8th Dec 2022 10:40
(Alliance News) - Greatland Gold PLC on Thursday celebrated a key milestone in its exploration of the Havieron deposit, after reaching its thousand-metre drilling goal in November.
Greatland Gold is a London-headquartered mining development and exploration company, focused primarily on precious and base metal mining in Western Australia and Tasmania. The Havieron gold-copper deposit, located in Paterson, is the company's flagship project.
Exploration decline at the asset reached 1,000 metres during November, as improved ground conditions returned the programme to schedule.
Greatland Gold added that development advance rates have since continued to improve, making the company extra confident in its forecasted schedule.
At the Eastern Breccia and Northern Breccia target regions, growth drilling both confirmed and expanded known mineralisation of pre-existent intercepts.
At the former, significant results from drilling include 26 metres at 2.2 grams a tonne of gold, and 0.2% of copper from 1,584 metres.
Exploration development continues to test regional geophysical targets outside of the main Havieron system. Six drill rigs are presently on site, ahead of the scheduled wind down over the summer wet season.
"Havieron achieved a significant milestone with the exploration decline development extending beyond the 1,000 metre mark. The accelerated rate of advancement reflects the improved ground conditions," said Managing Director Shaun Day.
"The growth drilling programme at Havieron continues to confirm and expand the high-grade extensions to the known mineralisation in the Eastern Breccia and Northern Breccia zones. The last twelve months of impressive growth drilling results supports the expectation for Havieron to deliver an expanded mineral resource estimate."
Greatland Gold shares were trading 2.0% lower at 7.84 pence each in London on Thursday morning.
By Holly Beveridge; Alliance News reporter
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