Greatland Gold provides activity updates

Exploration update

Greatland has completed drilling on its 100% owned Scallywag tenement. A total of 10 holes were completed for a total of 3241 m drilled, targeting conductors from ground electromagnetic (EM) surveys. Five of these have been surveyed for nearby conductors with downhole EM. The holes are currently being processed and assays will be reported when available in a future release. Downhole EM at the Ramses target was not completed as the drill hole was not structurally accessible.

The previously announced maiden drilling campaign at the Paterson South Project, which is a farm-in and joint venture arrangement with Rio Tinto Exploration (RTX), has been completed. Drilling on the Budjidowns tenement adjoining the Havieron mining lease targeted magnetic anomalies and airborne EM derived conductors with five reverse circulation (RC) holes at the Decka target. A single diamond hole tested the magnetic target at Stingray, following up on anomalous geochemistry identified in a RTX diamond hole. Results from these drill holes will be reported when available.

Field activities at the Juri joint venture (JV) tenure focused on rehabilitation of prior field programmes, ongoing target generation and project review activities during the three months ended 30 June 2023. Newcrest Mining Limited elected to assume management of the Juri JV from 1 July 2023.

As the current surface drilling campaign at Havieron is now complete, Greatland will align with the Havieron JV manager, Newcrest, and transition to quarterly reporting of exploration and development activities at Havieron. Greatland will continue to report periodically on its own ongoing exploration activities.

Havieron development update

The underground development continues to progress with 2510 m completed, including decline support excavations for ventilation, services and materials handling, as at 20 July 2023. The development includes 1776 m of advance in the exploration decline.

The decline has successfully progressed past the middle aquifer, with dewatering rates in line with expectations. This progress is a significant derisking event for the decline development.

Greatland Managing Director, Shaun Day, commented: “We are pleased with the continued underground progress at the Havieron underground with development advancing to 2510 m.

“During the quarter, Greatland progressed an exploration drilling campaign at Scallywag and rapidly mobilised to drill targets at our new Paterson South Project which is a farm-in and JV arrangement with Rio Tinto Exploration. We await the results from these drill programmes and look forward to updating the market in due course as we continue to make good progress across our portfolio of assets.”

Read the article online at: https://www.globalminingreview.com/mining/25072023/greatland-gold-provides-activity-updates/