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Greatland and Newcrest advance to Stage 2 of the Juri JV

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Global Mining Review,

Greatland Gold plc, a leading mining development and exploration company with a focus on precious and base metals, has announced the Juri joint venture (Juri JV) with Newcrest Mining Ltd will advance to Stage 2 which marks an extension and potential acceleration of the Juri JV exploration programme in the highly prospective Paterson province of Western Australia.

Highlights of the Juri JV

  • First phase of Juri JV drilling programme completed on the Paterson Range East and Black Hills tenements.
  • Gold assays from first four assayed holes of Juri JV drill programme found mineralisation at the Saddle Reefs target within the Black Hills licence in an intersection of 3.5 m at 1.88g/t gold Au from 226.5. m and first gold identified at the Goliath Prospect including a significant assay of 1 m @t 1.49 g/t Au from 651 m.
  • Samples from the remaining holes have been delivered to the laboratory and assays are expected to be available around the beginning of November 2021.
  • Ground electro-magnetic (Ground EM) survey is currently underway to further refine and model future Juri JV targets.
  • Investment under the Juri JV could increase from AUS$3 – AUS$20 million.
  • Juri JV 2022 exploration programme expected to include:
    • Drill testing conductors identified in the 2021 Ground EM survey.
    • Drilling other targets not tested in the 2021 programme, including Tara and Tama in Paterson Range East.
    • Follow-up drilling on any results from this year's drilling programme.
  • Greatland will continue in the role of Manager for the Juri JV.

Shaun Day, CEO of Greatland Gold plc, commented: “Advancing to Stage 2 of the Juri JV marks an important step forward which further demonstrates the confidence and financial commitment of our partner Newcrest. This progression follows a successful initial drill programme, where mineralisation was discovered, and additional rich geological information obtained in respect of existing and new targets.

“This additional investment enables Greatland to expand and accelerate the 2022 Juri exploration programme without the need to self-fund this activity. Furthermore, this commitment is evidence of the strength of our relationship with Newcrest and our mutual belief in our partnership to undercover further deposits in the highly prospective Paterson region.

“The Juri JV campaign forms part of Greatland's multifaceted exploration strategy in the highly prospective Paterson region. This work complements the rapid progress at Havieron, with mine development and a growth drilling programme underway; together with exploration activities at our 100% licences across the Paterson district.”

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