Greatland Gold reports “outstanding” results from Havieron drilling programme

© Reuters.

By Samuel Indyk – Greatland Gold (LON:) has provided another update on its drilling campaign at the Havieron – project in the Paterson region, Western Australia, following the release of the Quarterly Exploration Report from its joint-venture partner Newcrest Mining  (ASX:) earlier today.

The latest results comprise 22 new drill holes from the Infill and Growth Drilling programme, plus 11 previously reported holes. The company said “significant” mineralisation was reported in 18 of the new holes.

The company said a new intercept returned 120.4m at a grade of 10g/t of gold at 0.66% of copper. The AIM-listed company added that the is the best gram metre intercept drilled to date at Havieron.

“The volume and quality of results at Havieron continue to impress as we observe increases in both grade and thickness at depth,” said Greatland Gold CEO Shaun Day. “This supports continuity of the high grade zonations and potential upgrades to the mineralisation. It speaks volumes for the tremendous quality of Havieron that after reaching a milestone of 200,000 metres of drilling, the best gram metre intercept ever drilled was just delivered, located at the high grade South East Crescent Zone.”

The company added that drilling activities since the last update include new results, which continue to support the potential for resource expansion of the Havieron project.

Looking forward, the company is targeting 90,000 metres of Growth Drilling to 30th June 2022.

“The ongoing success from each set of drill results confirm Havieron as a world class gold-copper project and its potential to expand further in scale,” Day added. “The Pre-feasibility study highlighted the low capex, low risk approach to developing Havieron, which puts this asset in a class of its own as we progress it forward and add further upside to its future economic outcomes.”

At 09:34BST, Greatland Gold shares were trading higher by 0.5% at 17.59 pence per share.

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