Greatland Gold upbeat on latest drilling results from Havieron

Greatland Gold reported further high-grade drilling results from Newcrest's campaign at Havieron on Thursday, which defined up to four sub vertical zones of higher-grade mineralisation within a larger mineralised envelope.

The AIM-traded firm said the results further extended the mineralised envelope to the north and at depth, with mineralisation now observed over 950 metres of vertical extent.

It said the best results included 45 metres at 7.1 grams of gold per tonne and 0.08% copper from 1077 metres at HAD017, and 96.4 metres at 4.5 grams of gold per tonne and 0.14% copper from 916.4 metres at HAD018.

Newcrest had met the minimum expenditure commitment of $5m, ahead of its expected timetable, with six drill rigs operational at the site as Newcrest began the second phase drilling programme.

“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 Gold chief executive officer 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 that Havieron could become a large, underground mining operation - a prospect which has been significantly accelerated through Newcrest's involvement.

“We are very pleased by Newcrest's continued enthusiasm and commitment to the project, as evidenced by the six drill rigs that are now in operation, and look forward to providing further updates on the drilling campaign at Havieron.”

As at 1248 BST, shares in Greatland Gold were down 0.38% at 1.82p.