REG - Greatland Gold PLC - Havieron Exploration and Development Update
21/07/2022 07:30
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RNS Number : 2696T Greatland Gold PLC 21 July 2022
21 July 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
MARKET ABUSE REGULATIONS. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE
PUBLIC DOMAIN.
Greatland Gold plc
("Greatland" or "the Company")
Havieron Exploration and Development Update
Extensive Growth Drilling programme continues to identify high grade
mineralised extensions in the Eastern Breccia, South-East Crescent Zone and
Northern Breccia
New high-grade intercepts outside the Eastern Breccia Mineral Resource support
its potential to host multiple northwest trending high grade sulphide
dominated domains
High grade results in the Northern Breccia demonstrate the potential for
further high-grade sulphide mineralisation outside the South-East Crescent
Zone
Greatland Gold plc (AIM:GGP), a mining development and exploration company
with a focus on precious and base metals, is pleased to provide an exploration
and development update at the Havieron gold-copper project in the Paterson
region of Western Australia. The Company notes the release of an ASX
announcement titled "Quarterly Exploration Report" and "Quarterly Report" by
Newcrest Mining Ltd ("Newcrest") earlier today that included results
previously released in Greatland's announcement of 9 June 2022 along with the
following new results.
Highlights
§ Seven drill rigs currently on site, all focused on growth targeting:
§ Eastern Breccia: drilling continuing to expand the mineralised footprint of
the Eastern Breccia, including further defining higher-grade zones
§ South-East Crescent: continuous mineralisation identified across 1,000
vertical meters and remains open. Drilling continuing to progressively test
for extensions to the South-East Crescent, with drilling planned up to 400
metres below the Updated Mineral Resource(1)
§ Northern Breccia: drilling aimed at extending high-grade zones of
mineralisation at depth
§ New Targets: drilling continuing to test geophysical targets outside of the
main Havieron system, with follow-up drilling planned at regional targets on
the Havieron mining lease
New drilling results
§ Eastern Breccia drilling further highlights the geological continuity of
higher grade mineralisation. Recent intercepts reinforce the potential for the
Eastern Breccia corridor to host Crescent style high grade mineralisation. The
Eastern Breccia remains open at depth:
§ HAD145AW4 returned 54m @ 3.8g/t Au & 0.02% Cu from 1,854m including
19.6m @ 9.9g/t Au & 0.02% Cu from 1,854m
§ HAD141W2^ returned 39m @ 2.9g/t Au & 0.15% Cu from 1,824.6m including
13.8m @ 7.8g/t Au & 0.15% Cu from 1,849.8m
§ HAD152W1 returned 82.3m @ 1.7g/t Au & 0.96% Cu from 1,829.2m
including 15.9m @ 1.9g/t Au & 1.6% Cu from 1,853.1m
§ HAD104W2 returned 51m @ 1.1g/t Au & 0.07% Cu from 1,496m
§ South-East Crescent drilling has extended the high grade zone down a
further 100 metres with Crescent zone having now been continuously intersected
to over 1,000 vertical metres (3800m RL(2)) and remaining open at depth:
§ HAD108AW1 returned 93.3m @ 3.6g/t Au & 0.11% Cu from 599.7m including
12.4m @ 10.0g/t & 0.38% Cu.
§ HAD153 returned 44.9m @ 2.5g/t Au & 0.14% Cu from 1,577.1m including
25m @ 4.1g/t Au & 0.09% Cu from 1,585m
§ Northern Breccia intersected high grade results to demonstrate the
potential for further high grade sulphide mineralisation outside the
South-East Crescent Zone:
§ HAD055W7 intersected 70.9m @ 2.0g/t Au & 0.11% Cu from 973.8m including
1.4m @ 45.0g/t Au & 0.21% Cu from 1,043.3m
§ HAD055W9 intersected 89.0m @ 0.86g/t Au & 0.16% Cu from 835m including
10m @ 1.7g/t Au & 0.37% Cu from 873m
§ Early Works improvements: Construction activities are progressing
including:
§ An exploration decline advance of 489 metres as at 13 July 2022
§ 111.5 metres advanced since the last report on 9 June 2022 reflecting the
highest daily advancement rate during a single reporting period since
commencement of the exploration decline
§ The infrastructure construction programme to support the early works
decline progression is largely complete. Establishment of the site
administration facilities, supporting mine and water management infrastructure
has been successfully completed
Poor ground conditions were experienced during the previous quarter, changes
in the design of the decline during the quarter brought forward the first
downward spiral to the current advance position which has allowed the decline
to transition into better ground conditions as forecasted, which accelerated
decline advancement rates.
Works are ongoing to progress the necessary approvals and permits required to
commence construction of the infrastructure which will support production at
Havieron. Newcrest is reviewing the impact of inflationary pressures on future
capital expenditure and operating costs as part of the Feasibility Study, with
value engineering and other cost mitigation strategies underway.
Feasibility Study The schedule for first ore continues to be reviewed and will
be updated with the release of the Feasibility Study, which remains on track
for completion during the December 2022 quarter(3).
Shaun Day, Managing Director of Greatland Gold plc, commented: "Havieron's
extensive growth drilling program continues to identify and expand high grade
extensions to the mineralisation in the Eastern Breccia, South-East Crescent
Zone and Northern Breccia.
"Eastern Breccia growth drilling continues to expand and define the
mineralised footprint and extensions of the zonation. This Eastern Breccia
drilling includes a new northern-most high grade intercept. The observed grade
from this drilling reinforces the potential for the Eastern Breccia corridor
to host Crescent style high grade mineralisation.
