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Drilling campaign starts under the Juri JV

22 Apr 2021 08:14

RNS Number : 2899W
Greatland Gold PLC
22 April 2021
 

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22 April 2021

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

Greatland Gold plc

("Greatland" or "the Company")

 

Greatland commences drilling campaign under Juri JV with Newcrest

 

Drill programme underway with focus on high-priority targets within the Paterson Range East licence including Goliath, Los Diablos and Outamind

 

Further to the announcement of 23 February 2021 Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, is pleased to announce the commencement of drilling under the Juri Joint Venture ("Juri JV") with partner Newcrest Mining Limited ("Newcrest"). The Juri JV is in the highly prospective Paterson province of Western Australia and these activities mark the start of the work programme.

 

Highlights of Exploration Activities for the Juri JV

· Drilling of high-priority targets has commenced across the Paterson Range East licence, starting at Goliath.

· Drill camp and infrastructure have been established with field activities underway.

· Ground electromagnetic ("EM") surveys to be conducted in the coming weeks to better define priority drill targets.

· All heritage clearances and government approvals received ahead of commencing drilling campaign.

The Paterson Range East licence lies approximately 25 kilometres north of the Company's Havieron gold-copper project and covers 224 square kilometres of Proterozoic basement rocks prospective for Havieron style gold-copper mineralisation.

 

Under the Farm-In announced on 30 November 2020, Newcrest has the right to earn up to a 75% interest in the licences covering the Juri JV by spending up to A$20m as part of a two stage Farm-In over five years. Greatland is currently the manager of the Juri JV.

 

Shaun Day, Chief Executive Officer of Greatland Gold plc, commented: 

 

"It is very pleasing to announce the commencement of our maiden drilling campaign under our second joint venture with Newcrest in the Paterson region.

 

Six months ago, we entered the Juri JV to accelerate Greatland's exploration activity and maximise the value of the Paterson Range East and Black Hills licences. The start of this programme is an important step towards achieving that goal. 

 

Our geology team has identified a set of high-priority targets to be drilled across this programme that display many similar geophysical characteristics to the Havieron gold-copper deposit. With the drill rig now on site, and all necessary camp infrastructure safely established, drilling has commenced at a large 'bulls-eye' magnetic anomaly known as Goliath.

 

The Juri JV campaign forms part of Greatland's multifaceted exploration strategy for 2021 in the highly prospective Paterson region. This work complements the substantial progress at Havieron, where an ongoing 65,000 metre growth drilling programme is presently underway, together with exploration activities at our 100% licences across the region."

 

Further information on the Juri JV

 

The Juri JV comprises the Paterson Range East and Black Hills licences covering an area of approximately 249 square kilometres in the Paterson region of north-western Australia. The Farm-In commenced on 29 November 2020. Newcrest has the right to earn up to a 75% interest in the licences by spending up to A$20m as part of a two-stage Farm-In over five years. Stage 1 minimum commitment by Newcrest is A$3m within 24 months of commencement, and Stage 2 contemplates an additional A$17m over a further three years (total A$20m over five years). Newcrest currently hold a 25% interest in the JV.

 

Greatland is the manager of the Juri JV. Newcrest has the right, but not the obligation, to be appointed manager from 1 January 2022.

 

Exploration work at the Juri JV licences is focussed on the discovery of intrusion related gold-copper deposits similar to Havieron, Telfer and Winu.

 

The 2021 Work Programme for the Juri JV will include the following activities as agreed by the Juri JV partners:

· Drill testing of several high-priority targets across the Paterson Range East licence, including Goliath, Outamind and Los Diablos.

· Drill testing of the Parlay target, a discrete magnetic anomaly with coincident gravity response in the south-west of the Black Hills licence.

· Ground EM surveys to better define and prioritise multiple additional targets throughout Paterson Range East and Black Hills licences.

All heritage clearances and government approvals have been received for the current field activities. 

 

Additional information on the Juri JV can be found on the Company's website at https://greatlandgold.com/juri-jv/

 

Enquiries:

 

Greatland Gold PLC

Shaun Day/Callum Baxter

Tel: +44 (0)20 3709 4900

Email: info@greatlandgold.com

www.greatlandgold.com

 

SPARK Advisory Partners Limited (Nominated Adviser)

Andrew Emmott/James Keeshan

Tel: +44 (0)20 3368 3550

 

Berenberg (Joint Corporate Broker and Financial Adviser)

Matthew Armitt/Jennifer Wyllie/Detlir Elezi

Tel: +44 (0)20 3207 7800

 

Hannam & Partners (Joint Corporate Broker and Financial Adviser)

Andrew Chubb/Matt Hasson/Jay Ashfield

Tel: +44 (0)20 7907 8500

 

SI Capital Limited (Joint Broker)

Nick Emerson/Alan Gunn

Tel: +44 (0)14 8341 3500

 

Luther Pendragon (Media and Investor Relations)

Harry Chathli/Alexis Gore/Joe Quinlan

Tel: +44 (0)20 7618 9100

 

 

Notes for Editors:

 

Greatland Gold plc is a London Stock Exchange AIM-listed (AIM:GGP) natural resource exploration and development company with a current focus on precious and base metals.

