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Greatland Gold’s Havieron project gets another thumbs up from Newcrest

Analysts reckon Havieron could contain at least five million ounces of gold

Greatland Gold PLC -

Shares in Greatland Gold PLC (LON:GGP) were on the move after an update about the company’s Havieron project was released by joint venture partner Newcrest Mining Ltd (ASX:NCM.

Greatland’s shares had moved up 5.78% to 5.12p by mid-morning, helped along too by the strength in the gold price.  

Newcrest’s chief executive Sandeep Biswas will present to a mining conference at the Bank of Montreal Global Metals and Mining Conference today.

The presentation provides an update on Newcrest's progress at Havieron and further details on studies currently underway. A copy is available here.

Newcrest now has eight drill rigs in operation at Havieron, up from six rigs previously. The company is also considering constructing an exploration decline at Havieron by end of calendar year 2020.

There may then be the potential to achieve commercial production within approximately 2-3 years from the commencement of decline.

"It is a very exciting time at Havieron as drilling accelerates to define the potential scale of the deposit and preliminary work begins to determine potential mining methods,” said Greatland’s chief executive Gervaise Heddle.

“We are very pleased by Newcrest's ongoing commitment and look forward to providing further updates on progress at Havieron."

 

Quick facts: Greatland Gold PLC

Price: 4.3 GBX

AIM:GGP
Market: AIM
Market Cap: £1.75 m
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