Greatland Gold "excited" by new geophysical models for gold and copper at Havieron

Greatland Gold, the precious and base metals exploration and development company, has announced the results of the latest geophysical modelling at its Havieron licence - part of the company’s Paterson Project in Western Australia.

New 3D gravity and magnetic models indicate further potential for mineralisation at Havieron extending from 400m to depths in excess of 1,200m below surface. At these depths the modelling of gravity data has outlined a large irregular shaped body, around 300m across with an overall subvertical attitude.

Further modelling of magnetic data has defined a single, discrete, high amplitude elliptical shaped body steeply dipping (subvertical) toward the south east with a depth extent between 800m and 1,400m below surface. However, the body may continue beyond 1,400m as this is the current limit of data resolution.

Meanwhile, a comparison of 3D gravity and magnetic models shows an approximate 500m vertical and 200m lateral offset between the causative bodies, which could prove important for targeting if Havieron displays affinities with an iron-oxide-copper-gold (IOCG) system.

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Gervaise Heddle, Chief Executive Officer, commented:  "We are very excited by the results of the latest geophysical modelling which suggest that Havieron has the potential to represent a significantly larger mineralised system than we previously expected. Our excellent recent drilling results only tested to approximately 800 metres below surface and elevated gold and copper persisted to the end of several holes, suggesting that mineralisation continues at depth below the current limit of drilling.

“Havieron is a conspicuous ‘bulls-eye’ magnetic anomaly, as seen in airborne data sets. There are more than 20 magnetic anomalies similar to that observed at Havieron within Greatland’s Paterson licences and, in light of the exceptional mineralisation at Havieron, these represent compelling regional exploration targets.”

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The Company’s Paterson project, comprising the Havieron, Black Hills and Paterson Range East licences, is located in the Paterson region of northern Western Australia. The three licences collectively cover more than 385 square km prospective for IOCG type deposits and Telfer-style gold deposits.