Greatland Gold finds high mineral grades at Havieron project

Greatland Gold has reported high grade mineralised extensions across all tested target zones at the Havieron gold-copper project in the Paterson region of Western Australia.

Managing Director Shaun Day said while 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," he said. 

In the March 3 update, Greatland announced a mineral resource, including ore reserves, of 5.5mn oz Au and 218kt Cu or 6.5M oz AuEq, an increase of 2.1mn oz Au Eq since the last update.

Drilling into the Eastern Breccia returned an intercept approximately 100m to the north of previously reported high grade mineralisation (HAD104), and 100m east of the Eastern Breccia Resource outlined in the Updated Mineral Resource.

​​​​​​​Seven drills are currently operational and drilling is continuing to target geophysical trends outside the main Havieron system. 

The Havieron Project is currently in development under a Joint Venture with Newcrest Mining, Australia's largest gold producer.

Newcrest has advised the development of the exploration decline experienced poor ground conditions in the March 2022 quarter. Advance rates were significantly impacted by unfavourable geotechnical and hydrogeological conditions requiring extensive local and surface dewatering, pre-excavation ground treatment and substantial ground support installation.

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 second half of FY24.

Feasibility Study work by Newcrest is progressing and key contracts have been awarded, and the study is still forecasted to be delivered in the December 2022 quarter.

Results from Greatland Gold's 2021 drilling campaign at its 100% owned Scallywag licence show gold mineralisation has been intercepted in four of the seven holes reported. Its 2022 exploration drill programme is designed to test ground EM conductors at Pearl, Swan and Swan East.