TIDMGGP
RNS Number : 9835B
Greatland Gold PLC
17 February 2022
17 February 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK MARKET ABUSE REGULATIONS. ON PUBLICATION OF THIS
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Greatland Gold plc
("Greatland" or "the Company")
Update re Havieron gold-copper project
Greatland Gold plc (AIM:GGP) a mining development and
exploration company with a focus on tier-one gold-copper deposits
provides an update on the Havieron gold-copper project in the
Paterson region of Western Australia.
The Company notes the release of an ASX announcement titled
"Annual Mineral Resources and Ore Reserves Statement" by Newcrest
Mining Ltd ("Newcrest") earlier today, which provided an annual
statement of Newcrest's Resources and Reserves.
Greatland notes that this statement, so far as it relates to
Havieron, only restates the previously released statement contained
within the Stage 1 South East Crescent Pre-Feasibility Study
("PFS"), announced on 12 October 2021. The Company reiterates this
Stage 1 study was at a 'point in time' using a 5 February 2021
cut-off for drilling information.
In the approximately 11 months since this drilling cut-off date,
the Havieron JV and the Company has consistently announced
excellent drill results which are not incorporated in today's
release by Newcrest. Other recent highlights include:
-- Drilling results since the release of the PFS continue to
support the potential for resource expansion at Havieron with
90,000 metres of growth drilling targeted to be completed during
Newcrest's FY22 to 30 June 2022;
-- Potential for an upgrade of a significant portion of the
Inferred Mineral Resource estimate to an Indicated Mineral Resource
estimate;
-- Infill drilling of a further 38,088 metres completed since 5
February 2021 to 31 December 2021 within the South East Crescent
Zone validating both geological and grade continuity of the Mineral
Resource estimate;
-- Growth drilling to over 250m below the existing Mineral
Resource estimate continued to return high grade results with the
South-East Crescent Sulphide zone at depth now having a vertical
extent of over 900m;
-- The most significant result at Havieron outside of the South
East Crescent Zone was announced in January 2022 and confirmed the
potential for high grade mineralisation within the separate Eastern
Breccia trending corridor;
-- Growth drilling of 21,182 metres completed since 5 February
2021 to 31 December 2021, includes testing of new geophysical
targets 2km outside of the Havieron system and multiple high grade
targets including the Northern Breccia and North West Pod; and
-- Feasibility Study is progressing and forecasted to be
delivered in the December 2022 quarter.
Newcrest provided an update with respect to the advancement of
the decline with 277 metres complete as at 25 January 2022.
Newcrest noted that the advancement of the decline has been
impacted with more challenging ground conditions than expected and
geotechnical investigation indicates that ground conditions may
continue to have an impact on development. Further updates will be
provided once this work is complete.
In parallel, and further to its update on 21 December 2021, the
Company has continued discussions with Newcrest regarding the
potential exercise of Newcrest's option to acquire an additional 5%
interest in the Havieron JV
from Greatland. An update will be provided as and when appropriate.
Shaun Day, Chief Executive Officer of Greatland Gold plc,
commented: "When reflecting on the volume and quality of drilling
data since the cut-off date for the PFS, the results are
outstanding and continue to support the potential for a significant
upgrade of the Mineral Resource.
"The growth drilling programme has demonstrated the potential
for resource additions outside of the existing Inferred Mineral
Resource limits. With drill rigs in 2022 all focused on growth
targets, including new targets outside the known Havieron system,
there is ongoing progress and genuine interest in understanding the
size and scale of Havieron.
" Over the last year our belief has strengthened that the PFS
only revealed the tip of the iceberg for Havieron's potential and
that this world class asset is a globally unique opportunity for
bringing a low risk, low capex tier-one gold-copper mine into
production . "
Enquiries:
Greatland Gold PLC +44 (0)20 3709 4900
Shaun Day info@greatlandgold.com
www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated
Adviser)
Andrew Emmott/James Keeshan +44 (0)20 3368 3550
Berenberg (Joint Corporate Broker and Financial
Adviser)
Matthew Armitt/ Varun Talwar/ Detlir Elezi +44 (0)20 3207 7800
Canaccord Genuity (Joint Corporate Broker
and Financial Adviser)
James Asensio/Patrick Dolaghan +44 (0)20 7523 8000
Hannam & Partners (Joint Corporate Broker
and Financial Adviser)
Andrew Chubb/Matt Hasson/Jay Ashfield +44 (0)20 7907 8500
SI Capital Limited (Joint Broker)
Nick Emerson/Alan Gunn +44 (0)14 8341 3500
Luther Pendragon (Media and Investor Relations)
Harry Chathli/Alexis Gore +44 (0)20 7618 9100
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 gold-copper
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-cost pathway to development. An extensive growth drilling
programme is presently underway at Havieron with a maiden
Pre-Feasibility Study released on the South-East crescent on 12
October 2021. Construction of the box cut and decline to develop
the Havieron deposit commenced in February 2021.
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.
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