Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
As the takeover entered its final stages, Newmont’s Colorado HQ told its exploration team in Australia to begin shutting down some exploration projects to make way for projects Newcrest would be bringing to the enlarged combination.
Tom Palmer Interview
It will take a little longer with the promised optimisation of the combined entity’s portfolio of operating assets and potential projects. Palmer has promised to generate $US2 billion in cash proceeds from this process, but he says there’s no rush to put assets on the sale block.
“We’ve got the time and space to do that in a thoughtful, considered way.”
ernest giles drilling results
in october 2016, greatland announced that drilling had commencedat its ernest giles project in western australia. the programmeincluded plans for approximately 6,000 metres of reverse circulation (rc) drilling on a wide-spaced grid pattern, to follow up on previous drilling and soil sampling that identified gold, ****nic and antimony anomalies, and to identify targets for follow up exploration. greatland recently released the results of the drilling which have identified two large zones of gold mineralisation and which suggest that greatland has discovered a gold district in this virtually unexplored region. the majority of the rc holes drilled intersected mineralisation. several intersected wide zones of anomalous gold mineralisation and the cover sequence was shallower than expected, with shallowest intercept of 119m, but generally around 180m depending on location. we believe that this is a significant step in a systematic exploration campaign of this very promising buried greenstone discovery. greatland is preparing to drill at the empress gold target.
Gold major Newmont has abandoned its exploration partnership with Greatland Gold at the Ernest Giles project in Western Australia to focus on activities in other districts.
The two companies made an agreement in May 2017 allowing Newmont access to the project for the purposes of conducting a survey using its proprietary deep sensing geochemistry (DSG) technology to identify gold anomalies and other lithological trends.
Although Newmont has decided not to proceed further (the company’s right of first refusal has already expired), Greatland still plans to make use of the DSG survey results, which have identified large gold anomalies of five by 1.5km close to Greatland’s previous drill sites. The company expects to commence target exploration by the end of the first quarter of 2018.
Greatland chief executive officer Gervaise Heddle thanked Newmont for its efforts despite the parting of ways.
“The collaboration between Newmont and Greatland has successfully defined several additional gold anomalies, and we would like to thank Newmont for their efforts,” he said.
“The results of their survey have enhanced our understanding of the project and identified multiple new targets for further exploration work, reinforcing our view that the Ernest Giles project has the potential to host several multi-million-ounce gold deposits.”
The Ernest Giles project has returned upwards of two grams of gold per tonne from early drilling, and Heddle remains enthusiastic.
Recent surveys and exploration at Ernest Giles
The initial drill programmes at the project included the wildcat drilling and detailed airborne geophysics, which identified gold mineralisation and a huge alteration system.
A comprehensive airborne survey was conducted in May 2017 over the northern sequences and the Ernest Giles East Block. The survey was conducted in a 600km² area covering an 80km-long north-south trending sequence of rocks that represents a continuation of the gold prospective greenstone sequence.
The company completed an extensive ground gravity survey, in June 2017, over parts of the Western licences including the Empress, Wishbone, and the greater Meadows area. Based on the results of the survey and the airborne magnetics, a number of additional targets were identified, which are conducive to gold mineralisation.
Greatland completed initial works such as broadly spaced ground gravity and first pass Mobile Metal Ion (MMI) sampling over the Eastern block in September 2017. MMI sampling outlined multiple gold anomalies over approximately 60km of strike, with the majority of them presented as clusters of elevated responses over several adjoining east-west sample traverses.
Most of the anomalies extended over a strike length of more than 9km and up to 3km width. They are situated subparallel to the regional geological strike or as an integral part of cross-cutting structures, highlighting demagnetisation of bedrock geology.
Ocated in central Western Australia, the Ernest Giles project covers an area of more than 2,000km², including more than 230km of strike of gold and nickel prospective rocks. Numerous successful exploration discoveries such as the Tropicana deposit of AngloGold, and Yamarna/Gruyere of Gold Road Resources originated from the region.
Greatland Gold applied for a new exploration licence to expand its landholding at the Ernest Giles gold project to more than 2,000km on 16 October 2017. If approved, the licence will increase the size of Eastern blocks to approximately 800km², including a 90km-long north-south trending sequence of rocks.
Precious and base metals exploration and development company Greatland Gold a is the project developer, which believes that the deposit hosts 5Moz in addition to clusters of camp-type gold discoveries.
Exploration agreement with Newmont
Greatland Gold entered an agreement with Newmont Mining’s subsidiary Newmont Exploration in May 2017, allowing the latter to access the tenements and exploration database of the project for a period of six months.
“The Ernest Giles project tenements comprise Archean greenstone belts hosting linear, strong magnetic lithologies.”
Newmont also gains the right of first refusal if Greatland proposes to sell or enter a joint venture for the project, as part of the agreement. It will apply certain proprietary exploration methods at the project to identify large gold systems lying underneath.
Geology and mineralisation
The project is spread over two buried Archean greenstone belts, a part of the eastern Yilgarn Craton, which hosts a number of gold deposits such as Wiluna, Leonora, Kalgoorlie, St Ives, and Norseman, along with Mt Keith, Leinster, and Kambalda nickel sulphide deposits.