"With seven drill rigs all focusing on growth this demonstrates the ongoing
potential for the continued expansion of the Havieron system footprint below
and adjacent to the existing resource.
The observed acceleration of the decline advancement is particularly pleasing.
The improved advancement productivity is consistent with the expected
improvement of ground conditions with depth."
(1) Refers to Greatland's Updated Mineral Resource as announced on 3(rd) March
2022
(2) Relative depth. All relative depth (RL) information is reported in
Australian Height Datum (AHD) +5,000 metres
(3 )Newcrest market update to Australian Stock Exchange on 12(th) October
2021
Significant New Results (intercepts are reported as downhole width not true
width)
Eastern Breccia
§ HAD104W2
§ 51m @ 1.1g/t Au & 0.07% Cu from 1,496m
§ HAD141W2^
§ 39m @ 2.8g/t Au & 0.15% Cu from 1,824.6m
§ including 13.8m @ 7.6g/t Au & 0.15% Cu from 1,849.8m
§ HAD145AW4
§ 54m @ 3.8g/t Au & 0.02% Cu from 1,854m
§ including 19.6m @ 9.9g/t Au & 0.02% Cu from 1,854m
§ HAD152W1
§ 82.3m @ 1.7g/t Au & 0.96% Cu from 1,829.2m
§ including 15.9m @ 1.9g/t Au & 1.6% Cu from 1,853.1m.
South-East Crescent
§ HAD108AW1
§ 93.3m @ 3.6g/t Au & 0.11% Cu from 599.7m
§ including 12.4m @ 10.0g/t & 0.38% Cu.
§ HAD153
§ 44.9m @ 2.5g/t Au & 0.14% Cu from 1,577.1m
§ including 25m @ 4.1g/t Au & 0.09% Cu from 1,585m.
Northern Breccia
§ HAD055W7
§ 70.9m @ 2.0g/t Au & 0.11% Cu from 973.8m
§ including 1.4m @ 45.0g/t Au & 0.21% Cu from 1,043.3m
§ HAD055W9
§ 89.0m @ 0.86g/t Au & 0.16% Cu from 835m
§ including 10m @ 1.7g/t Au & 0.37% Cu from 873m
In addition to this release, a PDF version of this report with supplementary
information can be found at the Company's website:
https://greatlandgold.com/investors/regulatory-news/
(https://greatlandgold.com/investors/regulatory-news/)
Enquiries:
Greatland Gold PLC +44 (0)20 3709 4900
Shaun Day info@greatlandgold.com
www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated Adviser) +44 (0)20 3368 3550
Andrew Emmott/James Keeshan
Berenberg (Joint Corporate Broker and Financial Adviser) +44 (0)20 3207 7800
Matthew Armitt/Jennifer Lee/Jack Botros
Canaccord Genuity (Joint Corporate Broker and Financial Adviser) +44 (0)20 7523 8000
James Asensio/Patrick Dolaghan
Hannam & Partners (Joint Corporate Broker and Financial Adviser) +44 (0)20 7907 8500
Andrew Chubb/Matt Hasson/Jay Ashfield
SI Capital Limited (Joint Broker) +44 (0)14 8341 3500
Nick Emerson/ Sam Lomanto
Luther Pendragon (Media and Investor Relations) +44 (0)20 7618 9100
Harry Chathli/Alexis Gore
Further Information on Drilling and Operations at Havieron
The Havieron gold-copper deposit is centered on a deep magnetic anomaly
located 45km east of Telfer in the Paterson Province where exploration
drilling by Greatland during 2018 resulted in the discovery of gold and copper
ore under 420 metres of post mineralisation cover. The Joint Venture commenced
drilling during the June 2019 quarter and has completed 249,240 metres of
drilling from 306 drill holes to date (excluding holes in progress, abandoned
holes or drill holes not yet sampled).
A further 5,622 metres of drilling from 11 new holes and extensions to one
previously reported hole have been completed since the last update ("Havieron
Exploration and Development Update", RNS dated 9 June 2022). Assay results are
reported from 11 new holes and one previously reported hole. (Figures 1 and
2). 9 holes returned significant assay intercepts in excess of 50 gram metres
Au (Au ppm x length metres).
Growth drilling is focused on potential extensions at the Southeast Crescent
Zone, Northern Breccia and Eastern Breccia, while regional exploration holes
are planned to locate new discoveries outside the main Havieron mineralised
system. Assays reported include drilling from:
§ South East Crescent Deeps - assay results reported for two drill holes with
one hole awaiting assays.
§ Northern Breccia - assay results are reported for four drill holes with one
hole awaiting assays.
§ Eastern Breccia - assay results reported for six drill holes, with five
holes awaiting assays.
There are now seven drill rigs on site all focused on growth drilling. The JV
is targeting an extensive growth drilling programme in the 12 months to 30
June 2023 which has the potential to again expand the Havieron resource. Refer
to Appendix 2 for all reported results.
At the South East Crescent Deeps Target, growth drilling continued, defining
high grade mineralisation below the Updated Mineral Resource, which remains
open at depth. Results were received from one drill hole - HAD153.
The results returned from HAD108AW1 occurs in the upper part of the deposit
(4650mRL), this area was opportunistically targeted in the design of
HAD108AW1, who's main purpose was testing the upper limits of the Eastern
Breccia. No significant mineralisation was identified in the Eastern Breccia
position of this hole.
