REG - Greatland Gold PLC - Juri Joint Venture Management Update

Greatland GoldAnnouncement

01/06/2023 07:00

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RNS Number : 3198B  Greatland Gold PLC  01 June 2023

Greatland Gold plc (AIM: GGP)

E: info@greatlandgold.com

W: https://greatlandgold.com

: twitter.com/greatlandgold

 

 

NEWS RELEASE | 1 June
2023

 

 

Juri Joint Venture Management Update

 

Newcrest to become joint venture manager effective 1 July 2023

 

 

Greatland Gold plc (AIM:GGP; Greatland or Company) advises that the management
of the Juri Joint Venture will transfer from Greatland to its joint venture
partner, Newcrest Mining Limited (Newcrest), from 1 July 2023.

The Juri Joint Venture is an unincorporated joint venture between Greatland
(49%) and Newcrest (51%) which was formed in November 2020 to accelerate
exploration at the Paterson Range East and Black Hills exploration licences.
 

Greatland Managing Director, Shaun Day commented:

"Greatland and Newcrest are two of the largest landholders in the Paterson
Province. We welcome Newcrest elevating its engagement and interest in the
Juri Joint Venture property.

Our partnerships at Havieron and Juri are central to unlocking the full
potential of the Paterson Province.  Greatland strongly believes in the
prospectivity of the Juri Joint Venture tenure and will continue to be an
active participant following the upcoming management transition.

The shift of Juri Joint Venture management to Newcrest provides Greatland's
exploration team the opportunity to put greater focus on our 100%-owned
portfolio of highly prospective tenure together with our responsibilities as
the new manager of the farm-in and joint venture arrangement with Rio Tinto
Exploration on the Paterson South Project."

Under the terms of the farm-in and joint venture agreement which governs the
Juri Joint Venture, Newcrest could elect to become the joint venture manager
at any time following an initial period.  Newcrest has now exercised its
right to do so and will assume this responsibility from the beginning of the
2024 financial year.  The transfer of management of the Juri Joint Venture to
Newcrest does not affect any of Greatland's other rights as a joint venture
participant.

Greatland intends to continue as an active and supportive joint venture
participant given the potential for the discovery of new intrusion-related
gold-copper deposits similar to its world class Havieron gold-copper deposit,
Newcrest's Telfer gold-copper mine and Rio Tinto's Winu copper-gold deposit.

Greatland appreciates Newcrest assuming management of the Juri Joint Venture
which will enable the Company to focus its exploration efforts on its broader
portfolio of highly prospective tenure in parallel to supporting Juri Joint
Venture activities.

Contact

For further information, please contact:

Greatland Gold plc

Shaun Day, Managing Director  |  info@greatlandgold.com

 

Nominated Adviser

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 total development now exceeding
2,025m including over 1,600m of advance in the main access decline (as at 19
April 2023).  Havieron is intended to leverage the existing Telfer
infrastructure and processing plant. Access to Telfer will de-risk the
development, reduce capital expenditure and lower the project's carbon
footprint.

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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