RE: GGP27 Jun 2018 10:01
26 Jun '18 - 17:13 - 1070 of 1130
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Exploration / Development > Discovery 25 June 2018 C
Kristie Batten In Perth
The first hole returned 121m at 2.93 grams per tonne gold and 0.23% copper from 497m, including 11.5m at 21.23gpt gold and 0.67% copper.
Results also included bonanza-grade intervals of 0.5m at 137.69gpt gold and 1.8% copper from 573m, and 0.5m at 100.15gpt gold and 4.1% copper from 575.5m.
The company said elevated gold and copper results at the end of the hole suggested the mineralisation continued at depth.
Results for the remaining three holes of the program are due in the coming weeks.
Greatland CEO Gervaise Heddle said the company was delighted with the exceptional first results. "We believe that these results begin to demonstrate the large scale of Havieron and the potential for Havieron to host zones of high-grade gold and copper," he said. "Momentum is building up for us as we see positive results from our stated strategy of focusing and progressing with our target projects."
Today's news comes only days after Greatland discovered multiple gold nuggets at Black Hills, the tenement adjacent to Havieron. The two prospects, plus the Paterson Range East licence, make up Greatland's Paterson project, covering more than 385sq.km of the Paterson Province.
The project sits 40km east of Newcrest Mining's Telfer operation and the company once held the project in the 1990s. Newcrest drilled six holes at Havieron in the 1990s, with all hitting gold and copper anomalism with peak grades of 15.4gpt gold and 2.5% copper.
The Paterson Province has become Australia's hottest exploration address this year.
There have been rumours that Rio Tinto has made a major copper discovery in the area, and has recently expanded its landholding in the region from 1,000sq.km to 9,000sq.km.
The talk has boosted Antipa Minerals, Rio's partner in the region via a A$65 million farm-in, and Sipa Resources, also active in the area.
"We're pretty interested in what [Rio] is up to," Sipa managing director Lynda Burnett told the Resources Rising Stars conference last month.
"It's going to be a pretty interesting field season."
Antipa MD Roger Mason told the AMEC Convention this month that the company's ground was now surrounded by majors Rio, Newcrest and Fortescue Metals Group.
"It's recently become keenly sought-after," he said.
"The province remains largely underexplored."
London-based Greatland has three other WA projects and two in Tasmania. Newmont Mining did some work on the Ernest Giles project in the Yilgarn region, but withdrew in January.
Greatland shares opened 14.5% higher in London. The company has a market capitalisation of about £39 million.
http://www.mining-journal.com/discovery/news/1341038/exceptional-gold-hits-in-the-paterson-province
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