for assessing mineralisation widths and their relationship to underground mining techniques.
A regional map showing the Havieron licence area with regional targets and adjacent landholdings can be found at: www.greatlandgold.com/paterson/
The full Newcrest Quarterly Exploration Report can be viewed on Newcrest’s website at: www.newcrest.com.au/investors/reports/quarterly/
Newcrest Drilling at Havieron
First drill results from the Havieron Project in Paterson province Western Australia have confirmed the presence of higher-grade copper-gold mineralisation, with best results including 17m @ 21 g/t Au and 0.39% Cu from 1153m (HAD006 extension).
The Havieron Project is operated by Newcrest under a farm-in agreement with Greatland. It is centred on a deep magnetic anomaly located 45km east of Telfer. The target is overlain by more than 400m of post mineralised cover. Newcrest commenced drilling during the June 2019 quarter. Two rigs were operational with one existing drill hole, HAD006 extended and two new holes, HAD010 and HAD011, completed for a total of 2800m of drilling. A third rig has since commenced operation at the site.
Newcrest extended Greatland’s hole HAD006 from 838m to 1,216m. Hole HAD006, the deepest on the project to date, has successfully identified high-grade mineralisation at depth, with mineralisation now observed over 700m in vertical extent, and remaining open at depth, to the north and south. Assay results returned include:
· HAD006 (extension): 23m @ 1.0 g/t Au and 0.19% Cu from 872m
12m @ 3.1 g/t Au and 0.08% Cu from 1071m
52m @ 7.0 g/t Au and 0.17% Cu from 1122m
incl 17m @ 21 g/t Au and 0.39% Cu from 1153m
Hole HAD010 was drilled to the southeast of the main complex and did not intersect any significant mineralisation. Drilling has traversed over the top of the mineralised zone in the cover sequence.
In Newcrest hole HAD011, sulfide-bearing breccia was observed over 100m laterally at -500mRL on either side of the central post-mineral dolerite dyke. Assays results from the zones included:
· HAD011: 39m @ 1.1g/t Au and 0.82% Cu from 754m
48m @ 0.59g/t Au and 0.90% Cu from 838m
Hole HAD011 extended the known mineralised breccia and confirmed that copper grades are increasing with depth, with local values up to 2.3% Cu. Higher-grade gold mineralisation was observed in these zones, with the highest value being 1m at 13g/t Au.
Additional drill hole information is presented in Appendix I and tabulated drill hole intercepts are presented in Appendix II. Drill hole collar locations and a cross-section can be found on the Company’s website at: www.greatlandgold.com/paterson/
Following are the drill results previously completed by Greatland which have now been aligned with Newcrest exploration reporting standards:
· HAD001: 121m @ 2.9g/t Au and 0.23% Cu from 497m
· HAD003: 21m @ 3.8g/t Au and 0.44% Cu from 418m
· HAD005: 103m @ 3.5g/t Au and 0.93% Cu from 459m
128m @ 7.4g/t Au and 0.54% Cu from 660m
· HAD006: 54m @ 2.7g/t Au and 0.79% Cu from 471m
179.1m @ 1.4 g/t Au and 0.47% Cu from 547.9m
· HAD008: 67m @ 2.0g/t Au and 0.91% Cu from 426m
Future drilling programs will continue to assess the distribution and controls of higher grade gold and copper mineralisation intersected to date.
Competent Person:
Information in this announcement that relates to Havieron exploration results has been extracted from the following announcement:
“Newcrest Quarterly Exploration Report – June 2019”, dated 25 July 2019
Information in this announcement, which has been taken from Newcrest Mining Limited’s Quarterly Exploration Report dated 25 July 2019, has been reviewed and approved by Mr Mick Sawyer, a member of the Australian Institute of Geoscientists and a Registered Professional Geoscientist (R.P.Geo #10194), who has more than 15 years relevant industry experience. Mr Sawyer consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears. The company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcement. The company confirms that the form and context in which the information has been presented has not been materially modified. Mr Mick Sawyer, full time employee of Greatland Pty Ltd and Exploration Manager, has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person in accordance with the guidance note for Mining, Oil & Gas Companies issued by the London Stock Exchange in respect of AIM Companies, which outlines standards of disclosure for mineral projects.
