Greatland Gold upbeat on latest Havieron drilling

Mining exploration and development company Greatland Gold updated on the drilling campaign at the Havieron gold-copper project in the Paterson region of Western Australia on Thursday, with the latest results comprising 22 new drill holes from the infill and growth drilling programmes, plus 11 holes previously reported.

The AIM-traded firm said “significant” mineralisation was reported in 18 of the new holes.

It said the Havieron joint venture had now completed a total of 210,629 metres of drilling from 254 holes, with all of the latest completed holes continuing to intersect mineralisation, and all but one reporting significant mineralisation.

A further 24 drill holes had been completed, awaiting assay.

Drilling activities since its last update included new results, which continued to support the potential for resource expansion of the Havieron gold-copper project.

The board said hole HAD117W6 returned 120.4 metres at 10 grams of gold per tonne and 0.66% copper from 764.6 metres, which was the best gram-metre intercept drilled to date at Havieron.

It said further significant results from the growth drilling continued to demonstrate the potential for resource additions outside of the existing inferred mineral resource limits, including the extension of the SE Crescent Zone below the current mineral resource, where increasing grade and thickness of mineralisation has been observed from recent drilling.

The firm said it also supported the expansion of multiple higher-grade targets including Northern Breccia and NW Pod, and the potential for additional NW trending corridors including the Eastern Breccia.

“The volume and quality of results at Havieron continue to impress as we observe increases in both grade and thickness at depth,” said chief executive officer Shaun Day.

“This supports continuity of the high grade zonations and potential upgrades to the mineralisation.

“It speaks volumes for the tremendous quality of Havieron that after reaching a milestone of 200,000 metres of drilling, the best gram metre intercept ever drilled was just delivered, located at the high grade South East Crescent Zone.”

Day said the results of the 90,000 metres growth drilling programme continued to extend mineralisation across multiple zones across Havieron.

“These outstanding results expand the high-grade South East Crescent Zone and add further scale to the Havieron deposit in multiple directions including within the Northern Breccia and in the Eastern Breccia.

“The ongoing success from each set of drill results confirm Havieron as a world class gold-copper project and its potential to expand further in scale.

“The pre-feasibility study highlighted the low capex, low risk approach to developing Havieron, which puts this asset in a class of its own as we progress it forward and add further upside to its future economic outcomes.”

At 1108 BST, shares in Greatland Gold were up 0.03% at 17.48p.