Last checked at 10 Jun 2021 07:06
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10 June 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")
Further Excellent Growth Drilling Results at Havieron
Potential for resource expansion with significant high-grade depth extension to South East Crescent and additional mineralisation identified in Northern Breccia
Box cut complete and decline development underway
Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, is pleased to provide an update on activities at the Havieron gold-copper project in the Paterson region of Western Australia. The Company notes the release of an ASX announcement titled "Exploration Update" by Newcrest Mining Ltd ("Newcrest") earlier today.
Drilling activities since the last report include new results from the ongoing Growth Drilling programme, which continue to support the potential for resource expansion of the Havieron system.
The latest results consist of seven new drill holes from the Growth Drilling programme. Newcrest has now completed a total of 164,420m of drilling from 190 holes to date, with all the latest holes continuing to intersect significant mineralisation.
Highlights
§ Excellent results from Growth Drilling continue to support the potential for resource expansion within the Havieron gold-copper mineralised system
- High-grade intercepts below the December 2020 Initial Inferred Mineral Resource shell in the South East Crescent Zone and adjacent Breccia Zones, and around the Northern Breccia.
- HAD133 returned 85m @ 11g/t Au & 0.29% Cu from 1345m, including 13m @ 32g/t Au & 0.46% Cu from 1363m, and 14.5m @ 32g/t Au & 0.33% Cu from 1396.5m1.
- High-grade Crescent Zone remains open at depth.
- Additional mineralisation identified in Northern Breccia Zone, highlighting the potential for resource extensions outside the existing resource shell.
§ New drill intercepts from within the 2020 Initial Inferred Mineral Resource shell support geological and grade continuity
- Additional high-grade South East Crescent intercepts from within the December 2020 Initial Mineral Resource.
- These results support the delivery of an Indicated Mineral Resource estimate in the South East Crescent Zone.
§ 2021 Growth Drilling is progressing into FY22
- North West Crescent and Northern Breccia: Growth Drilling continues to focus on the North West Crescent and Northern Breccia zone and aimed at providing support for the potential expansion of the existing Inferred Mineral Resource Estimate.
- Eastern Breccia: Drill testing and interpretation of the geological and mineralisation controls of the Eastern Breccia Zone is ongoing.
- South East Crescent and Breccia: Targeting potential resource definition of extensions below the existing resource shell and lateral extensions adjacent to the existing high-grade resource shell.
- New Targets: New targets outside of the immediate vicinity of the Havieron deposit, but within the Havieron Joint Venture area, have been identified with the potential to conduct drill testing of these targets in the future.
§ Early Works Underway: As previously announced, surface earthworks are largely complete, with the box cut complete and decline development commenced:
- Excavation of the box cut commenced on 8 February 2021.
- Commencement of the underground decline access, from the base of the box cut, was announced on the 12 May 2021.
- The Joint Venture is progressing the necessary approvals and permits for the development of an operating underground mine (subject to a successful exploration program, feasibility studies, market and operating conditions, board approvals and a positive decision to mine).
- Work continues to investigate the potential to achieve commercial production at Havieron within three years of the commencement of the decline.
Best New Results1
South East Crescent and Breccia - Growth Drilling below December 2020 Inferred Mineral Resource Estimate
§ HAD086W1
- 34m @ 3.9g/t Au & 0.28% Cu from 1240m, and
- 99.7m @ 2.5g/t Au and 0.85% Cu from 1308m
- including 50.4m @ 4.3g/t Au & 1.6% Cu from 1313.6m
§ HAD133
- 108.5m @ 1.7 g/t Au and 0.43% Cu from 1221m, and
- 85m @ 11.0 g/t Au and 0.29% Cu from 1345m
- including 13m @ 32g/t Au & 0.46% Cu from 1363m
- and 14.5m @ 32g/t Au & 0.33% Cu from 1396.5m
Northern Breccia - Growth Drilling
§ HAD089W1
- 81.3m @ 1.2g/t Au & 0.04% Cu from 1009.7m
South East Crescent and Breccia - Growth Drilling intercepts from within the 2020 Initial Mineral Resource Estimate shell
§ HAD097W3
- 47.8m @ 2.3g/t Au & 0.28% Cu from 620.2m
- including 28.3m @ 3.8g/t Au & 0.45% Cu from 639.7m
§ HAD136
- 55.2m @ 2.5 g/t Au and 0.65% Cu from 501m
- including 24.5m @ 5.4g/t Au & 0.95% Cu from 506.8m
1. All widths reported here and below are downhole widths, generally greater than true widths.
Shaun Day, Chief Executive Officer of Greatland Gold plc, commented: "These latest drilling results add further extensions to the high-grade mineralisation at Havieron while evolving the deposit beyond the existing resource shell. With each new set of excellent intercepts, we demonstrably advance the potential size and value of the gold-copper orebody at Havieron.
