Closely followed gold miner Greatland Gold LON:GGP has issued an exploration and development update for Havieron, its flagship gold-copper project located in the Paterson Province of Western Australia. The miner reported that significant progress continues with a total decline development now exceeding 2,025m including over 1,600m of advance in the main access decline (as at 19 April 2023).
Drilling continues to intersect high grade gold and copper mineralisation within the SE Crescent Resource and outside the current Mineral Resource at Greatland Gold’s Eastern Breccia target. Recent results include 54m @ 8.5g/t Au & 0.32% Cu from 1,421m at SE Crescent and 31.1m @ 4.9 g/t Au & 0.13 % Cu from 1,635m at the Eastern Breccia target.
The Juri Joint Venture is a farm-in and joint venture agreement with Greatland with respect to the Black Hills and Paterson Range East projects, located within the Paterson Province approximately 50km from the Telfer operation and in proximity to the Havieron Project. The joint venture covers an area of approximately 248 sq km. Greatland Gold currently has a 49% participating interest in the Juri Joint Venture and is manager.
Under the terms of the agreement, Newcrest has the potential to earn an additional 24% joint venture interest through expenditure of a further A$17 million by October 2024. Field activities were paused over the summer months in Australia with ongoing target generation and project review activities conducted.The Juri joint venture partners are now working together to confirm a programme for the year ahead, Greatland confirmed this morning.
The main decline continues to progress ahead of the current schedule, having surpassed 1,600m. Decline support excavations for ventilation, services and materials handling takes the total development to over 2,025m. Further to advanced preparation by the site team, Cyclone Ilsa was safely navigated and the impact on site activity minimised, Greatland Gold said this morning.
Drilling activities at Havieron have progressed on schedule with three drill rigs operating and four holes completed for a total of 4,550m. This most recent drilling takes the total at the project to 335 holes for 298,428m.
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The current growth drilling campaign is now complete with the results to support ongoing Mineral Resource assessment. Drilling which is currently focused on targeting the lower SE Crescent zone is expected to be completed in the June 2023 quarter. It is also expected that subsequent drilling will take advantage of underground drilling platforms once appropriate access is established.
Greatland Gold assay results
Assay results have been received for six new drill holes along with final assays for lower priority areas from two previously reported drill holes. Of these results, three holes within the SE Crescent and one within the Eastern Breccia returned significant assay intercepts in excess of 50-gram metres of gold (Au ppm x length).
Greatland Managing Director, Shaun Day, said decline development is continuing in line with the schedule. “Our most recent drilling activities highlight the high grade nature of the SE Crescent zone,” he said. “In addition, drilling has delivered high grade intercepts outside of the present Havieron mine plan, including additional gold and copper mineralisation intersected at the northern limits of Eastern Breccia zone.”
