10th Dec 2020 18:22
Greatland Gold PLC - base metals exploration firm - Says initial inferred mineral resource estimate for the Havieron joint venture with Newcrest Mining Ltd comprises 4.2 million ounces gold equivalent.
The estimate comprises 52 million tonnes at 2.0 grams per tonne of gold, 0.31% copper or 2.5 grams per tonne gold equivalent for 3.4 million ounces gold and 160,000 tonnes of copper, or 4.2 million ounces gold equivalent.
The inferred resource is centred on the South East Crescent and adjacent Breccia and includes a portion of the Northern Breccia. Outside of the inferred resource, mineralisation "remains open" within four target regions identified.
Chief Executive Gervaise Heddle says publication of estimate "the first of several important milestones"
"The Initial Resource of 4.2Moz gold equivalent provides us with a strong platform for future growth through exploration while providing a clear focus point for ongoing studies and potential mine development. Importantly, the Initial Resource estimate is centred on just the South East Crescent and adjacent Breccia, and a portion of the Northern Breccia, suggesting that there is significant potential to increase the Inferred Resource over time," says Heddle.
Current stock price: 30.00 pence
Year-to-date change: up sharply from 1.80p
By Lucy Heming;Â [email protected]
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