Greatland Gold delivers ‘significant’ results at Havieron project

Francesca Morgan
Vox Newswire
10:31, 28th January 2022

Greatland Gold (GGP FOLLOW) told investors that it has delivered “most significant” further results at the firm’s Havieron gold-copper project confirming the potential of high grade mineralisation.

CEO, Shaun Day, said today’s results “continue to astound” with the most significant intercept reported to date outside the South East Crescent zone observed at the Eastern Breccia. The Havieron copper-gold project is operated by Newcrest under a JV agreement with Greatland.  

In its latest set of results from Haverion, Greatland Gold, a precious and base metals-focused mining development and exploration firm, said high grade extensions identified to the Eastern Breccia area have now confirmed the potential for a new zone of high grade mineralisation.

The Eastern Breccia area is located several hundred metres away from the South East Crescent zone where most of the drilling activity has occurred to date, Greatland noted.

The Eastern Breccia is now interpreted as a separate north west trending corridor with an alteration footprint of around 600m in strike, with Crescent zone-like higher grades inside.

This new corridor of new high-grade mineralisation is outside of the resource defined during the October 2021 pre-feasibility study and highlights the ongoing journey of understanding the extent of the higher-grade mineralisation which remains open in all directions, it told investors.

Shares in Greatland Gold were trading 1.82% higher today at 13.95p following the news.

GGP price chart

It added that it has observed high grade results and intersections of significant mineralisation at the South East Crescent zone, supporting the upgrade of the Inferred Mineral Resource. 

“With drill rigs all focused on growth targets and decline construction activities operating on a 24hr schedule there is tremendous progress in the development of this world class project and excitement in understanding the size and scale of Havieron,” Day informed investors.

The company said construction activities are “progressing well” and that works to progress the necessary approvals and permits required to commence the development of an operating underground mine and associated infrastructure at the Havieron Project remain ongoing.

Approval for blind boring of the decline vent raise from surface is now in the final stages.

Feasibility study work continues along with concurrent studies assessing broader growth options for Havieron. It explained that upside opportunities are being evaluated to increase the scale and life of Havieron, as well as presenting the opportunity to adopt alternative, lower cost, mining methods and this is still forecasted to be delivered in the December 2022 quarter.

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