TIDMGGP
RNS Number : 0856H
Greatland Gold PLC
25 July 2023
Greatland Gold plc (AIM: GGP)
E: info@greatlandgold.com
W: https://greatlandgold.com
: twitter.com/greatlandgold
NEWS RELEASE | 25 July 2023
Exploration and Havieron Development Update
10 holes completed for a total of 3,241 metres drilled at
Scallywag
Paterson South Project maiden drilling campaign completed
Underground development at Havieron reaches 2,510 metres
Greatland Gold plc (AIM:GGP) (Greatland or the Company) is
pleased to provide an exploration and Havieron development
update.
Highlights
-- Scallywag: diamond drilling has been completed at the A35,
A34, Swan, Pearl and Ramses targets; currently awaiting assay
results
-- Paterson South: completed maiden drilling campaign with five
RC holes at Decka and a single diamond hole at Stingray; currently
awaiting assay results
-- Havieron decline development: significant progress continues
with total development to date now at 2,510 metres (as at 20 July
2023); the decline has successfully progressed past the middle
aquifer, which is a significant de-risking event for the decline
development
Greatland Managing Director, Shaun Day, commented: "We are
pleased with the continued underground progress at the Havieron
underground with development advancing to 2,510 metres.
During the quarter, Greatland progressed an exploration drilling
campaign at Scallywag and rapidly mobilised to drill targets at our
new Paterson South Project which is a farm-in and joint venture
arrangement with Rio Tinto Exploration. We await the results from
these drill programmes and look forward to updating the market in
due course as we continue to make good progress across our
portfolio of assets."
Exploration Update
Greatland has completed drilling on its 100% owned Scallywag
tenement. A total of 10 holes were completed for a total of 3,241
metres drilled, targeting conductors from ground electromagnetic
(EM) surveys. Five of these have been surveyed for nearby
conductors with downhole EM. The holes are currently being
processed and assays will be reported when available in a future
release. Downhole EM at the Ramses target was not completed as the
drill hole was not structurally accessible.
The previously announced maiden drilling campaign (see RNS
announcement titled "Drilling commences at Paterson South Project"
dated 26 June 2023) at the Paterson South Project which is a
farm-in and joint venture arrangement with Rio Tinto Exploration
(RTX) has been completed. Drilling on the Budjidowns tenement
adjoining the Havieron mining lease targeted magnetic anomalies and
airborne EM derived conductors with five reverse circulation (RC)
holes at the Decka target. A single diamond hole tested the
magnetic target at Stingray, following up on anomalous geochemistry
identified in a RTX diamond hole. Results from these drill holes
will be reported when available in a future release.
Figure 1 : 2023 drilling completed on the Budjidowns and
Scallywag tenure
Field activities at the Juri Joint Venture tenure focused on
rehabilitation of prior field programmes, ongoing target generation
and project review activities during the three months ended 30 June
2023. Newcrest Mining Limited (Newcrest) elected to assume
management of the Juri Joint Venture from 1 July 2023.
Greatland notes that Newcrest, Greatland's 70% joint venture
partner at Havieron and 51% joint venture partner at Juri, today
released an ASX announcement titled "Quarterly Exploration Report
for the three months ended 30 June 2023." This announcement, so far
as it relates to Havieron and Juri, reports on information
previously released by Greatland (see RNS announcements titled
"Havieron Exploration and Development Update" dated 19 June 2023
and 27 April 2023, and "Juri Joint Venture Management Update" dated
1 June 2023).
As the current surface drilling campaign at Havieron is now
complete, Greatland will align with our Havieron joint venture
manager Newcrest and transition to quarterly reporting of
exploration and development activities at Havieron. Greatland will
continue to report periodically on its own ongoing exploration
activities.
Havieron Development Update
The underground development continues to progress with 2,510
metres completed, including decline support excavations for
ventilation, services and materials handling, as at 20 July 2023.
The development includes 1,776 metres of advance in the exploration
decline.
The decline has successfully progressed past the middle aquifer,
with dewatering rates in line with expectations. This progress is a
significant de-risking event for the decline development.
Contact
For further information, please contact:
Greatland Gold plc
Shaun Day, Managing Director | info@greatlandgold.com
Nominated Advisor
SPARK Advisory Partners
Andrew Emmott / James Keeshan / Neil Baldwin
greatlandgold@sparkapl.com | +44 203 368 3550
Corporate Brokers
Berenberg | Matthew Armitt / Jennifer Lee | +44 203 368 3550
Canaccord Genuity | James Asensio / Patrick Dolaghan | +44 207
523 8000
SI Capital Limited | Nick Emerson / Sam Lomanto | +44 148 341
3500
Media Relations
UK - Gracechurch Group | Harry Chathli / Alexis Gore / Henry
Gamble | +44 204 582 3500
Australia - Fivemark Partners | Michael Vaughan | +61 422 602
720
About Greatland
Greatland is a mining development and exploration company
focused primarily on precious and base metals.
The Company's flagship asset is the world-class Havieron
gold-copper project in the Paterson Province of Western Australia,
discovered by Greatland and presently under development in joint
venture with ASX gold major, Newcrest Mining Limited (which is the
subject of a takeover by Newmont Corporation by way of a scheme of
arrangement).
Havieron is located approximately 45km east of Newcrest's
existing Telfer gold mine. The box cut and decline to the Havieron
orebody commenced in February 2021. Significant progress continues
with the exploration decline at 2,510 metres completed as at
mid-July 2023. Subject to a positive feasibility study and Decision
to Mine, Havieron may leverage the existing Telfer infrastructure
and processing plant.
Greatland has a proven track record of discovery and exploration
success and is pursuing the next generation of tier-one mineral
deposits by applying advanced exploration techniques in
under-explored regions. Greatland has a number of exploration
projects across Western Australia and in parallel to the
development of Havieron is focused on becoming a multi-commodity
miner of significant scale.
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