Greatland Gold launches new drilling campaign at Havieron licence
Base metals exploration and development company Greatland Gold has launched a new drilling campaign at its wholly-owned Havieron licence in Western Australia after turning in "encouraging results" from the final three holes of its maiden drill programme.
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Greatland's new drill programme at Havieron, which is scheduled to begin in September and anticipated to last ten weeks, will include as many as ten core holes covering a total of 6,000 metres of drilling.
Greatland told investors back in June that results from its initial drill hole were "exceptional", establishing a zone of high-grade gold mineralisation.
On Wednesday, the AIM-listed firm revealed that its final three holes had demonstrated further potential for Havieron to represent a "very large mineralised system with robust intervals".
Elevated gold and copper results between 29.12 and 3.78 grams per tonne of gold and 0.44% copper persisted to the end of all holes - suggesting the mineralisation continued at depth.
Investors seemed none too impressed, with Greatland shares sinking 5.37% to 1.76p by 1030 BST.
Chief executive Gervaise Heddle said, "We are delighted by the results from the first programme which demonstrate the potential of Havieron to host a large mineralised system. The results have provided us with a high degree of confidence to commit to additional work which is designed to further outline the extent of high-grade mineralisation."