RE: In the news29 Jun 2018 15:49
Paterson heats up (again):
As mentioned here previously, the broader industry is also waiting on confirmation by Rio Tinto that it has made a sizeable copper discovery in the sand dunes of WA’s remote Paterson province.
Confirmation of the discovery, indicated by satellite imagery to be 120km north-north-west of Newcrest’s gold-copper mine, would fire-up interest in a bunch of juniors that have tenements elsewhere along the Paterson belt.
Having said that, interest in the Paterson has stretched in recent days all the way to London’s AIM market where active Paterson explorer Greatland Gold plc is listed.
It shares have surged 170% to 191 pence since June 21. The first leg-up came from news its field crew had recovered “multiple pieces of gold” as the company put it, where nuggets would have done, from surface sampling at the Black Hills project, 30km east of Newcrest’s Telfer.
A second leg up for Greatland came this week with the release of assay results from the adjacent Havieron prospect. It was a 121m intersection from 497m grading 2.93g/tonne gold and 0.23% copper, including 11.5m at 21.23 g/tonne and 0.67% copper from 568.5m and 0.5m grading a bonanza 137g/tonne gold and 1.8% copper from 573m, which got punters in the old dart excited.
Havieron was drilled by Newcrest between 1991-2003 but high grade hits weren’t part of the story back then.
Havieron sits in the south-east of a structural corridor which runs all the way up to, and beyond, the site of the rumoured Rio copper discovery in the north-west. And while the rocks being tested at Havieron are deep, that’s not the case elsewhere in the corridor.
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