Greatland Gold provides Havieron growth drilling update

Highlights

• Six drill rigs currently operational after the Christmas shutdown, all focused on growth programmes targeting.
  • Eastern Breccia: defining the mineralised footprint of the Eastern Breccia, focusing on extending the higher-grade mineralisation which remains open in all directions.
  • South East Crescent: targeting extensions to the SE Crescent below the updated mineral resource in addition to lateral extensions adjacent to the existing high-grade resource.
  • Northern Breccia: delineating existing high-grade mineralised zones within the Northern Breccia and Northwest Pod (NW Pod).
  • New targets: drilling of targets identified outside of the immediate vicinity of the Havieron deposit, but within the Havieron joint venture (JV) area has commenced.
• High grade result in the NW Pod on the northwest margin of the Havieron Breccia system confirms the potential for further high-grade sulfide mineralisation outside the SE Crescent Zone:
  • HAD089W4: 52.7 m at 7.1 g/t gold (Au) and 0.04% copper (Cu) or 7.2 g/t gold equivalent (AuEq) from 1074 m.
• Drilling into the Eastern Breccia returns a broad zone of mineralisation on the southern flank of the recently announced initial mineral resource of 14 million t at 1.2 g/t Au and 0.09% Cu or 1.3 g/t AuEq in the Eastern Breccia:
  • HAD145A: 70.2 m at 0.82 g/t Au and 0.22% Cu or 1.15 g/t AuEq from 1654.8 m.
• Northern Breccia drilling continues to assess the extents of higher-grade mineralisation within the core of the Havieron Breccia, with results in HAD145A intersecting a zone of copper dominant sulfide mineralisation that is currently open at depth:
  • HAD145A: 69 m at 0.72 g/t Au and 1.1% Cu or 2.37 g/t AuEq from 1300 m.
  • Including a higher grade zone of 31.7 m at 1.16g/t Au and 1.6% Cu or 3.56 g/t Au Eq from 1311.5 m.
• Early works advancing: Construction activities are progressing well with achievements including (as of 25 February 2022):
  • Box cut and portal completed in May 2021.
  • Exploration decline has advanced 296 m.
  • First ventilation shaft blind boring has commenced.
  • 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 are ongoing.
• Feasibility study progressing: Feasibility study work by Newcrest continuing along with concurrent studies assessing broader growth options for Havieron. 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. The feasibility study is still forecasted to be delivered in the December 2022 quarter.

Shaun Day, CEO of Greatland Gold plc, commented: “The ramp up of the 2022 growth drill programme is an exciting time for Greatland and its shareholders as it presents an opportunity to further understand the size and scale of the Havieron system.

“This growth drilling programme is already delivering pleasing results with high-grade sulfide mineralisation confirmed in the NW Pod, several hundred meters away from the South East Crescent and Eastern Breccia zones. This, along with a continuation of the high-grade mineralisation outside of the recently updated initial mineral resource for the Eastern Breccia is a fantastic start to the calendar year.

“Additionally, we are encouraged by the higher grade copper results we are seeing near the base of the Northern Breccia.

“With five drill rigs testing extensions to the current mineralised system and a further drill rig testing for new opportunities on the mining licence outside of the immediate known mineralisation, the 2022 drilling programme lays the foundation for defining the next phase of Havieron’s growth.”

Read the article online at: https://www.globalminingreview.com/exploration-development/11032022/greatland-gold-provides-havieron-growth-drilling-update/