REG - Greatland Gold PLC - Exploration and Havieron Development Update

Greatland GoldAnnouncement

25/07/2023 07:00

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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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