Berenberg says the stand-out from today’s drilling update from Greatland Gold was hole HAD145AW1, which targeted the Eastern Breccia and Intersected 150.1m at 3.7g/t gold and 0.15% copper.
This is 100m to the east of the resource delineated in the Eastern Breccia, said the broker.
Drilling on the Northern Breccia zone also intersected higher-grade mineralisation with hole HAD085W6 intersecting 52m at 3g/t gold and 0.09% copper from 1,327m.
Greatland highlights 'tremendous' drilling results from Havieron gold-copper joint venture
These broad high-grade intersections are positive as they demonstrate the continued exploration potential of Havieron, believes the broker.
Meanwhile, there was no update on the progress of negotiations with partner Newcrest regarding the acquisition of an additional 5% of the project.
Newcrest has indicated that it should publish an updated resource and reserve for the project following its June year-end with a feasibility study still scheduled for completion by the end of 2022.
Berenberg has kept its 26p share price target and buy recommendation, which it says assumes that a further 12Moz is delineated outside of the PFS reserve.