(Alliance News) - Greatland Gold PLC on Thursday provided a promising update on mineral resource estimates for its Haveiron gold-copper project.
The Western Australia-focused exploration and development company said that estimated mineral resources increased to 8.4 million ounces of gold equivalent, up 29% from Greatland's 2022 estimates.
The company also reported a 28% increase in total gold content to 7.0 million ounces.
Haveiron, Greatland's "flagship gold-copper project", is a joint venture between Greatland and Newcrest Operations Ltd, who hold a 30% and 70% interest, respectively.
The resource estimate update included a 32% increase in contained gold equivalent metal in the higher confidence category. This can now be considered in the group's updated ore reserve estimate that will form part of its ongoing feasibility study, expected to be completed in 2024.
Greatland's Managing Director Shaun Day said: This update further demonstrates the quality and scale of Havieron, and the compelling investment proposition for Greatland."
Greatland Gold shares were up 1.7% at 9.13 pence each in London on Thursday morning.
By Hugh Cameron, Alliance News reporter
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Greatland Gold (GGP)