Greatland Gold said the main decline at the Havieron mine development in Paterson, WA, now exceeds 2,000 metres.
An update from partner Newcrest indicated shaft is now at 2,030 metres out of the 2,800 metres required to reach the base of the Permian cover.
Development is now approaching the lower and final aquifer that lies at the base of the Permian cover, the update added.
Greatland also noted that Newcrest’s takeover by mining giant Newmont has now been approved by the authorities involved.
"It looks forward to the opportunity to work constructively with Newmont to optimise the development of Havieron, finalise the feasibility study and progress to a decision to mine," Greatland added.
Havieron is a 30/70 joint venture between Greatland and Newcrest/Newmont.