"Development on site continues at pace with surface earthworks nearing completion and the underground decline underway. As the Joint Venture progresses, ongoing exploration continues to enhance the potential scale of the gold-copper mineralised system at Havieron."
Analytical results for new drilling from HAD086W1, HAD089W1, HAD096W1, HAD097W3, HAD106W2, HAD133, and HAD136 have been received and are announced today. The results reported here are from seven new drill holes comprising 5,757m of drilling completed since 31 March 2021, with all holes intersecting mineralisation. Selected significant intercepts are presented in Table 1.
Table 1 - Selected Significant Havieron Intercepts1.
Hole ID | From (m) | To (m) | Width (m) | Gold (g/t) | Copper (%) |
HAD086W1 | 1240 | 1274 | 34 | 3.9 | 0.28 |
Including | 1259 | 1271.2 | 12.2 | 10 | 0.36 |
1308 | 1407.7 | 99.7 | 2.5 | 0.85 | |
Including | 1313.6 | 1364 | 50.4 | 4.3 | 1.6 |
HAD089W1 | 1009.7 | 1091 | 81.3 | 1.2 | 0.04 |
HAD097W3 | 620.2 | 668 | 47.8 | 2.3 | 0.28 |
Including | 639.7 | 668 | 28.3 | 3.8 | 0.45 |
HAD133 | 1221 | 1329.5 | 108.5 | 1.7 | 0.43 |
Including | 1244.7 | 1268 | 23.3 | 2.7 | 0.59 |
And | 1276 | 1289 | 13 | 2.4 | 0.62 |
And | 1309.9 | 1329 | 19.1 | 2.3 | 0.38 |
1345 | 1430 | 85 | 11 | 0.29 | |
Including | 1363 | 1376 | 13 | 32 | 0.46 |
and | 1396.5 | 1411 | 14.5 | 32 | 0.33 |
HAD136 | 501 | 556.2 | 55.2 | 2.5 | 0.65 |
Including | 506.8 | 531.3 | 24.5 | 5.4 | 0.95 |
Reporting Criteria are listed in Appendix II
In addition to this release, a PDF version of this report with supplementary information can be found at the Company's website: www.greatlandgold.com/media/jorc/
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
Canaccord Genuity (Joint Corporate Broker and Financial Adviser)
James Asensio/Patrick Dolaghan
Tel: +44 (0)20 7523 8000
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
Further Information on Newcrest Drilling and Operations at Havieron
Exploration activities at Havieron are operated by Newcrest under a Joint Venture Agreement with Greatland. The Havieron deposit is centered on a magnetic anomaly located 45km east of Telfer. Exploration drilling by Greatland during 2018 resulted in the discovery of high grade gold and copper mineralisation under 420m of post mineralisation cover. Newcrest commenced drilling at Havieron during the June 2019 quarter and have completed 164,420m of drilling from 190 holes to date.
Drilling activity during the period utilised up to eight drill rigs, and the results reported today are from seven new drill holes completed since the last release dated 29 April 2021. The seven new drill holes comprised 5,757m of drilling completed since 31 March 2021, with all holes intersecting mineralisation. Growth Drilling has focused on the North West Crescent and Northern Breccia Zones, and depth extensions of the South East Crescent and Breccia. Growth Drilling is ongoing with the potential for 70,000 to 85,000m in FY22.
All new Growth Drilling holes intersected mineralisation. Significant new results are presented in Table 1, and full drilling results are presented in Appendix II. The Growth Drilling results announced today are considered excellent, and both confirm previously reported drilling results and extend gold copper mineralisation beyond previously identified Inferred Mineral Resource boundaries. Additional mineralisation has been identified in Northern Breccia Zone and significant high grade extensions to the South East Crescent zone below the current Inferred Mineral Resource Estimate have been identified. The high grade Crescent zone remains open at depth.
At the South East Crescent zone, growth drilling to expand the resource has commenced with two drill holes HAD086W1 and HAD133 extending the high grade mineralisation ~80m below the base of the December 2020 Initial Inferred Mineral Resource shell. These intercepts are also below previously reported hole HAD065W2 (120.7m @ 9.3 g/t Au & 0.18 % Cu from 1,349.3m, including 26.6m @ 34 g/t Au & 0.23 % Cu from 1,384.4m) and highlight significant high grade depth extension of the South East Crescent zone. Drilling continues to define the extent of the high grade South East Crescent zone.