Results include:
§ HAD153
§ 44.9m @ 2.5g/t Au & 0.14% Cu from 1,577.1m
§ including 25m @ 4.1g/t Au & 0.09% Cu from 1,585m
§ HAD108AW1
§ 93.3m @ 3.6g/t Au & 0.11% Cu from 599.7m
§ including 12.4m @ 10.0g/t & 0.38% Cu.
At the Northern Breccia infill drilling has confirmed the known high-grade
mineralisation within the core of the Northern Breccia, adjacent to the high
grade South-East Crescent (3500m RL).
Results include:
§ HAD055W7
§ 70.9m @ 2.0g/t Au & 0.11% Cu from 973.8m
§ including 1.4m @ 45.0g/t Au & 0.21% Cu from 1,043.3m
§ HAD055W9
§ 89.0m @ 0.86g/t Au & 0.16% Cu from 835m
§ including 10m @ 1.7g/t Au & 0.37% Cu from 873m
At the Eastern Breccia, assays for 6 holes targeting strike and depth
extensions from previously reported drill holes have been received, with
assays for 5 holes awaited. The Eastern Breccia is developed below the 4,100RL
with a footprint of over 500m in strike, up to 200m in width, and over 250m in
vertical extent. The Eastern Breccia remains open at depth. Within this zone
multiple northwest trending internal higher-grade sulphide dominated domains
are observed. Results for the quarter further highlight geological continuity
of higher grade within the Eastern Breccia.
Results include:
§ HAD104W2
§ 51m @ 1.1g/t Au & 0.07% Cu from 1,496m
§ HAD141W2^
§ 39m @ 2.8g/t Au & 0.15% Cu from 1,824.6m
§ including 13.8m @ 7.6g/t Au & 0.15% Cu from 1,849.8m
§ HAD145AW4
§ 54m @ 3.8g/t Au & 0.02% Cu from 1,854m
§ including 19.6m @ 9.9g/t Au & 0.02% Cu from 1,854m
§ HAD152W1
§ 82.3m @ 1.7g/t Au & 0.96% Cu from 1,829.2m
§ including 15.9m @ 1.9g/t Au & 1.6% Cu from 1,853.1m.
The JV is targeting an extensive growth drilling programme in the 12 months to
30 June 2023 which has the potential to further expand the Havieron resource.
Growth drilling continues to show potential for resource additions outside of
the existing Inferred Mineral Resource limits, including:
§ Extension of the South-East Crescent Zone at depth below the Updated
Mineral Resource;
§ Potential for additional material in the Eastern Breccia, including higher
grade "Crescent" like material, currently open along strike and at depth;
§ Expansion of multiple higher-grade zones including Northern Breccia and
North-West Pod; and,
§ Additionally, drilling is continuing to test geophysical targets outside of
the main Havieron system.
Refer to Appendix 1 for additional information and Appendix 2 for all
drillhole results reported during the period.
Development Update
Newcrest has advised advance rates associated with the exploration decline
have increased after changes in the design of the decline brought forward the
first downward spiral to the current advance position. This has allowed the
decline to transition into better ground conditions earlier.
Works are also ongoing to progress the necessary approvals and permits
required to commence construction of the infrastructure which will support
production at Havieron. Newcrest is reviewing the impact of inflationary
pressures on future capital expenditure and operating costs as part of the
Feasibility Study, with value engineering and other cost mitigation strategies
underway.
Background to Havieron and Joint Venture Agreement with Newcrest
The Havieron copper-gold project is operated by Newcrest under a Joint Venture
Agreement with Greatland. Newcrest has earned a joint venture interest of
70% (30% Greatland). Newcrest may also acquire an additional 5% joint
venture interest at fair market value (under the principles of the Joint
Venture Agreement) and, if exercised, Newcrest will be entitled to an
overall joint venture interest of 75% (Greatland 25%). Greatland and
Newcrest continued to progress the process to determine the option price for
the 5% interest in accordance with the Joint Venture Agreement during the
period.
The Joint Venture Agreement includes tolling principles reflecting the
intention of the parties that, subject to a successful exploration programme
and feasibility study and a positive decision to mine, the resulting joint
venture mineralised material will be processed at Telfer, located 45km west of
Havieron.
A regional map showing the Havieron licence area with regional targets and
adjacent landholdings can be found at: www.greatlandgold.com/paterson
(https://greatlandgold.com/paterson/)
A version of this release with the full images and diagrams can be found on
the Company's website: https://greatlandgold.com/investors/regulatory-news/
(https://greatlandgold.com/investors/regulatory-news/)
Figure 1. 3D Plan view schematic showing the spatial association of the
current growth targets, SE Crescent, Northern Breccia, NW Pod and Eastern
Breccia targets in relation to the existing mineralised extents. Also
highlighted are selected newly reported growth drilling results.
Figure 2. Schematic plan view map showing drill hole locations and significant
intercepts reported in this release superimposed on the interpreted geology.
Previously reported holes are not shown for the sake of clarity. Note some
holes and results appear on multiple sections due to the sections orientation
and sections overlap.
Figure 3. Plan view schematic of a horizontal slice at 3850mRL through the
Crescent Sulphide Zone and Breccia-hosted Zones, showing the extents of the
0.5 and 1.0 g/t Au LeapfrogTM grade shells with highlighted newly reported
intercepts for this period. This diagram highlights >50gram metres
intersections drilled during the period, refer to inset diagram for
relationship to all Havieron drilling.
Figure 4. Schematic cross section of geology and significant new drillhole
intercepts (looking northwest, Section Line S1, +/-100m section width, as
shown in Figure 2). Due to section window size and orientation holes may
appear on multiple sections. This diagram highlights >50gram metres
intersections drilled during the period.
