RE: RNS9 Mar 2020 08:02
Greatland to test multiple, high-priority targets across Paterson region:
o Airborne Electromagnetic ("AEM") survey to commence in early April, covering approximately 1,000 line kilometres across targets on the western portion of the Havieron, Paterson Range East and Black Hills licences
o Drilling at Scallywag to commence by the end of April, to initially focus on three primary targets: Kraken, London and Blackbeard
o Once drilling completed at Scallywag, other high-priority targets to be drill tested at Paterson Range East (including Goliath and Los Diablos) and Black Hills
Gervaise Heddle, Chief Executive Officer, commented: "The first half of the financial year was an exciting period for Greatland, which saw our Havieron project establish itself as a significant gold-copper discovery. During the period, Newcrest completed the first stage of the Farm-in, expanded the camp, accelerated drilling at this highly strategic asset with eight rigs now in operation, and provided plans for a further 20,000-30,000 metres of drilling over the next two quarters to support a potential maiden resource by the end of the calendar year.
"Looking ahead, we will continue to focus on moving our portfolio of assets up the value curve, especially in the Paterson, which we regard as the leading frontier in Australia for the discovery of tier-one, gold-copper deposits. Beyond the exciting progress at Havieron, we have identified over a dozen targets in the region, many of which display similar geophysical signatures to Havieron, and drilling of these targets represents a strategic priority for Greatland in 2020. Our team has spent the last few months planning a comprehensive campaign across these targets and we are well capitalised to make further strong progress throughout the year."
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