Results from Growth Drilling continue to support the potential for resource expansion of the Havieron gold-copper mineralised system, particularly within and around the North West Crescent and Northern Breccia, and below the Initial Inferred Mineral Resource estimate in the South East Crescent Zone and adjacent Breccia Zones.
Results reported today from within the Initial Inferred Mineral Resource estimate in the South East Crescent Zone continue to support the potential delivery of an Indicated Mineral Resource estimate in the upper 320m (vertical) of the initial Inferred Mineral Resource estimate defined over the South East Crescent Zone and adjacent Breccia Zone. Results show good alignment with modelled grade and thickness within the South East Crescent Zone which further supports the continuity of high grade mineralisation.
Significant results from within the Initial Inferred Mineral Resource estimate in the South East Crescent Zone are presented in Table 1, and full drilling results are presented in Appendix II. The results are considered excellent, and show good alignment with modelled grade and thickness within the South East Crescent Zone which further supports the continuity of high grade mineralisation for ongoing studies.
Drilling since May 2019 has outlined an ovoid shaped zone of variable brecciation, alteration and sulphide mineralisation with dimensions of 650m x 350m trending in a north west orientation. Breccia mineralisation has been identified internally and externally to the Crescent zones, including targets which remain open to the east, northwest and southeast. Mineralisation has been observed to greater than 1,000m in vertical extent below the around 420m thick post mineral cover sequence and remains open at depth. Within this ovoid shaped zone (at this stage) exploration has identified four key target regions, which are:
§ South East Crescent and Breccia
§ North West Crescent
§ Northern Breccia
§ Eastern Breccia
Drill data density in the South East Crescent and adjacent Breccia and a portion of the Northern Breccia has been sufficient for the definition of an Inferred Mineral Resource Estimate2 for these domains. Reported inside an A$50/t Net Smelter Return ("NSR") shell, the volume of identified mineralised geological domains where information to estimate the metal inventory and grades is at a sufficient magnitude and having the reasonable prospects of eventual economic extraction comprises:
§ 52Mt @ 2.0g/t Au and 0.31% Cu for 3.4Moz Au and 160Kt Cu for 4.2Moz gold equivalent3, included in geological domains:
- Crescent Zone containing 18Mt @ 3.8g/t Au and 0.61% Cu for 2.2Moz Au and 110Kt Cu; and
- Breccia Zone containing 34Mt @ 1.1g/t Au and 0.15% Cu for 1.2Moz Au and 50Kt Cu.
2. Refer to Newcrest announcement titled "Newcrest announces initial Inferred Mineral Resource estimate for Havieron of 3.4Moz of gold and 160Kt of Copper" dated 10 December 2020 and available on www.asx.com.au under the code "NCM".
3. The gold equivalent (AuEq) is based on assumed prices of US$1,400/oz Au and US$3.40/lb Cu, gold recoveries of 94% (Crescent) and 84% (Breccia), and copper recoveries of 84% (Crescent) and 82% (Breccia), which equates to a formula of approximately AuEq = Au (g/t) + 1.65 * Cu (%). In Greatland's opinion all elements (gold and copper) have a reasonable potential to be recovered and sold.
Outside of the Initial Inferred Mineral Resource Estimate, mineralisation remains open with encouraging results identified from below the South East Crescent and Breccia Zone, and around the Northern Breccia Zone (including the new results reported here), and the Eastern Breccia Zone. The extents of the Havieron system are still to be defined.
Currently, all drill rigs are operational on the Growth Drilling programme with a focus on the North West Crescent, Northern Breccia Zone and depth extension of the South East Crescent and Breccia. This drilling is aimed to provide support for the potential expansion of the existing Inferred Mineral Resource estimate. Drill testing and interpretation of the geological and mineralisation controls of the Eastern Breccia Zone is ongoing.
Further targets outside of Havieron, but within the Havieron Joint Venture area, have been identified with the potential to conduct drilling to test these targets in the future.
Studies are ongoing and include mining methods, hydrogeology, geotechnical, metallurgical, engineering and environmental to support delivery of a Pre-Feasibility Study in the second half of calendar year 2021. Studies continue to investigate the potential to achieve commercial production within three years from commencement of the decline.
In this regard, surface earthworks are largely complete and the boxcut is complete. Decline establishment is progressing to plan with achievements to date including:
§ Surface earthworks are largely complete
§ Box cut excavation and Portal are complete
§ Decline has commenced
Newcrest is also progressing the necessary approvals and permits that are required to commence the development of an operating underground mine and associated infrastructure at the Project4.
