5th Feb 2019 13:00
LONDON (Alliance News) - Greatland Gold PLC said Tuesday it is "very pleased" with the "excellent" drill results from its Havieron licence in the Paterson region of Western Australia.
However, shares in Greatland Gold were down 18% Tuesday at 2.00 pence each.
Greatland Gold said these results "significantly" extend the known mineralisation intersected in the first drilling campaign carried out on the licence.
"We are very pleased by these excellent results which further demonstrate the potential for Havieron to become a multi-commodity, bulk tonnage, underground mining operation of truly significant scale," said Chief Executive Officer Gervaise Heddle.
Heddle continued: "These excellent gold and copper assay results flesh out the world-class intersection recorded at HAD005 and reveal a new peak copper grade for the system of 12.4% at HAD006. We are also very excited to see significant widths of elevated cobalt in three of the reported drill holes HAD006, HAD008 and HAD009."
The drilling results included 367.1 metres at 1.15 grammes per tonne gold, 0.44% copper and 176 parts per million cobalt from drill hole HAD006.
Drill hole HAD008 returned 89 metres at 1.97 grammes per tonne gold, 0.8% copper and 362 parts per million cobalt.
Heddle added: "We expect to re-commence drilling at Havieron in March 2019 and currently two rigs are booked with provision for additional capacity, if required, during the year. We look forward to providing further updates to shareholders regarding our plans for 2019 in the coming weeks."
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