24th Oct 2019 14:37
(Alliance News) - Greatland Gold PLC on Thursday reported "excellent" results from drilling at Greatland's 100%-owned Havieron licence in the Paterson region of Western Australia.
Newcrest Mining Ltd operates the project under a farm-in with Greatland.
The AIM-listed metals exploration and development company said during the quarter to the end of September, Newcrest completed seven holes for 9,180 metres. Final assay results have been received for holes HAD015, HAD016, HAD017, and HAD018.
The company said HAD018 found mineralisation 100 metres north of HAD013 and HAD014, while HAD017 found mineralisation below HAD013 and HAD014, including the deepest mineralisation intersected at the project to date.
Meanwhile, HAD016 passed over the top of the mineralised envelope and did not intersect significant mineralisation, but HAD015 has made a "significant" step out to the north, intersecting mineralisation 150 metres north of HAD013 and HAD014.
A further fifteen holes are at various stages of progress and further assay results are being processed, said Greatland.
Turning to other activities at Havieron, Greatland said a phase two drilling programme has commenced with six drill rigs now in operation.
In addition, the company said an upgrade to the Havieron camp is largely completed, providing additional facilities to meet the increased size of the campaign.
"We are delighted to report this third set of excellent, high-grade results from Havieron since Newcrest commenced drilling at the project in May this year," said Greatland Chief Executive Gervaise Heddle.
"These results further extend the limits of known mineralisation, with mineralisation now observed over 950 metres of vertical extent, and underline our belief Havieron could become a large, underground mining operation - a prospect which has been significantly accelerated through Newcrest's involvement," added Heddle.
Greatland shares were trading 0.6% higher on Thursday in London at 1.84 pence each.
By Evelina Grecenko; [email protected]
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