Member Info for Bamps21

My calculations
I’ve taken into account the Dyke volume.
I’ve taken the high grade out to compensate for the weaker crackle breccia so a 0.75g/t I believe is reasonable.
The calc silicate widths across the ore body are greater than the top ovoid widths by at least 50%.
My lower ovoid assumptions are based on my progressive theories that have gradually become a reality.
As the bulk mining progresses the weaker grade are at the top so the average grades at the top will diminish over time.
Weak grades will collapse down when bulk mining into the drawbells, tests will be carried out some will go to the waste rock dumps not to tailings.
I’ve not taken out the recovery factors as their will be different % for different grades and bismuth content,
So my totals will need to be reduced by 10-25% depending at what time and grades they are processing.

Top ovoid
Area 176,000sqm
900m deep
Sg 2.7
Grade 0.75
= 10.3m oz

Lower ovoid
Area 1200x800m = 754,000sqm
Sg 2.7
Grade 0.75
= 19.6m oz
Total 10.3m + 19.6m = 29.9m oz

Lower Ovoid
At 1g/t
=26.9m oz
Total 10.3+ 26.9 = 37.2m oz

Possibility of achieving another 600m depth
= additional 29.4m oz @ 0.75g/t
Or
= additional 39.3m oz @ 1g/t

Summarising my recalcs
Taken mainly from the isometric view on page 7
https://greatlandgold.com/wp-content/uploads/2022/03/20220310-GGP-Havieron-Exploration-Update-with-images.pdf

The top ovoid has been described as having a length of 650 and width 350m, the shape of this has not been static and is not a perfect oval shape.
The latest sections show it thinning in the centre, to explain this if you hold a plastic cup upside down and press your thumb in on one side that would describe what is happening.
The calc silicate boundary or edge of breccia has expanded dramatically and is more prominent on the NW end a lot further away from the northern pod than first assumed. The size looks to be 900x 400m. These calc silicates are very weak and progressively weaker towards the boundary.
I’ve seen no reason to change the overall dimensions of the top ovoid at this time or my assumption of 0.75g/t average grade throughout, using the high grade to counteract the weaker crackle.

The lower ovoid is what’s changing my assumptions.
Each progressive results have enhanced my theory of a lower ovoid, this time and January’s have grown this ovoid assumption.
The incline of the Dyke is following the intrusions eastwards expanding the length of the top ovoid lower down and the lower ovoid.
The sulphide intrusion in the south is inclining southwards expanding the length and width.
The star of the show has to be the eastern breccia, expanding E,N and NW. It’s trend Northwestwards is expanding the length and its boundary is still open.

What we don’t know at present is how weak those calc silicates are but they will more than likely go down with the rest of the ore while bulk mining.
I would put these in the same category as the Telfer extensions at the moment. These were discounted at an early stage as being uneconomic but now being considered due to price rises.

We don’t yet know if the breccia pipe keeps going down vertically or stems from the Dyke area but it looks vertical at the moment especially with the diorites in the centre.

Overall I would say a realistic sum is 25-30m oz plus copper plus a hopeful depth below what we have but 50m is a distinct possibility

Shaun told me some months ago in an email that the Sustainability Report will allow some funds to be able to invest

That’s a great first release of Greatlands Sustainability Report. The first steps.
I would like to see a bigger goal of 35% renewables and more foresight of plans in the next one.
That core tray looks really interesting, I can’t pick out what hole it came from it’s down at around 1450m. It’s not hole 82 as one mark suggests.
You can see how varied the geology is down there, a geologists dream, it could be from the SE crescent.
Good to see they have their own geologists studying these cores.

