Equities offer far greater leverage in a rising gold market, and share prices are already on the move
Gold has been the traditional safe haven throughout the ages
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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Gold has been the traditional safe haven throughout the ages
The miner said the numbers represented “one of the best set of drilling results” at the project since its farm-in partner Newcrest began exploring the site
Partner Newcrest now has eight drill rigs operating at Havieron and intends to undertake a further 20,000-30,000 metres of drilling
Analysts reckon Havieron could contain at least five million ounces of gold
Sentiment towards junior precious metals miners could be on the turn
It's beginning to look likely that Havieron will contain at least four million ounces of gold
Greatland has a track record of gold discovery in Australia
Numis hiked its target price to 6p from 4p, with the shares currently trading at 3.42p, up 7% on Friday’s close
Another 20,000 to 30,000 metres of drilling is planned over the next two quarters to support the delivery of a maiden resource by the end of 2020
Initial drilling programme at Firetower East has “clearly demonstrated the potential” for a volcanic hosted massive sulphide (VHMS) system
Analytical results for the final two holes, including the second drill hole at Firetower East, are expected to be received in early 2020
The results included a “significant geochemical response” at the Goliath target and the identification of three new targets with “favourable geology and/or geophysical characteristics”
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It looks as though the mineralised footprint at Havieron will now significantly exceed expectations
“The results from our drilling and geophysical work at Black Hills further highlight the exceptional prospectivity of the Paterson region, which continues to draw in major resource players to the underexplored province”
Analysis will reveal if there are similarities between the style of mineralisation at Derby North and the gold finds in the state of Victoria
The explorer said that its ground gravity survey has helped it identify eight high-priority drilling targets
The four new targets, Kraken, Barbossa, Blackbeard and London will be tested in the next field season
The AIM-listed firm said it will apply the insights gained at Havieron to accelerate exploration at the Paterson licences
In one hole drilled by partner Newcrest, the mineralisation extended for 94m at a grade of 4.5 grammes per tonne with 45m at 7.1g/t in another