Figure 5. Schematic cross section of geology and significant new drillhole
intercepts (looking northeast, Section Line S2, +/-75m section width, as shown
in Figure 2. Due to section window size and orientation holes may appear on
multiple sections. This diagram highlights >50gram metres intersections
drilled during the period.
Figure 6. Schematic cross section of geology and significant new drillhole
intercepts (looking northeast, Section Line S3, +/-75m section width, as shown
in Figure 2). Due to section window size and orientation holes may appear on
multiple sections. This diagram highlights >50gram metres intersections
drilled during the period.
Competent Person:
Information in this announcement that relates to exploration results has been
extracted from the following announcements:
"Quarterly Exploration Report", dated 21 July 2022 (Newcrest)
"Havieron Exploration and Development Update", dated 9 June 2022 (Greatland)
"Havieron Exploration and Development Update", dated 28 April 2022 (Greatland)
"Quarterly Exploration Report", dated 28 April 2022 (Newcrest)
"Havieron Growth Drilling Update", dated 10 March 2022 (Greatland)
"Havieron Resource and Reserves Update", dated 3 March 2022 (Greatland)
"Havieron Exploration Update", dated 28 January 2022 (Greatland)
"Quarterly Exploration Report", dated 28 January 2022 (Newcrest)
"Havieron Exploration and Development Update", dated 9 December 2021
(Greatland)
"Exploration Update", dated 9 December 2021 (Newcrest)
"Havieron Exploration and Development Update", dated 28 October 2021
(Greatland)
"Quarterly Exploration Report", dated 28 October 2021 (Newcrest)
"Havieron Development and Exploration Update" dated 9 September 2021
(Greatland)
"Exploration Update", dated 9 September 2021 (Newcrest)
"Havieron Development and Exploration Update" dated 22 July 2021 (Greatland)
"Quarterly Exploration Report", dated 22 July 2021 (Newcrest)
"Further Excellent Growth Drilling Results at Havieron", dated 10 June 2021
(Greatland)
"Exploration Update", dated 10 June 2021 (Newcrest)
"Excellent Growth Drilling Results at Havieron", dated 29 April 2021
(Greatland)
"Quarterly Exploration Report", dated 29 April 2021 (Newcrest)
"Further Outstanding Infill Drilling Results at Havieron", dated 11 March 2021
(Greatland)
"Exploration Update", dated 11 March 2021 (Newcrest)
"Newcrest Reports Further Drilling Results at Havieron", dated 28 January 2021
(Greatland)
"Quarterly Exploration Report", dated 28 January 2021 (Newcrest)
"Newcrest Reports Further Drilling Results at Havieron", dated 10 December
2020 (Greatland)
"Exploration Update", dated 10 December 2020 (Newcrest)
"Initial Inferred Mineral Resource Estimate for Havieron", dated 10 December
2020 (Greatland)
"Initial Inferred Mineral Resource Estimate for Havieron", dated 10 December
2020 (Newcrest)
"Drilling Results at Havieron Highlight Potential New Eastern Breccia Target",
dated 29 October 2020 (Greatland)
"Quarterly Exploration Report", dated 29 October 2020 (Newcrest)
"Latest Drilling Results at Havieron Highlight Potential Bulk Tonnage Target",
dated 10 September 2020 (Greatland)
"Exploration Update", dated 10 September 2020 (Newcrest)
"Newcrest Identifies New Zone of Breccia Mineralisation at Havieron", dated 23
July 2020 (Greatland)
"Quarterly Exploration Report", dated 23 July 2020 (Newcrest)
"Further Outstanding Drill Results from Havieron", dated 11 June 2020
(Greatland)
"Exploration Update", dated 11 June 2020 (Newcrest)
"Newcrest Reports Further Outstanding Drill Results at Havieron", dated 30
April 2020 (Greatland)
"Quarterly Exploration Report", dated 30 April 2020 (Newcrest)
"Newcrest Reports Further Outstanding Drill Results at Havieron", dated 11
March 2020 (Greatland)
"Exploration and Guidance Update", dated 11 March 2020 (Newcrest)
"Further Outstanding Drill Results at Havieron", dated 30 January 2020
(Greatland)
"Quarterly Exploration Report", dated 30 January 2020 (Newcrest)
"New Outstanding Drill Results at Havieron Extend the Strike Length of
High-Grade Mineralisation", dated 2 December 2019 (Greatland)
"Exploration Update - Havieron", dated 2 December 2019 (Newcrest)
"Further High-Grade Drilling Results from Newcrest's Campaign at Havieron",
dated 24 October 2019 (Greatland)
"Quarterly Exploration Report - September 2019", dated 24 October 2019
(Newcrest)
"Update on Newcrest Drilling Results at Havieron", dated 10 September 2019
(Greatland)
"Exploration Update - Havieron", dated 10 September 2019 (Newcrest)
"First Results from Newcrest's Drilling Campaign at Havieron", dated 25 July
2019 (Greatland)
"Newcrest Quarterly Exploration Report - June 2019", dated 25 July 2019
(Newcrest)
Information in this announcement has been reviewed and approved by Mr Damien
Stephens, a Member of the Australian Institute of Mining and
Metallurgy (AUSIMM), who has more than 25 years relevant industry
experience. Mr Stephens, an employee of the Company, has sufficient
experience relevant to the style of mineralisation, type of deposit under
consideration, and to the activity which he is undertaking to qualify as a
Competent Person as defined by the 2012 Edition of the Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC
Code) and under the AIM Rules - Note for Mining and Oil & Gas Companies,
which outline standards of disclosure for mineral projects. Mr
Stephens consents to the inclusion in this announcement of the matters based
on this information in the form and context in which it appears. Mr
Stephens confirms that the Company is not aware of any new information or
data that materially affects the information included in the relevant market
announcements, and that the form and context in which the information has been
presented has not been materially modified.