First release onwards and upwards
(or should that be downwards in our case :))

Hi Redtrader
Why Had 029?
That finished in the crescent barely touching the top of the Eastern crescent, another 100m and they may have found the EB then.
https://greatlandgold.com/wp-content/uploads/2020/03/20200311-GGP-Announcement-Havieron-Update.pdf
Page 7 bottom right

The Telfer tailings will be mixed with cement to form a paste to backfill it’s underground workings and the stopes at Havieron.
Before the paste is used as backfill in the stopes a 300mm layer of waste rock is placed on the floor, this forms a weak barrier when the stope below is excavated. The waste rock should go down with the stope below leaving the solid paste fill in place.
Always a use for waste rock.
There are I believe 6 waste rock mounds at Telfer which have been landscaped with one still being filled. When Telfer is depleted they probably will start backfilling the open cut with Havieron waste rock.
Cadia had a problem with its tailings dam and the mining stopped for a while in 2019 until they decided to start backfilling the mine

Hi Bigfigure
What you are asking is a huge capex cost.
You can see the tailings lake at Telfer from space satellites it’s enormous, where would they put a new one at Havieron or Minyari beats me.
Dam management and waste rock management are huge costs.
Telfer dismantling will also be a huge cost.
The whole scheme of things with Havieron and the speed it’s going is to keep the Telfer plant operational. It makes no sense to dismantle it and reinstatement to scar another area and have more costs when that’s finished.

The gas main finishes at Telfer so that would have to be extended.
Additional transport costs shipping the condensate and gold Dore to their destinations.

Is you study the NCM sustainability reports you will find plans to move away from diesel.
Most major miners are in transition towards electric and hydrogen trucks.
Fortesque have plans to supply Germany with 30% of its green hydrogen gas needs from renewables.
Rio, NCM, BHP all have different ambitions at the moment but all moving away from fossil fuels.

We are expecting Ggp sustainability report soon .

Any new find around Telfer will be separated on its own train in the plant.
At the moment apart from Havieron there isn’t another big enough orebody around Telfer to warrant its own train.
By the time Havieron gets going Telfer maybe depleted

Hi Trippy
Yes it’s a good discovery but the high grade is very bitty which is why I searched for the dilution factor.
I suppose that will come with a PFS or the Scoping plan they’re proceeding with.
They still need to do an Environmental assessment plan which could be expensive before mining.
A long way off if they are going to process it themselves and that is what is suggested

Some notes I made while reading through these results:-

Going to process themselves.
No NSR values
No dilution factors for waste
Recovery factors from 2017
Economic valuation to be assessed.
Copper and cobalt by product economics to be assessed
250% increase from 2017 figures
Recovery factors from oxides not sulphides
Downplayed Havieron oz /m to make theirs look good ( took theirs to 300m depth compared to Havieron 1000m depth. Havieron 300m depth 10,000oz/m)

Hi Robert when someone posts disinformation like that you/I have to speak out against it.
They want to spread doubts i peoples minds so if can’t counteract his arguments then you should filter I won’t let him get away with it.

Ah Biggles the capex conspiracy again, how many times is it now.
The capex costs will not cost Ggp $2bn we only have a third or a quarter of that cost.
Secondly most of the capex is used to get the SE crescent infrastructure completed.
That is the infrastructure will be in place before the block caving commences and paid for.
Thirdly the cost of the SE crescent infrastructure will be paid for from the high grades in the top zones.

Biggles nice try but must do better

Well said Ben :))

Hi Speedie
If your grandkids are anything like mine they would sell your shares and spend it all.
My dear old mum always kept a plaque on the wall
saying “ I am quite happy spending my kids inheritance “ and she did :))

Hi Ggpt
I disagree with you I found him unhelpful and miss informed. Shouting at me in Bold text calling me all sorts of things.
I don’t need those sorts of people who just regurgitate RNSs without thinking what’s in them.
He’s only posting published sources I’ve no time for him

Hi Eric
I tried posting on that board, but was drowned out by an idiot shouting in his posts. Accused me of everything cos I didn’t post on Hotcopper.
Cashed in my small sum and put in here.

