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(Alliance News) - Greatland Gold PLC on Thursday said there was potential for further resource growth at its Havieron project, as it continues to receive promising results from the drilling programme.
Greatland Gold is a London-headquartered mining development and exploration company, focused primarily on precious and base metal mining in Western Australia and Tasmania. The Havieron gold-copper deposit, located in Paterson, is the company's flagship project.
Recent results from the growth drilling programme at Havieron showed new high-grade mineralised intercepts in the Northern Breccia target region, and between Eastern Breccia and the South East Crescent.
Greatland Gold said the findings increased the possibility of linking the two zones.
Significant results from two holes drilled at Northern Breccia include 81.3 metres at 3.2 grams a tonne of gold and 0.3% of copper from a depth of 1,357.2 metres.
Development of the exploration decline continued, with 916 metres complete as of October 12. Record daily average rates of advancement were recently achieved, which Greatland Gold attributed to the transition to drill and blasting of the development face.
Work to support the development of the feasibility study also continued. While the study remains in progress, it will now be extended beyond the December 2022 quarter to allow further time to maximise value and de-risk the project.
Further optimisation work is already underway. The company said this would contribute to offsetting "any potential impact of inflation".
""It is particularly pleasing to observe the acceleration in the advancement of the decline, which provides increasing confidence of the project being delivered on schedule. The Havieron feasibility study will be extended with a view to maximise value and further de-risking the project as our understanding of the Havieron orebody continues to evolve," said Managing Director Shaun Day.
"The ongoing drilling programme and advancement of the decline are complemented by Greatland's strengthened balance sheet position and augmented expertise within our board of directors."
Greatland Gold shares were trading flat at 8.30 pence each in London on Thursday morning.
By Holly Beveridge; hollybeveridge@alliancenews.com
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