Greatland Gold provide Havieron E&D update

Highlights

• Seven drill rigs currently on site, all focused on growth targeting:
  • Eastern Breccia: drilling continuing to expand the mineralised footprint of the Eastern Breccia, including further defining higher-grade zones.
  • South-East Crescent: continuous mineralisation identified across 1000 vertical m and remains open. Drilling continuing to progressively test for extensions to the South-East Crescent, with drilling planned up to 400 m below the updated mineral resource.
  • Northern Breccia: drilling aimed at extending high-grade zones of mineralisation at depth.
  • New Targets: drilling continuing to test geophysical targets outside of the main Havieron system, with follow-up drilling planned at regional targets on the Havieron mining lease.

New drilling results

• Eastern Breccia drilling further highlights the geological continuity of higher grade mineralisation. Recent intercepts reinforce the potential for the Eastern Breccia corridor to host Crescent style high grade mineralisation. The Eastern Breccia remains open at depth:
  • HAD145AW4: 54 m at 3.8 g/t gold (Au) and 0.02% copper (Cu) from 1854 m, including 19.6 m at 9.9 g/t Au and 0.02% Cu from 1854 m.
  • HAD141W2: 39 m at 2.9 g/t Au and 0.15% Cu from 1824.6 m, including 13.8 m at 7.8 g/t Au and 0.15% Cu from 1849.8 m.
  • HAD152W1: 82.3 m at 1.7 g/t Au and 0.96% Cu from 1829.2 m, including 15.9 m at 1.9 g/t Au and 1.6% Cu from 1853.1 m.
  • HAD104W2: 51 m at 1.1 g/t Au and 0.07% Cu from 1496 m.
• South-East Crescent drilling has extended the high grade zone down a further 100 m with Crescent zone having now been continuously intersected to over 1000 vertical m (3800 m RL2) and remaining open at depth:
  • HAD108AW1: 93.3 m at 3.6 g/t Au and 0.11% Cu from 599.7 m, including 12.4m at 10 g/t and 0.38% Cu.
  • HAD153 returned 44.9 m at 2.5 g/t Au and 0.14% Cu from 1577.1 m, including 25 m at 4.1 g/t Au and 0.09% Cu from 1585 m.
• Northern Breccia intersected high grade results to demonstrate the potential for further high grade sulfide mineralisation outside the South-East Crescent Zone:
  • HAD055W7: 70.9 m at 2 g/t Au and 0.11% Cu from 973.8 m, including 1.4 m at 45 g/t Au and 0.21% Cu from 1043.3 m.
  • HAD055W9: 89 m at 0.86 g/t Au and 0.16% Cu from 835 m, including 10 m at 1.7 g/t Au and 0.37% Cu from 873 m.
• Early Works improvements: Construction activities are progressing, including:
  • An exploration decline advance of 489 m as at 13 July 2022.
    • 111.5 m advanced since the last report on 9 June 2022, reflecting the highest daily advancement rate during a single reporting period since commencement of the exploration decline.
  • The infrastructure construction programme to support the early works decline progression is largely complete. Establishment of the site administration facilities, supporting mine and water management infrastructure has been successfully completed.

Poor ground conditions were experienced during the previous quarter, changes in the design of the decline during the quarter brought forward the first downward spiral to the current advance position which has allowed the decline to transition into better ground conditions as forecasted, which accelerated decline advancement rates.

Works are ongoing to progress the necessary approvals and permits required to commence construction of the infrastructure which will support production at Havieron. Newcrest is reviewing the impact of inflationary pressures on future capital expenditure and operating costs as part of the feasibility study, with value engineering and other cost mitigation strategies underway.

The schedule for first ore continues to be reviewed and will be updated with the release of the feasibility study, which remains on track for completion during the December 2022 quarter.

Shaun Day, Managing Director of Greatland Gold plc, commented: “Havieron's extensive growth drilling programme continues to identify and expand high grade extensions to the mineralisation in the Eastern Breccia, South-East Crescent Zone and Northern Breccia.

“Eastern Breccia growth drilling continues to expand and define the mineralised footprint and extensions of the zonation. This Eastern Breccia drilling includes a new northern-most high grade intercept. The observed grade from this drilling reinforces the potential for the Eastern Breccia corridor to host Crescent style high grade mineralisation.

“With seven drill rigs all focusing on growth this demonstrates the ongoing potential for the continued expansion of the Havieron system footprint below and adjacent to the existing resource.

“The observed acceleration of the decline advancement is particularly pleasing. The improved advancement productivity is consistent with the expected improvement of ground conditions with depth.”

Read the article online at: https://www.globalminingreview.com/exploration-development/22072022/greatland-gold-provide-havieron-ed-update/