Hi Ben
At last you’ve seen the light :))
Roll on when that dreaded percentage is done and dusted.
Sorry my pet hate

Last night results came and I started reading about the Bruce Jack mine. I haven’t seen fan drilling before I’ve read about it, when you get 5 minutes take a look it’s quite striking must have cost a fortune, no wonder the AISC are high.
It’s as if the previous owners didn’t have the technology to find targets and fanned out there drilling.
The number of duds were also quite striking.
What made me look twice was an included intercept (remember what I’ve told you before ignore intercepts when looking at drill logs), 1m @7,400g/t. That’s quite astounding but look at the intercept it’s in 28.5m @ 265g/t, if that 1m wasn’t there that 265 would be down to the single figures. Other included high figures are the same just a small % of the run.

Not much unusual about this as it happens in most results but look at Havieron logs and look for included figures, most are about 25-30% of the drill run with modest high grades. Raising averages over the whole intercept length and not just in a blip.

BruceJack and Red Chris are going to raise NCM production rates over the next few years whilst new phases for Lihir and Cadia kick in .
There are a number of targets at BJ and RC they are spread out, the high grade zones are in isolated pockets.
BJ is a gold mine I didn’t see mention of any other mineral but not really looked, but the economic cut off is 1g/t so in those logs anything below 1 has been omitted. Probably because there’s no copper credits.
It’s only 5-600m deep from surface, so the tonnage is spread out which is also the case at Red Chris.
Spread out means more dilution.

Havieron is compact “a beautiful vertical ore body”
The high grade pods are relatively close together.
Suitable for an eventual bulk mining operation, ie lower costs and higher grades than open pit controllable waste.
The ore grades are far more consistent, easier to process.
The minerals for profits are the right way round
Gold foremost, then copper and hopefully silver cobalt and anything else

BJ - gold
RC - copper gold silver

In conclusion for me , I feel my investment is in the best place.

I shall be glad when this 5% is out the way, which either way it turns out.
The 25% of a globally important mine is far far better to have than a 100% of “we know there’s something down there”

In real terms Ggp have not paid out a lot until recently to have all this information, what is it now 5 years from acquisition.
This is super speed to a gold mine just hang on in there

Morning Tig hope you enjoyed last night, sorry to have missed it :((

The light bulb moment seemed to hit Bottle Rocket last night, referring to the shape of Havieron to be like an upturned light bulb.

I had every confidence in my research that there was a lower ovoid a lot greater in size and that was nearly 12 months ago . That took some convincing to get over.
From the sections it’s very plain to see now my assumptions are coming true.
You can see now the drill results from last night are still only tickling the surface of the Eastern Breccia .
My best take on last night was drill 93 with 252m around 1g/t, this within the ovoid it should eventually lift average grades higher.
The high grade pods within the Eastern breccia are quite stunning.
The drill density in the Eastern breccia will result in varying reporting from the 2 companies, for example the higher zone shown on Ggp MRE is not evident on NCM schematics but NCMs look deeper.

The overall size of the Eastern breccia has still not reached where I think it will eventually end up, look at the schematic on page 8
https://greatlandgold.com/wp-content/uploads/2022/04/20220428-GGP-Havieron-Exploration-Update-with-images-vF.pdf
Look at those red intercepts to the bottom right there not shown within the orebody at the moment.
The drill intercept on Had90 is still way lower than 104 and further out. The Dyke is around these positions lower down.

The SE crescent sections clearly shows the Dyke sloping away to the east and the high grade zones following it.
You can clearly see the cemented breccia intrusion feeding the northern corridor from the EB.

The sections clearly show now my assumptions of the cemented breccia intrusion coming from the EB faultline and the sulphides intrusion coming from the SE crescent fault line( same fault but different locations.
I consider this to be multiple intrusions coming up into one pipe .

I agree with Paddy this is Massive :))

This plan shows the area in question
https://greatlandgold.com/wp-content/uploads/2020/12/20201210_Havieron-Iniital-Resource-JORC.pdf
Page 10