Member Info for Bamps21

https://greatlandgold.com/wp-content/uploads/2021/09/20210909-GGP-Announcement-Havieron-Exploration-Update-jorc-1.pdf
Drill 89W3 is another one but finishes around the north west end where there is only a slight bump.
Shown on page 13 bottom left
Plan of it on page 11

https://greatlandgold.com/wp-content/uploads/2021/07/210722-GGP-Announcement-Havieron-Exploration-Update-JORC.pdf
Plan on page 11 top left, shows a red intercept way out where it says S2 on drill 136W1.

Page 13 shows 136W1 disappearing behind a banner :((

136W1 last intercept is 1,290m vertical depth, so it starts at around 870m depth of ore.
This is similar depths of the start of the Eastern breccia.

Hi TT
It won’t be shallow I’ve suspected for sometime it may be connected to the Eastern breccia. Only 1 or 2 drills have gone anywhere near it.
The sections of it are always hidden behind the banners but there is one will try and find it.
Oh no another conspiracy theory:))

The Northern corridor was always open to the NW it’s never really been closed off.
It would be good to get this end defined or does it continue towards Lake Havieron and is it connected to the Zipa/Apollo geology.

I would also hope they continue drilling around Zipa this time to the NW of the last hole and not eastwards. This might not happen could be waiting for Artemis results.

Drill testing of Meca might be interesting.

It will be interesting to find out what the 3 step out drills were targeting
HAD 153 and 155 were not very deep drills 800m and 600m roughly, 153 was shown drawn twice as long as the log length so was that testing the ground? 155 looks as though it just punched through the cover testing the Dyke position.
154 across the south side of the ore body was also drawn twice as long as the log length so again testing ground conditions maybe but was slightly deeper around 1,000m vertical depth.

152 is a very long assay pending drill over 2,000m in length targeting the Eastern Breccia from the southwest through the central northern corridor high grade pods. It passes through a high grade pod in the EB and carries on out.
Had93a follows a similar path to 152 but is about 500m shorter but targeting the same pods as 152 and finishes in the high grade EB pod
The end of Had145a is also in assay called 145aW1 this targeting the Eastern breccia
145a finished just outside the sulphide ring, whereas 145aW1 carries on for 350m from the ring in the EB

Shaun said in London they were bringing back rigs after the wet season, so the drill count is back up to 8-9 rigs

Hi Gogreen
The PFS is historical, a better view of what the FS will contain will be the Ggp MRE, which is why it was issued.
The difficulty with including the Eastern breccia though is the drill density is minimal and may not conform to Jorc rules for a feasibility study.
Also a mining plan would not be complete for the Eastern breccia so that also might exclude it.

The high grade zones below the SE crescent MRE should be included as this is where all the hold ups have been for the information, they keep finding better stuff deeper and want to include as much as possible of it in the FS .
The depth there is the problem.

The Feasibility Study will only be for the SE crescent and parts of the Northern corridor and Eastern breccia.
It can’t take in the bulk caving operation there is not enough detail.
Most of the information for the FS came before 12th December 2021, there’s not much infilling information after that.

Future feasibility studies will occur in the future for the bulk mining operations.

Getting through this soft ground in the Decline is a time consuming operation and not just because of only being able to excavate 0.5m to 1m at a time.

I will try and give you a snap shot of the works as I see it:-
Jumbo driller moves in to drill horizontally into the face and in at an angle to both sides and the roof.
Jumbo reverses out.
The resin machinery is brought in and resin pumped into the face to make it go hard.
Reinforcement bars are inserted into the angled holes to the sides and roof.
Resin is pumped in around these bars to hold them in place and excess cut off.
Resin machinery removed.
360 excavator brought in to excavate and scarify the face back another 0.5-1m, then drags the excess muck away from the face whilst forming a water barrier and sump for the pump.
The 360 excavator reverses out
The bogger goes in and picks up the excess muck and loads truck.
The bogger reverses out.
The grader goes in and flattens out the rutted floor to the Decline and backs out.
Mesh is attached the reinforcement bars.
Shotcrete machinery and is brought in to spray the 0.5-1m open face.
Water still being pumped out
Shotcrete machinery removed.
The Decline position and cut needs to be checked and marked on the face for the next cut.

Start again next shift.

What good would more men do, they would just be in the way.

When the ground gets harder the operations will be similar except the resin won’t be needed and rock bolts will be used instead of reinforcement bars.
The open face would then be 4-6m per shift and more stockpile side tunnels for the machinery to be stored without having to back out.

I find these Sandeep conspiracy theories all too much I’m despairing if it all. It’s no wonder this boards going quieter, I can’t be the only one.

I’ve said before we are in the realms of big business now we have to look away from AIM and learn how they think.

When this Joint Venture started this was NCM state of play
Lihir was having trouble with their ore and a section had to be temporarily halted until a solution found.
Severe disruption.
Cadia was in decline and going into a transition with a new zone opening up to full capacity in 2025.
Wolfi government permissions hold ups causing big delays.
Telfer was due to finish in 2023 but with the gold price rising new phases were now economic taking the pressure off Havieron.

