Greatland Gold 'delighted' with initial exploration at Juri
Drilling comprised nine holes for 4,958 m testing six targets
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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Drilling comprised nine holes for 4,958 m testing six targets
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Aussie giant has given Greatland notice to exercise a 5% option
“We're looking at releasing a sustainability report, which I think, is increasingly important in the market,” said the company's CEO
The Havieron joint venture has now completed a total of 219,561 metres of drilling from 266 holes
An enlarged operation of 3mln/t per year is under consideration said Berenberg.
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Outside of Havieron, Berenberg noted that Greatland has over 1,000km2 of exploration holdings in the Paterson region
Greatland announced a maiden resource of 3.4 million ounces of gold and 160,000 tonnes of copper at Havieron in December 2020 and expects to upgrade this estimate in the near-term
Geologists say the two new areas share similar magnetic and gravity anomaly characteristics with Havieron
There's already an inferred resource of 4.4mln ounces at Havieron, but could there be more?
"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"
"Advancing to Stage 2 of the Juri JV marks an important step forward which further demonstrates the confidence and financial commitment of our partner Newcrest,” said Greatland chief executive Shaun Day
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Significant expansion potential remains, with further drilling planned
How the economics of Havieron dovetail with the economics of Telfer will be the key question the pre-feasibility study will be addressing
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ASOS, Dunelm, Domino’s Pizza, Marston’s, Barratt Developments and National Express are also on the schedule
In July, broker Berenberg predicted that in light of the recent drill results the current resource at Havieron would be materially expanded