1st Oct 2018 12:34
LONDON (Alliance News) - Precious metals miner Greatland Gold PLC said Monday it intersected significant mineralisation from its new drilling campaign at the Havieron project in the Paterson region of western Australia.
Greatland Gold said initial observations from HAD005, a new hole from the second campaign, in conjunction with earlier results from HAD001, suggests that Havieron may represent a "very large mineralised system".
Drilling of HAD006 has now started and the company expects laboratory results from HAD005 within the next six weeks.
The company started its second drilling campaign in mid-September. It consists of ten core holes to 600 metres each to further determine the extent and direction of the high grade zone of mineralisation.
The first drilling campaign revealed positive results during April and May, including 121 metres at 2.93 grams per tonnes of gold at 492 metres.
Chief Executive Officer Gervaise Heddle said: "We are very pleased to see significant visible mineralisation in the first hole of this new drill campaign, which further reinforces our view that Havieron has the potential to be a very large mineralised system.
"Our key priority now is to further test the extent and orientation of the mineralised zone and we look forward to providing further updates as drilling progresses."
Shares in the mining company were trading down 0.9% at 1.05 pence each.
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