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Greatland Gold holds a handful of promise across Australia

Snapshot

  • Australia-focused gold explorer with numerous projects
  • Newcrest Mining has partnered with Greatland at Havieron
  • Good grades also unearthed at other prospects
Newcrest Mining -

Quick facts: Greatland Gold PLC

Price: 1.645 GBX

AIM:GGP
Market: AIM
Market Cap: £58.85 m
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What it owns

WA

The Paterson Project comprises the Havieron, Black Hills and Paterson Range East licences, covering over 385 square kilometres of under-explored ground in the Paterson Province in Western Australia.

Newcrest Mining has a farm-in agreement to explore and develop the Havieron gold-copper project and earn 70% interest in the 12 blocks by spending up to US$65mln.

Panorama consists of three adjoining exploration licences, covering 155 square kilometres, located in the Pilbara region of Western Australia. Greatland has recently identified potential gold targets on both the north-western and southern licence.

Ernest Giles is 250km north-east of Laverton in the Yilgarn in central Western Australia. The project covers approximately 1,370sq km of unexplored Yilgarn Craton hosting greenstone belts and intrusives with over 180km of strike of prospective rocks. Greatland is hoping for a 5mln oz plus deposit.

Bromus is 25km south-west of Norseman and 65km south of the historic Chalice gold mine in the southern Yilgarn region of Western Australia. The Bromus exploration licence covers 52sq km of under-explored greenstone & intrusive granites of the Archean Yilgarn Block at the southern end of the Kalgoorlie-Norsman Belt, host to over 120M oz Au and numerous nickel deposits.

 

Tasmania

Firetower consists of one 100% owned tenement with gold and copper targets within approximately 12km of strike of prospective rocks in northern Tasmania

Warrentinna is 60km North-East of Launceston in North-Eastern Tasmania and covers an area of 37sq km with 15km of strike prospective for gold.

How is it doing?

Exploration is ongoing across Greatland’ Gold PLC's (LON:GGP) portfolio

Following a farm-in agreement with Newcrest Mining Limited (ASX:NCM) in March, the miner has announced three sets of “excellent” results following the end of its latest full year on 30 June, with Newcrest increasing the number of drill rigs from two to six and meeting the US$5mln minimum expenditure commitment ahead of the expected timetable.

If the feasibility study results in positive outcome, ore from Havieron, in Western Australia, will be toll processed at Newcrest's Telfer Gold Mine, 45 kilometres west of the project, allowing lower upfront capital costs, reduced time to production and first cash flows, and the potential for a significantly higher net present value for the project.

The firm said it will apply the insights gained at Havieron to accelerate exploration at its other Paterson licences where it hopes to find tier-one gold-copper deposits.

“Greatland is the only AIM-listed company with exposure to the new ‘gold/copper rush’ in the Paterson region of Western Australia,” said chairman Alex Borrelli in a statement.

The miner’s Paterson project comprises the Havieron, Paterson Range East and Black Hills licences that collectively cover more than 385sq km of ground.

Cash at the end of the year to 30 June was £2.2mln, while losses rose to £3.2mln.

More recently, the company said it had identified four new drill targets at its Scallywag prospect in Western Australia following geophysical surveys at the site.

Greatland said the four targets, Kraken, Barbossa, Blackbeard and London, had been identified through an induced polarisation (IP) survey across the northern portion of the prospect and will be tested in the next field season.

Additional IP surveys will also be undertaken at the southern portion of the prospect to identify more potential drilling targets.

 

Latest video

Inflexion points

  • Drilling results are likely to dominate Greatland’s newsflow with so much exploration underway
  • Newcrest gets going on phase 2 at Havieron
  • Partners for others of the group’s projects
  • Gold price keeps rising

What the broker says: Numis about Havieron

"Greatland has released results for the year to the end of June with period end cash of £2.75m. This has since been augmented by a further £3.9m of equity and the company remains well funded with NCM funding work at Havieron." 

"GGP also recently announced further positive drill results from Havieron, including 96.4m at 4.5g/t gold and 0.14% copper in HAD018, and interesting early stage geophysical results from the wholly-owned Scallywag prospect that is near Havieron. We retain a Buy recommendation and a 4p TP with the main catalyst for the shares being drill results from the ongoing programme at Havieron."

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Watch

Full interview: Greatland Gold identifies multiple targets at Paterson Range...

Greatland Gold's (LON:GGP) Gervaise Heddle talks Proactive London's Andrew Scott through a number of targets they've identified for follow up work at its Paterson Range East licence. The Paterson Range East licence lies nearly 25 kilometres north of GGP's Havieron gold-copper prospect. 

6 days, 5 hours ago

4 min read