Greatland Gold PLC (LON:GGP) said new drilling results continue to support the potential for resource expansion of the Havieron gold-copper project in Western Australia.
Newcrest Mining Ltd (ASX:NCM), its joint venture partner in the project, has completed a total of 184,081 metres of drilling from 212 holes so far. Seven new drill holes, previously unreported, have all intersected significant mineralisation.
The drilling continued to confirm extensions to the high-grade South East Crescent and the Northern Breccia mineralisation below and around the initial inferred mineral resource estimate. Drill hole HAD138 (Northern Breccia) reported 84.5 metres at 2.0 grammes a tonne (g/t) gold and 0.05% copper from a depth of 683 metres, including 12.7 metres at 6.0 g/t gold and 0.01% copper.
Greatland Gold said construction activities at the project are also progressing well.
“There is a tremendous amount of activity and excitement with the progress across the Havieron gold-copper project,” said Greatland Gold chief executive Shaun Day. “In addition to the intensity of the drilling programme, the decline development is now maintaining 24-hour operations and the surface support infrastructure is nearing completion."
"The drilling programme keeps on delivering with every hole continuing to hit significant mineralisation while also growing the scale of the project. Drilling has identified several exciting results from the South East Crescent, extending the high-grade mineralisation beneath the initial inferred resource estimate."
"The ongoing success from each set of drill results builds confidence in the world class nature of the Havieron gold-copper project and its potential to expand. This de-risks the project as we progress it towards potential production and adds further upside to the value of the deposit."
"With 15 intersections awaiting assay, the volume of information available is expected to significantly expand with our next update as we continue to grow our understanding and scale of the Havieron gold-copper project."
Works to progress the necessary approvals and permits required to start the development of an operating underground mine are ongoing and a pre-feasibility study is expected to be released in the second half of this year, it said.