Greatland Gold provides Havieron exploration and development update

Highlights

• Seven drill rigs currently operational, all focused on growth targeting:
  • Eastern Breccia: defining the mineralised footprint and extensions of the Eastern Breccia including definition of higher-grade zones identified in HAD104 and the new intersection in HAD145W1.
  • South East Crescent: targeting extensions to the South East Crescent below the updated mineral resource in addition to lateral extensions adjacent to the existing high-grade updated mineral resource.
  • Northern Breccia: expansion of high-grade mineralised zones within the Northern Breccia.
  • North West Pod: expansion of high-grade mineralised zones within the North West Pod.
  • New Targets: drilling is continuing to target geophysical targets outside of the main Havieron system.

New drilling results

• Drilling into the Eastern Breccia returned an intercept approximately 100 m to the north of previously reported high grade mineralisation (HAD104), and 100 m east of the Eastern Breccia resource outlined in the updated mineral resource. This hole reinforces the potential for the north west trending Eastern Breccia corridor to host Crescent style high grade mineralisation:
  • HAD145AW1 returned 150.1 m at 3.7g/t gold (Au) and 0.15% copper (Cu), or 3.95 g/t gold equivalent (AuEq) from 1827.9 m.
    • Including 42.3 m at 8.6 g/t Au and 0.4% Cu, or 9.26 g/t AuEq from 1854 m.
• High grade results in the Northern Breccia reinforce the potential for further high-grade sulfide mineralisation outside the SE Crescent Zone:
  • HAD085W6 intersected 52m at 3 g/t Au and 0.09% Cu, or 3.14 g/t AuEq from 1327 m.
    • Including 17.9 m at 7.7g/t Au and 0.07% Cu ,or 7.8 g/t AuEq from 1361.1 m within the footprint of the updated mineral resource.
• Early works advancing: Construction activities by Newcrest are progressing including:
  • Exploration decline has advanced 313 m as at 20 April 2022.
    • Changes in the design of the decline have brought forward the first downward spiral to the current chainage which will allow the decline to transition into better ground conditions sooner. As a result of this change, development rates are expected to improve in the June 2022 quarter. Newcrest advise that first ore is now expected in the 2H FY24.
  • Drilling of the blind bore ventilation shaft is now complete, and liners have been installed to design depth. This milestone successfully marks a significant reduction in risk to construction.
    • Drilling of the blind bore ventilation shaft is now complete and liners have been installed to design depth. This milestone successfully marks a significant reduction in risk to construction.
• Feasibility study work by Newcrest is progressing and key contracts have been awarded. The feasibility study is still forecasted to be delivered in the December 2022 quarter.

Shaun Day, Managing Director of Greatland Gold plc, commented: “The early results from the 2022 growth drilling programme are tremendous with high grade mineralised extensions identified across all tested target zones.

“Whilst growth drilling at the Eastern Breccia continues to define the mineralised footprint and extensions of the Breccia, a new high grade intercept has reinforced the potential for the Eastern Breccia corridor to host Crescent style high grade mineralisation. This demonstrates the ongoing potential for the expansion of the Havieron footprint below and adjacent to the existing mineralisation.

“With ongoing drilling focusing on growth there is substantial potential to further demonstrate the depths and extents of the high-grade mineralisation, that remain open along strike and at depth at Havieron.”

Significant new results

Intercepts are reported as downhole width not true width.

Eastern Breccia

• HAD093A
  • 76.7 m at 1.9 g/t Au and 0.07% Cu from 1306.1 m.
    • Including 18.2 m at 3.7 g/t Au and 0.17% Cu from 1347.8 m.
• HAD145AW1
  • 59.2 m at 0.91 g/t Au and 0.14% Cu from 1633 m.
  • 32.9 m at 1.5 g/t Au and 0.63% Cu from 1730.4 m.
  • 150.1 m at 3.7 g/t Au and 0.15% Cu from 1827.9 m.
    • Including 42.3 m at 8.6 g/t Au and 0.4% Cu from 1854 m.
• HAD152
  • 63 m at 0.98 g/t Au and 0.13% Cu from 1767 m.

South East Crescent

• HAD133W6
  • 173.2 m at 1.9 g/t Au and 0.18% Cu from 1424.6 m.
    • Including 43.1 m at 3.7 g/t Au and 0.34% Cu from 1425.9 m.

Northern Breccia

• HAD085W6
  • 64.4 m at 2.1 g/t Au and 0.06% Cu from 1174.3 m.
    • Including 23.7 m at 5.3 g/t Au and 0.1% Cu from 1199.6 m.
  • 52 m at 3 g/t Au and 0.09% Cu from 1327 m.
    • Including 17.9 m at 7.7 g/t Au and 0.07% Cu from 1361.1 m.
• HAD093A
  • 273.6 m at 1.1 g/t Au and 0.14% Cu from 886.6 m.

Read the article online at: https://www.globalminingreview.com/exploration-development/28042022/greatland-gold-provides-havieron-exploration-and-development-update/