Greatland Gold PLC (AIM:GGP, OTC:GRLGF) said recent drilling at the Havieron gold project in Western Australia unearthed the best intercept yet.
The intercept, beneath the existing South Crescent resource, was over a width of 102.4m at a grade of 10 g/t gold and 0.66% copper.
Greatland added it was one of a number of “tremendous high-grade intercepts' released within the latest quarterly drilling report by partner Newcrest, which is undertaking the exploration at Havieron in return for a 70% stake.
The latest results comprised 22 new drill holes from the Infill and growth drilling programmes plus 11 holes previously reported, said the AIM-listed group.
Significant mineralisation was reported in 18 of the new holes, it added.
The Havieron joint venture has completed a total of 210,629m drilling from 254 holes. The current programme is 90,000 metres scheduled to be completed by June 2022.
Greatland said early-stage mining development at the site was also progressing well, with the exploration decline now at 211m and planning is underway for the first ventilator shaft.
Shaun Day, Greatland Gold’s chief executive, said: " The volume and quality of results at Havieron continue to impress as we observe increases in both grade and thickness at depth.
"This supports continuity of the high-grade zonations and potential upgrades to the mineralisation.
"It speaks volumes for the tremendous quality of Havieron that after reaching a milestone of 200,000 metres of drilling, the best gram metre intercept ever drilled was just delivered, located at the high-grade South East Crescent Zone.
"These outstanding results expand the high-grade South East Crescent Zone and add further scale to the Havieron deposit in multiple directions including within the Northern Breccia and in the Eastern Breccia.
“The pre-feasibility study highlighted the low capex, low-risk approach to developing Havieron, which puts this asset in a class of its own.”