Greatland Gold announces 4.2mln oz maiden resource for Havieron prospect
Greatland added that mineralisation remains open within four other target regions
Company
LON:GGP
Greatland Resources is a new leading Australian gold and copper producer, operating the Telfer gold mine, one of Australia’s largest gold-copper mining complexes. The company is concurrently developing the nearby world-class Havieron gold-copper project and exploring across a significant regional portfolio.
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Greatland added that mineralisation remains open within four other target regions
Gervaise Heddle, chief executive officer of Greatland Gold commented: "These new agreements with Newcrest represent a landmark moment for Greatland Gold, both in structuring the next stage in Havieron's development and progressing our explo
“A series of excellent drill results to date from Havieron have continued to extend the footprint of mineralisation," chairman Alex Borrelli said in the group's final results statement
Hole HAD065W2, South East Crescent Zone found 120.7m at 9.3 grams per ton (g/t) gold (AU) and 0.18% copper (CU) from 1,349.3m, including 26.6m at 34 g/t AU and 0.23% CU from 1,384.4m
Berenberg said it attributes a value of US$614mln (£491mln) to Havieron and US$413m for Greatland’s other holdings
A snapshot of some of the main mining stories this week
Greatland noted that Newcrest also pointed out higher-grade zones related to massive sulphide mineralisation were observed
"In our view, the most significant potential catalyst over the next 12 months remains the maiden JORC resource"
The company said the drilling campaign will initially focus on high-priority targets within the prospect including Kraken, Blackbeard and London
Rio Tinto's mine development plans for the Winu deposit in the Paterson region of Australia brightens the spotlight on Greatland Gold which alongside Newcrest is pursuing its own exciting mine project.
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Extension drilling has found a new high grade zone, while infill drilling also continues to yield excellent results
Greatland Gold has a track record of exploration success in Paterson
There was a healthy stream of news from small-cap mining companies again this week
One infill hole hit 109 metres of gold at an average grade of 6.3 grammes per tonne, which Greatland described as among the best results from the project to date
The contracts include an indigenous land use agreement and a legal interest transfer to its farm-in partner, Newcrest Mining
Newcrest has thus far conducted a significant amount of drilling on Havieron
It was another busy week for London-listed small cap miners
Chief executive Gervaise Heddle said he is delighted with these results which he described as excellent
The Havieron gold project has already yielded plenty of very attractive gold intercepts