Greatland Gold PLC's (AIM:GGP, OTC:GRLGF) stock surged 9% after what were described as “exceptional” drilling results from the company’s first underground exploration at West Dome, confirming the potential for high-grade gold and copper below the Telfer open pit.
Out of 19 drill holes, 16 hit strong mineralisation, with an average intercept of 23.2 metres grading 2.95 grams per tonne of gold and 1.07% copper.
One of the standout results showed 14.3 metres at 9.06 grams per tonne of gold and 8.57% copper. The mineralisation extends over 700 metres and remains open, meaning there’s room for further resource expansion.
CEO Shaun Day highlighted that West Dome shares key geological features with Main Dome, a nearby mine that has already produced more than three million ounces of gold and 210,000 tonnes of copper.
With Telfer’s existing infrastructure in place, Greatland says a new underground mine at West Dome could be developed quickly. A second phase of drilling is already being planned.
In morning trading, the stock was up 0.71p at 8.91p.