Greatland Gold PLC (LON:GGP) Update on Newcrest Drilling Results at Havieron

Gervaise Heddle, Chief Executive Officer of Greatland Gold plc, commented: “We are delighted by these excellent results and by Newcrest’s ongoing commitment to the exploration programme at Havieron.

These results have defined a series of higher-grade zones within a broad envelope of mineralisation and provide further support to our view that Havieron has the potential to become a truly significant, underground mining operation in one of the most mining-friendly jurisdictions in the world.

 

 

http://www.newcrest.com.au/media/market_releases/2019/Newcrest_Market_Release_Exploration_Update_-_Havieron_2019.pdf

 

Summary

· Further excellent drill results from Newcrest’s campaign at Greatland’s Havieron project define a series of higher-grade zones within a broad envelope of mineralisation and extend mineralisation to the north by an additional 100 metres with the system remaining open.

· Each of drill holes HAD012, HAD013 and HAD014 intersected significant widths of mineralisation (in excess of 100m at better than 2g/t gold) and higher-grade zones within those intersections, including an interval of 43m @ 7.9g/t Au, 0.83% Cu from 900m in HAD012.

· Newcrest will complete Phase 1 drilling in September and commence Phase 2 of the Havieron exploration programme which includes plans to significantly increase the amount of both step out and infill drilling.

Greatland Gold plc (AIM: GGP), the precious and base metals exploration and development company, is pleased to announce further excellent results from Newcrest’s drilling campaign at Greatland’s 100% owned Havieron licence in the Paterson region of Western Australia.

Greatland notes the release of an ASX announcement titled “Exploration Update – Havieron” by Newcrest Mining Ltd (“Newcrest”) earlier today which highlights “Further high grade drill results at the Havieron Project”.

Four drill rigs are currently operational, and six holes have been completed to date (HAD006 extension, HAD010-014) for a total of 6,166m of drilling. Final assay results have been received for HAD011, HAD012, HAD013 and HAD014 and are announced today.

Highlights of Drill Results:

· HAD012: Hole HAD012 intersected mineralisation approximately 100 metres north of HAD005, assay results include:

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o 139.4m @ 2.9g/t Au, 0.39% Cu from 865.7m, including

§ 43m @ 7.9g/t Au, 0.83% Cu from 900m

o 27m @ 0.99g/t Au, 0.10% Cu from 1,056m, including

§ 10m @ 2.5g/t Au, 0.20% Cu from 1,056m

· HAD013: Hole HAD013 intersected mineralisation approximately 50 metres north of HAD005 and extended the known mineralisation to the west, assays results include:

o 100.9m @ 2.0g/t Au, 0.48% Cu from 479m, including

§ 36m @ 4.1g/t Au, 0.84% Cu from 481m

o 162.3m @ 0.89g/t Au, 0.17% Cu from 712m, including

§ 10.2m @ 2.5g/t Au, 0.69% Cu from 725.7m, and

§ 15.3m @ 2.2g/t Au, 0.17% Cu from 855m

o 146.1m @ 0.93g/t Au, 0.10% Cu from 917.9m

· HAD014: Hole HAD014 intersected mineralisation to the west of and below hole HAD005, assays results include:

o 244.6m @ 2.0g/t Au, 0.40% Cu from 450m, including

§ 29.3m @ 4.0g/t Au, 0.86% Cu from 465m, and

§ 22.4m @ 4.3g/t Au and 0.82% Cu from 557m

o 75.3m @ 3.4g/t Au, 0.43% Cu from 816.6m, including

§ 13.2m @ 16g/t Au and 0.93% Cu from 859.3m

· HAD011: There were no significant intersections from 903.8m to end of hole. All significant intersections in the upper zone to 903.8m were previously reported in the announcement released by the Company on 25 July 2019.

· A further five holes are at various stages of progress (HAD015-019) and assay results are awaited.

Next steps for Havieron:

· Phase 2 drilling programme initiated, which includes plans for a significant increase in the amount of both step out and infill drilling.

· A fifth drill rig is expected to commence operation in September 2019.

· The Havieron camp is currently being upgraded to provide additional facilities and Telfer continues to provide support to the project.

· Newcrest’s minimum expenditure commitment (USD $5 million) expected to be met this month.

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Gervaise Heddle, Chief Executive Officer of Greatland Gold plc, commented: “We are delighted by these excellent results and by Newcrest’s ongoing commitment to the exploration programme at Havieron. These results have defined a series of higher-grade zones within a broad envelope of mineralisation and provide further support to our view that Havieron has the potential to become a truly significant, underground mining operation in one of the most mining-friendly jurisdictions in the world.

“From a technical perspective, there are a number of positives contained within these results that I would highlight. First, each of drill holes HAD012, HAD013 and HAD014 intersected significant widths of mineralisation (in excess of 100m at better than 2g/t gold) and higher-grade zones within those intersections, including an interval of 43m @ 7.9g/t Au, 0.83% Cu from 900m in HAD012. Second, each of the three drill holes above extended the known mineralised envelope of the system, primarily to the north and the west. Third, these results establish a new peak gold grade for the system of 324.9g/t gold (in excess of 10 ounces of gold per tonne).

“We are very pleased that Newcrest has successfully advanced Phase 1 and is now initiating Phase 2 of their Havieron exploration programme which includes plans for a significant increase in the amount of drilling. We look forward to providing further updates on Newcrest’s drilling campaign at Havieron and Greatland’s ongoing exploration activities across the Paterson.”

 


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