The ongoing drilling campaign being conducted by Australian gold major Newcrest on Greatland Gold PLC’s (LON:GGP) Havieron project continues to return long and high grade intercepts.
The latest highlight show 107 metres grading 2.2 grams per tonne gold, including 21 metres at 10 grams per tonne gold.
Newcrest has now completed stage one of its farm-in agreement with Greatland, and has done so in double-quick time.
Six drill rigs will remain operational during the Australian summer period from December to March, with a planned two week shutdown over Christmas.
"These outstanding results significantly extend the known limits of high-grade mineralisation, particularly to the north,” said Gervaise Heddle, chief executive of Greatland.
“It has become clear that the size of the mineralised footprint now significantly exceeds our initial expectations. We are very pleased by Newcrest's continued enthusiasm and commitment to the project, and we look forward to providing further updates on Havieron as drilling continues through the Australian summer period," he added.
Among the other best intercepts as reported by Newcrest were 122.9 metres grading 1.7 grams gold and 0.36% copper, 114.8 metres grading 0.84 grams gold and 0.13% copper, and 184.5 metres grading 0.81 grams and 0.44% copper.
Several other holes also hit comparable grades at similar depths.
Newcrest has now commenced Stage 2 of the farm-in agreement and will spend an additional US$10mln on exploration.