4. In addition, the development of any underground mine at the Havieron Project will also be subject to the completion of a successful exploration programme and further studies, market and operating conditions, Board approvals, and a positive decision to mine.
Additional drill hole information is presented in Appendix I and tabulated drill hole intercepts are presented in Appendix II. A 3D schematic plan view of Crescent Sulphide Zone and Breccia target zones is shown in Figure 1, a schematic horizontal slice through the Crescent Sulphide Zone and Breccia hosted mineralisation with new drill hole locations is shown in Figure 2, a schematic plan view with drill hole locations and significant intercepts on interpreted geology is shown in Figure 3, and Cross Sections are shown in Figures 4 and 5.
Mineralisation in the Havieron deposit is hosted by metasedimentary (meta-sandstones, meta-siltstones and meta-carbonate) and intrusive rocks. Gold and copper mineralisation is hosted in breccia, vein and massive sulphide replacement styles, typical of intrusion-related and skarn types of mineralisation. The main sulphide mineral assemblage contains well developed pyrrhotite-chalcopyrite and pyrite. Alteration assemblages associated with mineralisation are amphibole-carbonate-biotite-sericite-chlorite. Higher-grade gold zones (+10g/t Au) are often associated with quartz/chalcopyrite-pyrite veining.
Background to Havieron and Joint Venture Agreement with Newcrest
The Havieron Project is operated by Newcrest under a Joint Venture Agreement with Greatland. As announced on 30 November 2020, Newcrest has now met the Stage 3 expenditure requirement (US$45 million) and is entitled to earn an additional 20% joint venture interest, resulting in an overall joint venture interest of 60% (Greatland 40%). Newcrest can earn up to a 70% joint venture interest through total expenditure of US$65 million and the completion of a series of exploration and development milestones (including the delivery of a Pre-Feasibility study) in a four-stage farm-in over a six year period that commenced in May 2019. Newcrest may acquire an additional 5% interest at the end of the Farm-In period at fair market value.
The Joint Venture Agreement includes tolling principles reflecting the intention of the parties that, subject to a successful exploration programme, Feasibility Study and a positive decision to mine, the resulting joint venture mineralised material will be processed at Newcrest's Telfer operation, located 45km west of Havieron.
Juri Joint Venture
On 30 November 2020, Greatland and Newcrest announced the signing of the Juri Joint Venture, which is a farm-in and joint venture agreement with respect to Greatland's Black Hills and Paterson Range East tenements, located within the Paterson Province approximately 50km from the Telfer operation. The joint venture covers an area of approximately 248km2.
Under the terms of the agreement Newcrest has been granted an initial 25% joint venture interest with the potential to earn up to a 75% joint venture interest through total expenditure of A$20 million over a two stage earn-in, across a five year period. Greatland will manage the Juri Joint Venture until the end of calendar year 2021, after which Newcrest has the right to be appointed as Manager.
Exploration activities have commenced with an initial program designed to drill test the Goliath, Outamind and Los Diablos targets in the Paterson Range East area. An initial scout drill program has been completed at the Goliath target with assay results pending. Subsequent work programs, including drilling, will also focus on the Parlay target within the Black Hills Project.
A regional map showing the Havieron licence and Juri JV area with regional targets and adjacent landholdings can be found at: www.greatlandgold.com/paterson
Figure 1. 3D Plan view schematic showing the spatial association of the South East Crescent + Breccia, North West Crescent, Northern Breccia and Eastern Breccia targets.
Figure 2. Plan view schematic of a horizontal slice at 4700mRL through the Crescent Sulphide Zone and Breccia-hosted Zones, showing the extents of the 0.5 and 1.0 g/t Au Leapfrog grade shells with highlighted newly reported intercepts for this period. Also shown is the Eastern Breccia, Northern Breccia and north-west extensions of known mineralisation outlines projected to the 4700mRL section - drilling is ongoing to confirm the extent of these zones. Previously reported holes are shown in the inset figure.
Figure 3. Schematic plan view map showing drill hole locations and significant intercepts reported in this release superimposed on the interpreted geology. Previously reported holes are not shown for the sake of clarity. Note some holes and results appear on multiple sections due to the sections orientation and sections overlap.
Figure 4. Schematic cross section of geology and significant new drillhole intercepts (looking southwest, Section Line S1, +/-75m section width, as shown in Figure 3). Due to section spacing and orientation holes may appear on multiple sections.
