Greatland Resources Ltd (AIM:GGP, OTC:GRLGF, FRA:G8G, ASX:GGP) has increased its Group Ore Reserve by 62% to 5.0 million ounces of gold, marking a major step in its plan to build a long-life gold-copper operation around the Telfer mine and Havieron development in Western Australia’s Paterson Province.
The March 2026 Group Ore Reserve stands at 157 million tonnes at 0.99 g/t gold and 0.12% copper for 5.0 million ounces of gold and 196,000 tonnes of copper.
The increase was driven by a substantial uplift at Telfer, where the first phase of Greatland’s drilling campaign delivered a 150% increase in Ore Reserves to 1.8 million ounces of gold, after depletion.
Telfer reserve expands
Telfer’s Ore Reserve has increased by 1.1 million ounces to 119 million tonnes at 0.46 g/t gold and 0.06% copper for 1.8 million ounces of gold and 68,000 tonnes of copper.
The updated reserve includes 90.6 million tonnes at the West Dome Open Pit, plus 22.5 million tonnes of stockpiles, providing what Greatland describes as a multi-year baseload reserve for the operation.
West Dome Open Pit was the standout contributor, with its Ore Reserve rising by 1.1 million ounces to 1.4 million ounces, a 375% increase. The reserve includes 90.6 million tonnes at 0.46 g/t gold and 0.05% copper for 1.4 million ounces of gold and 45,000 tonnes of copper.
A higher-grade component within West Dome totals 70.8 million tonnes at 0.53 g/t gold and 0.05% copper for 1.2 million ounces of gold.
Underground upside remains
Greatland has also reported a maiden Main Dome Underground Ore Reserve of 0.2 million ounces of gold, comprising 3.6 million tonnes at 1.33 g/t gold and 0.31% copper for 0.2 million ounces of gold and 11,000 tonnes of copper.
This confirms a multi-year mine life extension for existing underground mining areas.
However, the latest reserve does not yet include the West Dome Underground project or the Vertical Stockwork Corridor below the historic sub-level cave, both of which remain in Resource and are subject to ongoing studies.
Havieron underpins long-term plan
The Group Ore Reserve also includes the Havieron Underground Project, which remains unchanged at 38.5 million tonnes at 2.63 g/t gold and 0.33% copper for 3.3 million ounces of gold and 128,000 tonnes of copper.
Together, Telfer and Havieron provide Greatland with a combined reserve base of 5.0 million ounces of gold and 196,000 tonnes of copper.
Greatland managing director Shaun Day said the result was an “outstanding achievement” and an important step toward a multi-decade mine life for the Telfer-Havieron complex.
“This substantial uplift in reserves at Telfer only reflects drilling from just our first 12 months of ownership, with ongoing high cadence drilling planned to support future resource and reserve upgrades,” Day said.
Debt facility reaches financial close
Greatland has also achieved financial close on Facility B of its US$500 million corporate debt facility.
Facility B is a US$225 million undrawn revolving credit facility with a seven-year tenor, available for working capital and general corporate purposes, including Havieron development.
What’s ahead
Greatland plans to maintain high-cadence drilling at Telfer into FY27 as it targets further Resource and Reserve growth.
The company will focus on converting additional open-pit resources, advancing studies at West Dome Underground and the Vertical Stockwork Corridor, and increasing the contribution of higher-grade underground ore over time, while developing Havieron.
About Greatland
Greatland is a gold and copper mining company listed on the ASX and London Stock Exchange’s AIM Market.
Its portfolio includes the 100%-owned Telfer mine, the adjacent 100%-owned Havieron gold-copper development project and a broader exploration portfolio in the Paterson Province of Western Australia’s East Pilbara region.