 

The Company's flagship asset is the world class Havieron gold-copper deposit in the Paterson region of Western Australia. This asset is held in joint venture with Newcrest Mining Ltd. Havieron is located approximately 45km east of Newcrest's Telfer gold mine, processing plant and existing infrastructure.

 

Construction of the box cut and decline to develop the Havieron orebody commenced in February 2021. In addition, a substantial ongoing growth drilling programme is presently underway at Havieron which is being undertaken in conjunction with the preparation of a Pre-Feasibility Study ("PFS"). The PFS is expected to be released in late calendar 2021.

 

The Joint Venture Agreement includes tolling principles reflecting the intention of the parties that, subject to positive decision to mine, the resulting joint venture mineralised material will be processed at Telfer.

 

Greatland is seeking to identify large mineral deposits in areas that have not been subject to extensive exploration previously. It is widely recognised that the next generation of large deposits will come from such under-explored areas and Greatland is applying advanced exploration techniques to investigate a number of carefully selected targets within its focused licence portfolio.

 

The Company is actively investigating a range of new opportunities in Australia for precious and strategic metals.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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DRLUUABRAOUSURR
Date   Source Headline
10th Dec 20207:00 amRNSInitial Mineral Resource Estimate for Havieron
10th Dec 20207:00 amRNSFurther Drilling Results at Havieron
8th Dec 202010:38 amRNSResult of AGM
7th Dec 20202:00 pmRNSPrice Monitoring Extension
30th Nov 20207:00 amRNSTwo JV Agreements and Funding for Havieron
10th Nov 20208:37 amRNSNotice of AGM and Annual Report
9th Nov 20202:06 pmRNSSecond Price Monitoring Extn
9th Nov 20202:01 pmRNSPrice Monitoring Extension
5th Nov 20208:51 amRNSFinal results for the year ended 30 June 2020
2nd Nov 202012:26 pmRNSIssue of shares and total voting rights
29th Oct 20207:00 amRNSPotential New Eastern Breccia Target at Havieron
2nd Oct 20202:05 pmRNSSecond Price Monitoring Extn
2nd Oct 20202:00 pmRNSPrice Monitoring Extension
1st Oct 20203:20 pmRNSIssue of shares and total voting rights
29th Sep 202012:19 pmRNSExercise of Options
28th Sep 20201:16 pmRNSExercise of Options
25th Sep 202011:20 amRNSExercise of Options
24th Sep 20204:35 pmRNSPrice Monitoring Extension
18th Sep 20204:41 pmRNSSecond Price Monitoring Extn
18th Sep 20204:35 pmRNSPrice Monitoring Extension
10th Sep 20208:55 amRNSMining Lease Granted at Havieron
10th Sep 20207:00 amRNSLatest Drilling Results at Havieron
1st Sep 20201:16 pmRNSIssue of shares and total voting rights
27th Aug 202010:35 amRNSAppointment of Auditor
19th Aug 20208:44 amRNSGreatland commences drilling at Scallywag prospect
17th Aug 202010:10 amRNSTR-1: Notification of major holdings
6th Aug 20201:28 pmRNSDirector Dealing
4th Aug 20209:52 amRNSBlock Listing Six Monthly Return
4th Aug 20209:47 amRNSIssue of shares and total voting rights
3rd Aug 202010:45 amRNSApplication for Mining Lease at Havieron
30th Jul 20208:49 amRNSAppointment of Joint Brokers
29th Jul 202010:47 amRNSExercise of Options and Director Dealing - Replace
29th Jul 202010:07 amRNSExercise of Options and Director Dealing
24th Jul 202010:38 amRNSExercise of Options and Director Dealing
23rd Jul 20207:00 amRNSNew Zone of Mineralisation Identified at Havieron
15th Jul 20208:32 amRNSJoint Broker Update
14th Jul 20202:19 pmRNSExtension of Vesting Period of Director Options
2nd Jul 202012:45 pmRNSDirector/PDMR Shareholding
1st Jul 202011:03 amRNSIssue of shares and total voting rights
30th Jun 20209:44 amRNSUpdate on Exploration in the Paterson
16th Jun 20201:57 pmRNSExercise of Options and Director Dealing
11th Jun 20207:00 amRNSFurther Outstanding Drill Results from Havieron
8th Jun 20209:09 amRNSHavieron - Mining Lease application agreements
1st Jun 202012:40 pmRNSIssue of shares and total voting rights
29th May 20204:41 pmRNSSecond Price Monitoring Extn
29th May 20204:35 pmRNSPrice Monitoring Extension
22nd May 202011:03 amRNSExercise of Options
19th May 202011:02 amRNSExercise of Options and Director Dealing
1st May 202012:46 pmRNSIssue of shares and total voting rights
30th Apr 20209:05 amRNSSecond Price Monitoring Extn

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