There was a certain need for something else and along came the Red Chris JV and then came the other acquisition.
This pushed Havieron down the importance list.

Conglomerates move within their own realms and occasionally think of others.

They are still powering on at Havieron but the Decline issues are causing a blip.
Would I invest any new money in NCM , Rio or BHP it has to be Rio for the dividends, why would you put it in NCM, they’re having a blip and are buying themselves out of it. Not a good time to invest with them.
Anyway I don’t buy into this conspiracy theories at all and I think I will have to stop reading the board for a while

In London Shaun stated that Newcrest were looking at using 40ton Volvo trucks instead of the Sandvik 65 ton trucks.
https://www.smt.network/gb/machines-attachments/new-machine/volvo-a40g/

Those 2 trucks in the photo though look like 65 tonners
The Volvo trucks would be more manageable down the Decline

Hi Bellers
It would just fit under the Clifton Suspension Bridge :))

This is from my post 5th February describing NCM mining plan
“ The 4.5g/t equivalent is the average grade from the PFS for the whole stoping operation for the sulphides.
The top stope in the first mining front is where HAD005 went through and I worked out the average was 8.22g/t gold and 3% copper , so your initial monthly revenues are way low.
The 3rd front however has weak grades and then the 4th front level is higher than the 1st level.

This first 2m initial ore production looks very exciting and as I’ve mentioned could pay the whole capex of the mine including SLOS and bulk caving”
This is for the Ggp plan of 70m deep.

It’s a bit different now from Ggp mining plan
Top level is now only 30m deep
Capex was about $10m for a 120m deep level from the Decline, so capex now will a lot lower for 30m depth. ($2-3m ?)
Where HAD005 went through sizes approximately 50x75m x 30m deep @ say 5g/t = 55,000 oz
This is for 1 stope tunnel maybe 2 not the whole Western front.

Ggp 25% around $16m for gold after deducting costs
Just for that sulphide zone

Copper grades average 3%
Copper works out at $20m for Ggp

Total $36m for a portion of that 1st Western Front level for less than $10m capex

Grades further down and to the east are lower but around the fourth level are higher than the first level.

When you look at NCM quarterly accounts they’re not using the average AISC on their target zones they’re using an average for those 3 months in question and then average the quarters.

https://www.newcrest.com/sites/default/files/2022-01/220128_Newcrest%20December%20Quarterly%20Report.pdf
Telfer page 6

My calcs on first ore must be taken in complete isolation from the rest of the SE crescent.
The AISC for this first zone will be very low maybe less than $100
As more production phases open up the average AISC costs will kick in but be erratic to start with.
They are targeting a 70m deep zone split into 2 levels of about 30m.
The top 30m contains the first section of HAD005 one of our best holes.
There’s some phenomenal gold and copper grades
within it.
I used an average of 3% copper but some sections contain 8 and 10% grades which may lift that average.
With those high grades it suggests most of this ore is Chalcopyrites and maybe bornite, these have specific gravities of 4.1 and 5. This means the ore is denser , and this in turn means more minerals per 1m cube volume.
This in turn means more tonnage from the volume of ore produced.
Less ore to produce 1oz gold and copper tonnage.

Actual Capex required from the Decline to this zone could be in the single million dollars.

Transport costs to get it out will also be less than further down due to the travel distance, but more trucks will be required to get the increase in tonnage out of the mine.

This is what could be happening by the time they reach First Ore in increasing numbers when the Decline gets into hard rock
Plant list
Development drills 5 no DD 421
Production drills. 2 no DL431
Production drills. 4 no DL421
Boggers. 8no LH621
65ton trucks. 10 no TH663

Once we get passed the first spiral ring there’s an opportunity for one more Development Drill and then after the 4th spiral ring another one a slow build up to start accelerating the Decline with more gangs and machinery when all this soft stuff out the way.

Well you’ve now seen 2 of those trucks out of 10 :))

Hi Bellers
Look behind the store cabins 2 big mine trucks, gearing up a bit :))

Hi Lenz
Well done

Hi Speedie
Lenz just gave me this, wondered what you make of it
https://www.reuters.com/article/lme-precious/update-1-lme-to-scrap-gold-and-silver-futures-by-july-due-to-thin-activity-idUSL2N2WK1EW

Hi Ben
I don’t believe we will have a fund raise, Shaun says he has had numerous term sheets drop on his desk.
That doesn’t mean there won’t be a fundraise, if an Institution comes knocking on the door and saying “we want to buy in but the quantities are not available “ what would you all do in that position, I personally would snap their hands off and take their cash. Save on any debt.
I would hope if they do issue shares like that, we could also participate but that might not happen

Hi Mr EMC
It wasn’t a mistake by NCM in not drilling Havieron deep enough in the 1990s the drilling techniques couldn’t get through the cover sequences to warrant going deeper just at the time when the price of gold hit rock bottom.
The report suggested searching for shallower cheaper targets on PRE and Blackhills and Swan but didn’t find anything shallow enough