4th Jul 2018 11:13
LONDON (Alliance News) - Precious and base metals miner Greatland Gold PLC said on Wednesday it will conduct a new drilling programme on its Havieron licence, Australia following results from the final three holes of its first drilling campaign.
The new programme will be for up to ten core holds for 6,000 metres of drilling, and is expected to start during September and last ten weeks.
The results from the final three holes of the first campaign saw robust intervals, with hole HAD003 revealing 21 metres at 3.78 grams per tonne of gold and 0.44% copper from 418 metres, and HAD002 having 1 metre at 5.9 grams per tonne of gold and 0.24% copper from 443 metres.
The elevated gold and copper results persisted to end of all holes suggesting that the mineralisation continues at depth.
"We are delighted by the results from the first programme which demonstrate the potential of Havieron to host a large mineralised system. The results have provided us with a high degree of confidence to commit to additional work which is designed to further outline the extent of high grade mineralisation," said Chief Executive Officer Gervaise Heddle.
"We are further encouraged by Rio Tinto's application for an exploration licence adjacent to Greatland's Havieron licence soon after we disclosed exceptional results from our first drill hole. We look forward to keeping the market updated on our progress," Heddle added.
Shares in Greatland Gold fell 11% at 1.66 pence on Wednesday.
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