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Greatland Gold PLC - Update on Newcrest’s Activities at Havieron

RNS Number : 8770D
Greatland Gold PLC
24 February 2020
 

24 February 2020

 

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

Greatland Gold plc

("Greatland" or "the Company")

 

Update on Newcrest's Activities at Havieron

 

Greatland Gold plc (LON:GGP), the London Stock Exchange AIM listed precious and base metals exploration and development business, notes the release of a presentation by Newcrest Mining Limited ("Newcrest") to be given by the Managing Director and Chief Executive Officer of Newcrest, Sandeep Biswas, at the Bank of Montreal Global Metals and Mining Conference on 24 February 2020.

 

The presentation provides an update on Newcrest's progress at Havieron and further details on studies currently underway.

 

Highlights

 

·   8 drill rigs in operation at Havieron, up from 6 rigs previously.

·   Newcrest investigating the potential to start an exploration decline at Havieron by end of calendar year 2020.

·   Studying both a stoping operation and the potential for a bulk underground mine.

·  Investigating potential to achieve commercial production within approximately 2-3 years from commencement of decline.

 

Greatland notes that studies being performed by Newcrest are subject to all necessary permits, regulatory requirements and Newcrest Board approval and further works.

 

Gervaise Heddle, Chief Executive Officer of Greatland Gold plc, commented: "It is a very exciting time at Havieron as drilling accelerates to define the potential scale of the deposit and preliminary work begins to determine potential mining methods. We are very pleased by Newcrest's ongoing commitment and look forward to providing further updates on progress at Havieron."

 

The Newcrest presentation can be found at:

https://www.asx.com.au/asxpdf/20200224/pdf/44fd6s54d3hsdd.pdf

 

 

Enquiries:

 

Greatland Gold PLC

Gervaise Heddle/Callum Baxter

Tel: +44 (0)20 3709 4900

Email:  [email protected]

www.greatlandgold.com

 

SPARK Advisory Partners Limited (Nominated Adviser)

Andrew Emmott/James Keeshan

Tel: +44 (0)20 3368 3550

 

SI Capital Limited (Joint Broker)

Nick Emerson/Alan Gunn

Tel:  +44 (0)14 8341 3500

 

Numis Securities Limited (Joint Broker)

John Prior/Paul Gillam/Alamgir Ahmed

Tel: +44 (0)20 7260 1000

 

Luther Pendragon (Media and Investor Relations)

Harry Chathli/Alexis Gore/Joe Quinlan

Tel: +44 (0)20 7618 9100

 

 

Notes for Editors:

 

Greatland Gold plc is a London Stock Exchange AIM-listed (AIM:GGP) natural resource exploration and development company with a current focus on gold, copper and nickel exploration projects.

 

The Company has six main projects; four situated in Western Australia and two in Tasmania.  All projects are 100% owned by Greatland.

 

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 earn up to a 70% interest in a 12-block area within E45/4701 that covers the Havieron target by spending up to US$65 million.

 

Greatland is seeking to identify large mineral deposits in areas that have not been subject to extensive exploration previously. It is widely recognised that the next generation of large deposits will come from such under-explored areas and Greatland is applying advanced exploration techniques to investigate a number of carefully selected targets within its focused licence portfolio.

 

The Company is also actively investigating a range of new opportunities in precious and strategic metals and will update the market on new opportunities as and when appropriate.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Price: 4.425

Market: AIM
Market Cap: £161.61 m
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