Additional information on the project can be found on the Company's website at
https://greatlandgold.com/projects/havieron/
(https://greatlandgold.com/projects/havieron/)
In addition to this release, a PDF version of this report with supplementary
information can be found at the Company's website:
www.greatlandgold.com/media/jorc (https://greatlandgold.com/media/jorc/)
Notes for Editors:
Greatland Gold plc (AIM:GGP) is a mining development and exploration company
with a focus on precious and base metals. The Company's flagship asset is the
world class Havieron goldcopper deposit in the Paterson region of Western
Australia, discovered by Greatland and presently under development in Joint
Venture with Newcrest Mining Ltd.
Havieron is located approximately 45km east of Newcrest's Telfer gold mine
and, subject to positive decision to mine, will leverage the existing
infrastructure and processing plant to significantly reduce the project's
capital expenditure and carbon impact for a low-risk and lowcost pathway to
development.
Construction of the box cut and decline to develop the Havieron deposit
commenced in February 2021. An extensive growth drilling programme is
presently underway at Havieron with a view to further expanding the
understanding and scale of the ore body.
Greatland has a proven track record of discovery and exploration success. It
is pursuing the next generation of tier-one mineral deposits by applying
advanced exploration techniques in under-explored regions. The Company is
focused on safe, low-risk jurisdictions and is strategically positioned in the
highly prospective Paterson region. Greatland has a total six projects across
Australia with a focus on becoming a multi-commodity mining company of
significant scale.
APPENDIX I
Havieron Project (Greatland Gold plc - Newcrest Joint Venture ): JORC Table 1
Section 1 Sampling Techniques and Data
Criteria Commentary
Sampling techniques Core samples are obtained from core drilling in Proterozoic basement
lithologies. PQ-HQ and NQ diameter core was drilled on a 6m run. Core was cut
using an automated core-cutter and half core sampled at 1m intervals with
breaks for major geological changes. Sampling intervals range from 0.2 - 1.0m.
Cover sequences were not sampled.
Drilling techniques Permian Paterson Formation cover sequence was drilled using mud rotary
drilling. Depths of cover typically observed to approximately 420m vertically
below surface. Steel casing was emplaced to secure the pre-collar.
Core drilling was advanced from the base of the cover sequence with PQ3, HQ3
and NQ2 diameter coring configuration.
Core from inclined drill holes is oriented on 3m and 6m runs using an
electronic core orientation tool (Reflex ACTIII or equivalent). At the end of
each run, the bottom of hole position is marked by the driller, which is later
transferred to the whole drill core run length with a bottom of hole reference
line.
Drill sample recovery Core recovery is systematically recorded from the commencement of coring to
end of hole, by reconciling against driller's depth blocks in each core tray
with data recorded in the database. Drillers depth blocks provided the depth,
interval of core recovered, and interval of core drilled.
Core recoveries were typically 100%, with isolated zones of lower recovery.
Cover sequence drilling by the mud-rotary drilling did not yield recoverable
samples.
Logging Geological logging recorded qualitative descriptions of lithology, alteration,
mineralisation, veining, and structure (for all core drilled - 10,217 m for 21
drill holes, all intersecting mineralisation), including orientation of key
geological features.
Geotechnical measurements were recorded including Rock Quality Designation
(RQD) fracture frequency, solid core recovery and qualitative rock strength
measurements.
Magnetic susceptibility measurements were recorded every metre. The bulk
density of selected drill core intervals was determined at site on whole core
samples.
All geological and geotechnical logging was conducted at the Havieron site.
Digital data logging was captured on diamond drill core intervals only, and
all data validated and stored in an acQuire database.
All drill cores were photographed, prior to cutting and/or sampling the core.
The logging is of sufficient quality to support Mineral Resource estimates.
Sub-sampling techniques and sample preparation Sampling, sample preparation and quality control protocols are considered
appropriate for the material being sampled.
Core was cut and sampled at the Havieron core processing facility. Half core
samples of between 0.2 and 2.0 m were collected in pre-numbered calico bags
and grouped in plastic bags for dispatch to the laboratory. Sample weights
typically varied from 0.5 to 8kg. Sample sizes are considered appropriate for
the style of mineralisation. Drill core samples were freighted by air and road
to the laboratory.
Sample preparation was conducted at the independent ISO17025 accredited
Intertek Laboratory, Perth (Intertek). Samples were dried at 105(o)C, and
crushed to 95% passing 4.75mm, and the split to obtain up to 3kg sub-sample,
which was pulverised (using LM5) to produce a pulped product with the minimum
standard of 95% passing 106μm. Routine grind size analysis is conducted.
Duplicate samples were collected from crush and pulp samples at a rate of
1:20. Duplicate results show an acceptable level of variability for the
material sampled and style of mineralisation.
Periodic size checks (1:20) for crush and pulp samples and sample weights are
provided by the laboratory and recorded in the acQuire database.
Quality of assay data and laboratory tests Assaying of drill core samples was conducted at Intertek. All samples were
assayed for 48 elements using a 4-acid digestion followed by ICP-AES/ICP-MS
determination (method 4A/MS907), which is considered to provide a total assay
for copper. Gold analyses were determined by 50g fire assay with AAS finish
(method FA50N/AA), which is considered to provide a total assay for gold.
