Greatland Gold provides Havieron development and exploration update

Highlights

• Further significant results from Growth Drilling under the Crescent Sulfide Zone and around the Northern Breccia continue to support potential for resource expansion.
• HAD133W1 reported 133 m at 7 g/t gold (Au) and 0.05% copper (Cu) from 1446 m, including 55.9 m at 9.7g/t Au and 0.04% Cu from 1449.5 m, from within the South East Crescent, approximately 250m below the base of the initial inferred mineral resource estimate. This intercept at 945 g/m constitutes a top four Havieron intercept.
• Higher grade zones in the Northern Breccia to the north west of the initial inferred mineral resource estimate were returned from:
  • HAD140: 29.1 m at 9.7 g/t Au and 0.29% Cu from 813.2 m.
  • HAD141: 87 m at 1.8 g/t Au and 0.05% Cu from 1328 m including 17.8 m at 5.7g/t Au and 0.14% Cu from 1378.5 m.
• Eastern Breccia extended to over 600 m in strike length.
• Growth Drilling progressing into FY22.
  • A further eight growth drill holes have been completed with samples awaiting assay, anticipated to be received and reported in the next update.
  • These holes are part of the ongoing Growth Drilling programme, targeting:
    • Northern Breccia: Zone of initial focus aimed at providing support for the potential expansion of the existing inferred mineral resource.
    • Eastern Breccia: Drill testing and interpretation of the geological and mineralisation controls.
    • South East Crescent and Breccia: Ongoing targeting of potential resource definition below the existing resource shell and lateral extensions adjacent to the existing high-grade resource shell.
  • 10 infill holes have been completed in the South East Crescent, with samples awaiting assay, anticipated to be received and reported in the next update.
• Early Works advancing: Construction activities are progressing well with achievements including:
  • Exploration decline commenced on 14 May 2021 and has advanced over 120 m.
  • Power station and magazine are operational.
  • Refuelling station and workshop nearing completion.

Best new results (not previously reported)

South East Crescent and Breccia

• HAD133W1: 133 m at 7 g/t Au and 0.05% Cu from 1446 m, including 55.9 m at 9.7 g/t Au and 0.04% Cu from 1449.5 m.

Northern Breccia

• HAD140: 29.1 m at 9.7 g/t Au and 0.29% Cu from 813.2 m.
• HAD141: 87 m at 1.8 g/t Au and 0.05% Cu from 1328m, including 17.8 m at 5.7g/t Au and 0.14% Cu from 1378.5 m.
• HAD057W7:
  • 23 m at 5.7g/t Au and 0.70% Cu from 613 m (South East Crescent), including 15 m at 8.6 g/t Au and 0.96% Cu from 613 m.
  • 70 m at 2.2 g/t Au and 0.03% Cu from 906 m (Northern Breccia), including 12.8 m at 5.3g/t Au and 0.02% Cu from 962.7 m.

Drilling activities since the last update include new results from the Growth Drilling programme, which continue to support the potential for resource expansion of the Havieron gold-copper system.

The latest results comprise assays for 12 new drill holes from the Growth Drilling programme (not previously reported), with six holes returning significant assay intercepts in excess of 100 g/m Au (Au ppm grade x length metres) with HAD133W1 at 133 m at 7 g/t Au and 0.05% Cu for 945 g/m being a top four Havieron intercept, and all holes intersecting mineralisation. A further 18 holes have been completed and await assays, anticipated to be received and reported in the next update.

A total of 194 456 m of drilling from 230 drill holes has been completed since Newcrest commenced exploration activity (excluding holes in progress or drill holes which have not been sampled).

Shaun Day, CEO of Greatland Gold plc, commented: "The Growth Drilling campaign at Havieron continues to deliver excellent results with significant intercepts of high-grade gold and copper outside the existing resource shell. These assay results have once again extended known mineralisation below the main South East Crescent zone and to the north-west in the Northern Breccia, adding further scale and value to the Havieron orebody.

“With nearly 200 000 m of drilling now completed, including extensive Growth Drilling in recent months, we have significantly enhanced our understanding of the orebody and the likelihood of delivering an upgrade to the Mineral Resource Estimate in the near-term.

“Early works for the mine development are progressing to plan with the decline now advanced to over 120 m from the Portal towards the top of the orebody.

“The pace of construction activities and surface infrastructure at Havieron is intended to expedite future mining operations, enabling early free cash flows to be re-invested into further development. This supports our belief that the low-risk profile of Havieron makes it a globally unique opportunity for bringing a tier-one gold-copper mine into production.”

Read the article online at: https://www.globalminingreview.com/exploration-development/13092021/greatland-gold-provides-havieron-development-and-exploration-update/