RE: MMR date change11 Mar 2020 07:10
Stage 2 of Farm-in expected to be completed by end of March 2020
Greatland Gold plc (AIM:GGP), the precious and base metals exploration and
development company, is pleased to provide an update on Newcrest's drilling
campaign at Greatland's 100% owned Havieron deposit in the Paterson region of
Western Australia.
Greatland notes the release of an ASX announcement titled "Exploration and
Guidance Update" by Newcrest Mining Ltd ("Newcrest") earlier today.
Highlights
· Drilling at Havieron continues to expand and demonstrate the
continuity of high-grade mineralisation, which now extends over a strike
length of 450m, to vertical depths of 600m and remains open at depth and to
the northwest.
· Results to date support potential for both high-grade selective
and bulk mining methods, which are currently being evaluated.
Best new results:
· HAD022: 142m @ 1.9g/t Au, 0.38% Cu from 534m, including
· 15.7m @ 9.8g/t Au, 0.61% Cu from 572.3m
· HAD042: 124m @ 3.9g/t Au, 0.21% Cu from 734m, including
· 17.3m @ 19g/t Au, 0.62% Cu from 790.7m
· HAD044: 83.3m @ 5.0g/t Au, 1.1% Cu from 489.5m
· HAD049: 82m @ 6.1g/t Au, 0.41% Cu from 461m
Next Steps
· Drilling activity continues to ramp up (eight rigs now
operational) with the aim of delivering a maiden resource in the second half
of calendar year 2020.
· Greatland expects Newcrest to complete Stage 2 of Farm-in by end
of March 2020.
· A number of environmental, geotechnical and metallurgical studies
are continuing in order to support a potential mineral resource estimate, and
future permitting requirements.
· Newcrest is investigating the potential to start an exploration
decline at Havieron by end of calendar year 2020 or early 2021, and the
potential to achieve commercial production within 2-3 years from commencement
of decline.