Sampling and assaying quality control procedures consisted of inclusion of
certified reference material (CRMs), coarse residue and pulp duplicates with
each batch (at least 1:20).
Assays of quality control samples were compared with reference samples in
acQuire database and verified as acceptable prior to use of data from analysed
batches.
Laboratory quality control data, including laboratory standards, blanks,
duplicates, repeats and grind size results are captured in the acQuire
database and assessed for accuracy and precision for recent data.
Extended quality control programs including pulp samples submitted to an
umpire laboratory and combined with more extensive re-submission programs have
been completed.
Analysis of the available quality control sample assay results indicates that
an acceptable level of accuracy and precision has been achieved and the
database contains no analytical data that has been numerically manipulated.
The assaying techniques and quality control protocols used are considered
appropriate for the data to be used for reporting exploration drilling
results.
Verification of sampling and assaying Sampling intervals defined by the geologist are electronically assigned sample
identification numbers prior to core cutting. Corresponding sample numbers
matching pre-labelled calico bags are assigned to each interval.
All sampling and assay information were stored in a secure acQuire database
with restricted access.
Electronically generated sample submission forms providing the sample
identification number accompany each submission to the laboratory. Assay
results from the laboratory with corresponding sample identification are
loaded directly into the acQuire database.
Assessment of reported significant assay intervals was verified by re-logging
of diamond drill core intervals and assessment of high resolution core
photography. The verification of significant intersections has been completed
by company personnel and the Competent Person/Qualified Person.
No adjustments are made to assay data, and no twinned holes have been
completed.
There are no currently known drilling, sampling, recovery, or other factors
that could materially affect the accuracy or reliability of the data.
Location of data points Drill collar locations were surveyed using a differential GPS with GNSS with a
stated accuracy of +/- 0.5m for all drill holes reported.
Drill rig alignment was attained using an electronic azimuth aligner. Downhole
survey was collected at 6-12m intervals in the cover sequence, and every 6 to
30m in diamond drill core segments of the drill hole using single shot (Axis
Mining Champ Gyro). The single shot surveys have been validated using
continuous survey to surface (Axis Mining Champ) along with a selection of
drill holes re-surveyed by an external survey contactor using a DeviGyro tool
- confirming sufficient accuracy for downhole spatial recording.
A LIDAR survey was completed over the project area in Nov 2019 which was used
to prepare a DEM / topographic model for the project with a spatial accuracy
of +/- 0.1m vertical and +/- 0.3m horizontal. The topography is generally low
relief to flat, elevation within the dune corridors in ranges between 250-265m
Australian Height Datum (AHD) steepening to the southeast. All collar
coordinates are provided in the Geocentric Datum of Australian (GDA20 Zone
51). All relative depth information is reported in AHD +5000m.
Data spacing and distribution Within the South-East Crescent and Breccia zone drill hole spacing ranges from
50 to 100m, to 50 by 50m within the resource extents. Outside the initial
resource boundary drill hole spacing ranges from 50 to 200m in lateral extent
within the breccia zone over an area of ~2km(2). The data spacing is
sufficient to establish the degree of geological and grade continuity.
Significant assay intercepts remain open. Further drilling is required to
determine the extent of currently defined mineralisation. No sample
compositing is applied to samples.
Drilling intersects mineralisation at various angles.
Orientation of data in relation to geological structure Drill holes exploring the extents of the Havieron mineral system intersect
moderately dipping carbonate and siliclastic sedimentary facies, mineralised
breccia and sub-vertical intrusive lithologies. Geological modelling has been
interpreted from historic and Newcrest drill holes.
Variable brecciation, alteration and sulphide mineralisation is observed with
a footprint with dimensions of 650m x 350m trending in a north west
orientation and over 1000m in vertical extent below cover.
The subvertical southeast high grade arcuate crescent sulphide zone has an
average thickness of 20m and has been defined over a strike length of up to
550m and extended to over 700m in vertical extent below cover.
Drilling direction is oriented to intersect the steeply dipping high-grade
sulphide mineralisation zones at an intersection angle of greater than 40
degrees. The drilled length of reported intersections is typically greater
than true width of mineralisation.
Sample security The security of samples is controlled by tracking samples from drill rig to
database.
Drill core was delivered from the drill rig to the Havieron core yard every
shift. On completion of geological and geotechnical logging, core processing
was completed by Newcrest personnel at the Havieron facility.
High resolution core photography and cutting of drill core was undertaken at
the Havieron core processing facilities.
Samples were freighted in sealed bags by air and road to the Laboratory, and
in the custody of Newcrest representatives. Sample numbers are generated
directly from the database. All samples are collected in pre-numbered calico
bags.
Verification of sample numbers and identification is conducted by the
laboratory on receipt of samples, and sample receipt advise issued to
Newcrest.
Details of all sample movement are recorded in a database table. Dates, Hole
ID sample ranges, and the analytical suite requested are recorded with the
dispatch of samples to analytical services. Any discrepancies logged at the
receipt of samples into the analytical services are validated.
Audits or reviews Internal reviews of core handling, sample preparation and assays laboratories
were conducted on a regular basis by both project personnel and owner
representatives.
In the Competent Person's opinion, the sample preparation, security and
analytical procedures are consistent with current industry standards and are
entirely appropriate and acceptable for the styles of mineralisation
identified and will be appropriate for use in the reporting of exploration
results and Mineral Resource estimates. There are no identified drilling,
sampling or recovery factors that materially impact the adequacy and
reliability of the results of the drilling programme in place at the Havieron
Project.