The Ernest Giles project tenements comprise Archean greenstone belts hosting linear, strong magnetic lithologies. The greenstone sequence contains both disseminated and massive nickel-sulphide mineralisation and is overlain by approximately 10m of desert sands along with more than 50m of fine-grained Proterozoic sediments.
The Carnegie target of the project resembles both the geophysical signature and size of the Nova nickel deposit.
Drilling at the Carnegie target commenced in the second quarter of 2015, which identified the presence of mafic intrusive rocks displaying high frequencies of haematite and magnetite alteration.
Details of RC drilling programme
In 2016, Greatland Gold conducted a comprehensive RC drilling programme, which included 23 holes to a depth of 5,581m at the Meadows in the south-eastern portion of the project. Of the 23 holes drilled, mineralisation was observed in 13 holes with most of them exhibiting gold anomalous zones of more than 10m with a maximum grade of 0.78g/t gold.
The programme identified two large zones of mineralisation at Meadows, namely the Western (6km x 1.5km) and the Eastern (2km x 1.5km).
cont.......
The proposed scheme of arrangement under which Newcrest will be acquired by Newmont Corporation (via its subsidiary, Newmont Overseas Holdings Pty Ltd) has been implemented today.
Delisting of Newcrest
Trading in Newcrest shares on the ASX, PNGX and TSX was suspended at the close of trading on 26 October 2023. Newcrest intends to apply for the termination of the official quotation of Newcrest shares on the ASX with effect from close of trading on 7 November 2023 (AEDT). Newcrest has applied for termination of the official quotation of Newcrest shares on PNGX and TSX with effect from close of trading on 7 November 2023 (AEDT) and 6 November 2023 (Eastern Time) respectively.
Should be an NEM announcement tonight
https://www.asx.com.au/markets/company/nem
This is 360 degree turn . Its similar to us getting Havieron from pacific trends resources which is now (F.L.Y.N.N gold) =
five diggers holding 138,981,150 GGP shares all linked
Sam Garrett
Clive Duncan ------------------- Not to be confused with Clive Dunn
"Permission to speak sir"
"Don't panic"
"They don't like it up 'em!"
Highlights – Glenburgh Gold Project:
Resource extension drilling at the high-grade Zone 126 gold deposit has returned:
12.0m @ 4.40g/t gold from 157.0m, incl. 5.0m @ 9.10g/t, and;
4.0m @ 6.0g/t gold from 191.0m, incl. 1.0m @ 20.80g/t (GRC22002)
6.0m @ 6.40g/t gold from 145.0m (GRC22003)
13.0m @ 5.33g/t gold from 137.0m, incl. 5.0m @ 8.70g/t (23GBRC003)
Highlights – Egerton Gold Project:
Exploration drilling at the Hibernian West target, located 0.5km west along-strike from the 27,000oz Hibernian gold deposit has returned:
4.0m @ 91.91g/t gold from 36m, incl. 1.0m @ 363.00g/t (MERC083)
Exploration drilling at the Mako target, located 2.8km east along-strike from the 27,000oz Hibernian gold deposit has returned:
17.0m @ 5.85g/t gold from 36m, incl. 2.0m @ 19.58g/t (MERC092)
Greatland Gold plc (AIM:GGP) (Greatland or the Company) is pleased to announce that it has lodged applications for new exploration licences covering 126km2 of tenure at Yannarie within the Gascoyne, to the south of the Pilbara. The ground was identified by a Greatland prospectivity study covering the Pilbara and surrounding areas, and is considered prospective for Havieron and Telfer style precious and base metals deposits.
Tom Palmer Interview
It will take a little longer with the promised optimisation of the combined entity’s portfolio of operating assets and potential projects. Palmer has promised to generate $US2 billion in cash proceeds from this process, but he says there’s no rush to put assets on the sale block.
“We’ve got the time and space to do that in a thoughtful, considered way.”
As the takeover entered its final stages, Newmont’s Colorado HQ told its exploration team in Australia to begin shutting down some exploration projects to make way for projects Newcrest would be bringing to the enlarged combination.
As the takeover entered its final stages, Newmont’s Colorado HQ told its exploration team in Australia to begin shutting down some exploration projects to make way for projects Newcrest would be bringing to the enlarged combination.
Up 38% in about 2 days
A big-end-of-town mining takeover is usually followed by the casting off of assets that have become non-core to the enlarged bidder.
It doesn’t mean that there is anything wrong with the assets. It is just that they are not as important as they were in the pre-bid days.
Garimpeiro’s interest in all that is what it can mean for fleet-of-foot junior explorers in the know. It can be feasting time for them as they feed on the discards.
https://www.heraldsun.com.au/business/stockhead/barry-fitzgerald-treks-turned-to-gold-now-will-all-its-christmas-creeks-come-at-once/news-story/090fb8f6b3242c942d2c33269f600a3a
Thank you bamps
I just feel we need to speed up the time taken from the completed drilling to the results 13 to 16 weeks is almost double the average time it should take but do take onboard that there will be more than just the basic results in the RNS.