Greatland Gold posts solid drilling results from Havieron

(Sharecast News) - Precious and base metals exploration and development company Greatland Gold updated the market on Newcrest's drilling campaign at Greatland's Havieron deposit in the Paterson region of Western Australia on Thursday.
The AIM-traded firm said activities had focused on an infill drilling programme to support the estimation of an initial inferred mineral resource from the south east crescent and adjacent breccia, expected in the December quarter, together with step-out drilling to define the extents and growth potential of the Havieron mineralised system.

Drilling since May 2019 outlined an ovoid shaped zone of variable brecciation, alteration and sulphide mineralisation with dimensions of 650 metres by 350 metres, trending in a north west orientation.

Breccia mineralisation was initially identified internal to the crescent sulphide zone, but most recently was also recognised external to the crescent sulphide zone on the east, north-west and south-east.

At this stage, Greatland said exploration had identified four key target regions, being the south east crescent and breccia, the north west crescent, northern breccia, and eastern breccia.

It said the latest drilling results returned the best intercept to date at Havieron from infill drilling at the south east crescent zone, being 120.7 metres at 9.3 grams of gold per tonne and 0.18% copper from 1349.3 metres, including 26.6 metres at 34 grams of gold per tonne and 0.23% copper from 1384.4 metres.

At the new eastern breccia zone, Greatland said a potential new fourth target area, the 'eastern breccia', was identified by growth drilling from two drill holes, including 342.2 metres at two grams of gold per tonne and 0.11% copper from 1536.8 metres.

The board said that the new eastern breccia highlighted the potential for a new region of breccia development not previously recognised, and extended mineralisation externally to the ovoid-shaped crescent sulphide zone.

Greatland said the initial mineral resource was on track, with the results from infill drilling supporting the estimation of an initial inferred mineral resource for Havieron in the December quarter from the south east crescent and adjacent breccia mineralisation.

"We are delighted by the latest set of excellent drilling results at Havieron, including the best intercept at the project to date, which further reinforce the potential for a bulk tonnage mining operation at Havieron," said chief executive officer Gervaise Heddle.

"Exploration at Havieron has now identified four key target regions, including the new eastern breccia, which was identified by two of the step-out drill holes reported today.

"Importantly, the footprint of Havieron continues to expand and breccia mineralisation has now been identified outside of the ovoid-shaped crescent sulphide zone to the east, north-west and south-east."

Heddle said that, as Newcrest's growth drilling programme further expanded the footprint of the mineralised system at Havieron, infill drilling had continued in order to support the estimation of an initial inferred mineral resource from the south east crescent and adjacent breccia mineralisation.

"We look forward to the delivery of the initial inferred mineral resource from this zone before the end of the year, as further drilling continues to define the full extent of the Havieron system."

At the close on Thursday, shares in Greatland Gold were up 3.19% at 24.25p.