Section 2 Reporting of Exploration Results
Criteria Commentary
Mineral tenement and land tenure status The Havieron Project is entirely contained within mining tenement M45/1287,
which is jointly owned by Greatland Pty Ltd and Newcrest Operations Limited.
Newcrest has entered into a Joint Venture Agreement (effective 30 November
2020) and Farm-In Agreement (effective 12 March 2019) with Greatland Pty Ltd
and Greatland Gold plc. Newcrest is the Manager of the Havieron Project and
holds a 70% interest in the Havieron Project with an option to acquire a
further 5% joint venture interest.
Newcrest and Jamukurnu-Yapalikurnu Aboriginal Corporation (formerly WDLAC) are
parties to an ILUA which relates to the use of native title land for
Newcrest's current operations at Telfer and its activities within a 60km
radius around Telfer and includes its exploration activities at Havieron. The
parties have agreed that the ILUA will apply to any future development
activities by the Joint Venture Participants (Newcrest and Greatland Gold) at
Havieron.
The mining tenement M45/1287 wholly replaces the 12 sub-blocks of exploration
tenement E45/4701 (former part of the exploration tenement on which the
Havieron Project is based) and was granted on 10 September 2020.
Exploration done by other parties Newcrest completed six core holes in the vicinity of the Havieron Project from
1991 to 2003. Greatland Gold completed drill targeting and drilling of nine
Reverse Circulation (RC) drill holes with core tails for a total of
approximately 6,800m in 2018. Results of drilling programs conducted by
Greatland Gold have previously been reported on the Greatland Gold website.
Drilling has defined an intrusion-related mineral system with evidence of
breccia and massive sulphide-hosted higher-grade gold-copper mineralisation.
Geology The Havieron Project is located within the north-western exposure of the
Palaeo-Proterozoic to Neoproterozoic Paterson Orogen (formerly Paterson
Province), 45 km east of Telfer. The Yeneena Supergroup hosts the Havieron
prospect and consists of a 9km thick sequence of marine sedimentary rocks and
is entirely overlain by approximately 420m of Phanerozoic sediments of the
Paterson Formation and Quaternary aeolian sediments.
Gold and copper mineralisation at Havieron consist of breccia, vein and
massive sulphide replacement gold and copper mineralisation typical of
intrusion-related and skarn styles of mineralisation. Mineralisation is hosted
by metasedimentary rocks (meta-sandstones, meta-siltstones and meta-carbonate)
and intrusive rocks of an undetermined age. The main mineral assemblage
contains well developed pyrrhotite-chalcopyrite and pyrite sulphide mineral
assemblages as breccia and vein infill, and massive sulphide lenses. The main
mineralisation event is associated with
amphibole-carbonate-biotite-sericite-chlorite wall rock alteration. Drilling
has partially defined the extents of mineralisation which are observed over
650m by 350m within an arcuate shaped mineralised zone, and to depths of up to
1400m below surface.
Drill hole Information As provided.
Data aggregation methods Significant assay intercepts are reported as (A) length-weighted averages
exceeding 1.0g/t Au greater than or equal to 10m, with a maximum of 5m
consecutive internal dilution; and (B) length-weighted averages exceeding
0.2g/t Au for greater than or equal to 20m, with a maximum of 10m consecutive
internal dilution, and (C) intervals of >30g/t which are greater or equal
to 30 gram metres (Au_ppm x length). No top cuts are applied to intercept
calculations.
Relationship between mineralisation widths and intercept lengths Significant assay intervals reported represent apparent widths. Drilling is
not always perpendicular to the dip of mineralisation and true widths are less
than downhole widths. Estimates of true widths will only be possible when all
results are received, and final geological interpretations have been
completed.
Diagrams As provided.
Balanced reporting This is the twenty-third release of Exploration Results for this project made
by Newcrest. Previous release dates are 25 July 2019, 10 September 2019, 24
October 2019, 2 December 2019, 30 January 2020, 11 March 2020, 30 April 2020,
11 June 2020, 23 July 2020, 10 September 2020, 29 October 2020, 10 December
2020, 28 January 2021, 11 March 2021, 29 April 2021, 10 June 2021, 22 July
2021, 9 September 2021, 28 October 2021, 9 December 2021, 28 January 2022, and
28 April 2022.
Earlier reporting of exploration programs conducted by Newcrest and Greatland
Gold have previously been reported. Exploration drilling programs are ongoing
and further material results will be reported in subsequent Newcrest releases.
Other substantive exploration data Nil
Further work Growth drilling is planned to extend the December 2020 Inferred Mineral
Resource estimate and define the limits of the Havieron mineralised system.
APPENDIX II
Drillhole Data and Au- Cu Significant Intersections
Havieron Project, Paterson Province, Western Australia
Reporting Criteria: Intercepts reported are downhole drill width (not true
width) Au >0.20ppm (0.2g/t Au) and minimum 20m downhole width with maximum
consecutive internal dilution of 10m. Average grades are based on
length-weighting of samples grades. Also highlighted are high grade intervals
of Au >1.0ppm (1g/t Au) and minimum 10m downhole width with maximum
consecutive internal dilution of 5m, and intervals of >30g/t which are
greater or equal to 30 gram metres (Au_ppm x length) are tabled. Gold and
copper grades are reported to two significant figures, the downhole lengths
are rounded to 0.1m which may cause some apparent discrepancies in interval
widths. Samples are from core drilling which is PQ, HQ or NQ in diameter. Core
is photographed and logged by the geology team before being cut. Half core PQ,
HQ and NQ samples are prepared for assay and the remaining material is
retained in the core farm for future reference. Each assay batch is submitted
with duplicates and standards to monitor laboratory quality. Total depth (end
of hole) is rounded to one decimal place for reporting purposes. Collars
denoted with a * show partial results, with further significant assays to be
reported in subsequent exploration updates.
Hole Hole Type Easting (m) Northing (m) RL (m) Total Depth (m) Azimuth Dip From (m) To (m) Interval (m) Au (ppm) Cu (pct) Cut off
HAD055W7 MR-DD 463715 7597341 263 1075.2 47 -56 973.8 1044.7 70.9(+) 2.0 0.11 0.2 g/t Au
incl. 1043.3 1044.7 1.4(+) 45 0.21 30 g.m. Au
HAD055W8 MR-DD 463715 7597341 263 1749.8 47 -56 No Significant Result
HAD055W9 MR-DD 463715 7597341 263 1251.1 47 -56 835.0 924.0 89.0(+) 0.86 0.16 0.2 g/t Au
incl. 841.8 852.4 10.6(+) 1.5 0.41 1.0 g/t Au
incl. 873 883 10(+) 1.7 0.37 1.0 g/t Au
935 985.3 50.3(+) 0.70 0.01 0.2 g/t Au
1009 1100 91(+) 1.7 0.10 0.2 g/t Au
HAD055W10 MR-DD 463715 7597341 263 1249 47 -56 Assays Pending
HAD055W11 MR-DD 463715 7597341 263 1635.9 47 -56 Assays Pending
HAD098W1 MR-DD 463591 7597381 264 1690.7 38 -61 780 829 49 0.23 0.03 0.2 g/t Au
940.1 965.8 25.7 0.98 0.06 0.2 g/t Au
1003 1084.1 81.1 0.39 0.11 0.2 g/t Au
1103.2 1141 37.8 0.30 0.02 0.2 g/t Au
1154.6 1187.6 33 0.96 0.20 0.2 g/t Au
incl. 1175.2 1187.6 12.4 1.9 0.20 1.0 g/t Au
HAD098W2 MR-DD 463591 7597381 264 1748.4 38 -61 Assays Pending
HAD104W2 MR-DD 463522 7597782 257 1754 87 -63 1496 1547 51 1.1 0.07 0.2 g/t Au
HAD104W3 MR-DD 463522 7597782 257 1965 87 -63 Assays Pending
HAD108AW1 MR-DD 463749 7597401 260 1648.3 42 -56 599.7 693 93.3(+) 3.6 0.11 0.2 g/t Au
incl. 618.6 631 12.4(+) 10 0.38 1.0 g/t Au
incl. 623.9 624.9 1.0(+) 78 0.54 30 g.m. Au
incl. 649.5 650.3 0.8(+) 173 0.25 30 g.m. Au
706.3 754.6 48.3(+) 1.4 0.19 0.2 g/t Au
769.1 855.6 86.5(+) 0.72 0.08 0.2 g/t Au
incl. 780.4 794.3 13.9(+) 2.8 0.08 1.0 g/t Au
921.2 965.4 44.2 0.53 0.07 0.2 g/t Au
HAD138AW2 MR-DD 463447 7597869 256 1686.1 76 -56 827 866.3 39.3 0.79 0.07 0.2 g/t Au
HAD141W2^ MR-DD 463361 7597505 263 1906 27 -65 1738 1792.6 54.6 0.71 0.08 0.2 g/t Au
1824.6 1863.6 39.0 2.9 0.15 0.2 g/t Au
incl. 1849.8 1863.6 13.8 7.8 0.15 1.0 g/t Au
HAD145AW2 MR-DD 463201 7597816 256 1277 74 -65 No Significant Result
HAD145AW3 MR-DD 463201 7597816 256 1560.6 74 -65 Assays Pending
HAD145AW4 MR-DD 463201 7597816 256 1912.7 74 -65 1645.0 1765.1 120.1 0.39 0.18 0.2
incl. 1727.0 1739.0 12.0 1.2 0.28 1.0
1787 1814.8 27.8 0.38 0.03 0.2
1854 1908.0 54.0 3.8 0.02 0.2
incl. 1854.0 1873.6 19.6 9.9 0.02 1.0
Incl. 1855.7 1856.9 1.2 75 0.02 30 g.m. Au
HAD152W1 MR-DD 463402 7597058 254 1911.8 29 -62 1634.6 1724 89.4 0.65 0.21 0.2 g/t Au
incl. 1703.3 1714 10.7 2.2 0.55 1.0 g/t Au
1735.4 1799 63.6 0.91 0.08 0.2 g/t Au
incl. 1755.9 1766 10.1 4.3 0.17 1.0 g/t Au
1829.2 1911.5 82.3 1.7 0.96 0.2 g/t Au
incl. 1853.1 1869 15.9 1.9 1.6 1.0 g/t Au
HAD152W2 MR-DD 463402 7597058 254 1898 29 -62 Assays Pending
HAD153 MR-DD 464786 7598418 269 1647.8 201 -60 1577.1 1622 44.9 2.5 0.14 0.2 g/t Au
Incl. 1585 1610 25 4.1 0.09 1.0 g/t Au
HAD153W1 MR-DD 464786 7598418 269 1691 201 -60 Assays Pending
(#)drilling in progress. **partial intercept, assays pending. ^updated
intercept. ^^previously reported intercept.
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