Figure 5. Schematic cross section of geology and significant new drillhole intercepts (looking northwest, Section Line S2, +/-75m section width, as shown in Figure 3). Due to section window size and orientation holes may appear on multiple sections.
Competent Person:
Information in this announcement that relates to exploration results has been extracted from the following announcements:
"Exploration Update", dated 10 June 2021 (Newcrest)
"Excellent Growth Drilling Results at Havieron", dated 29 April 2021 (Greatland)
"Quarterly Exploration Report", dated 29 April 2021 (Newcrest)
"Further Outstanding Infill Drilling Results at Havieron", dated 11 March 2021 (Greatland)
"Exploration Update", dated 11 March 2021 (Newcrest)
"Newcrest Reports Further Drilling Results at Havieron", dated 28 January 2021 (Greatland)
"Quarterly Exploration Report", dated 28 January 2021 (Newcrest)
"Newcrest Reports Further Drilling Results at Havieron", dated 10 December 2020 (Greatland)
"Exploration Update", dated 10 December 2020 (Newcrest)
"Initial Inferred Mineral Resource Estimate for Havieron", dated 10 December 2020 (Greatland)
"Initial Inferred Mineral Resource Estimate for Havieron", dated 10 December 2020 (Newcrest)
"Drilling Results at Havieron Highlight Potential New Eastern Breccia Target", dated 29 October 2020 (Greatland)
"Quarterly Exploration Report", dated 29 October 2020 (Newcrest)
"Latest Drilling Results at Havieron Highlight Potential Bulk Tonnage Target", dated 10 September 2020 (Greatland)
"Exploration Update", dated 10 September 2020 (Newcrest)
"Newcrest Identifies New Zone of Breccia Mineralisation at Havieron", dated 23 July 2020 (Greatland)
"Quarterly Exploration Report", dated 23 July 2020 (Newcrest)
"Further Outstanding Drill Results from Havieron", dated 11 June 2020 (Greatland)
"Exploration Update", dated 11 June 2020 (Newcrest)
"Newcrest Reports Further Outstanding Drill Results at Havieron", dated 30 April 2020 (Greatland)
"Quarterly Exploration Report", dated 30 April 2020 (Newcrest)
"Newcrest Reports Further Outstanding Drill Results at Havieron", dated 11 March 2020 (Greatland)
"Exploration and Guidance Update", dated 11 March 2020 (Newcrest)
"Further Outstanding Drill Results at Havieron", dated 30 January 2020 (Greatland)
"Quarterly Exploration Report", dated 30 January 2020 (Newcrest)
"New Outstanding Drill Results at Havieron Extend the Strike Length of High-Grade Mineralisation", dated 2 December 2019 (Greatland)
"Exploration Update - Havieron", dated 2 December 2019 (Newcrest)
"Further High-Grade Drilling Results from Newcrest's Campaign at Havieron", dated 24 October 2019 (Greatland)
"Quarterly Exploration Report - September 2019", dated 24 October 2019 (Newcrest)
"Update on Newcrest Drilling Results at Havieron", dated 10 September 2019 (Greatland)
"Exploration Update - Havieron", dated 10 September 2019 (Newcrest)
"First Results from Newcrest's Drilling Campaign at Havieron", dated 25 July 2019 (Greatland)
"Newcrest Quarterly Exploration Report - June 2019", dated 25 July 2019 (Newcrest)
Information in this announcement pertaining to Reporting of Exploration Results has been taken from Newcrest Mining Limited's announcement titled "Exploration Update" dated 10 June 2021 and has been reviewed and approved by Mr John McIntyre, a Member of the Australian Institute of Geoscientists (MAIG), who has more than 30 years relevant industry experience. Mr McIntyre is a full-time consultant to the Company and has no financial interest in Greatland Gold plc or its related entities. Mr McIntyre has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and under the AIM Rules - Note for Mining and Oil & Gas Companies, which outline standards of disclosure for mineral projects. Mr McIntyre consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears. Mr McIntyre confirms that the Company is not aware of any new information or data that materially affects the information included in the relevant market announcements, and that the form and context in which the information has been presented has not been materially modified.
Additional information on the project can be found on the Company's website at www.greatlandgold.com/paterson/
In addition to this release, a PDF version of this report with supplementary information can be found at the Company's website: www.greatlandgold.com/media/jorc
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
Canaccord Genuity (Joint Corporate Broker and Financial Adviser)
James Asensio/Patrick Dolaghan
Tel: +44 (0)20 7523 8000
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.
The box cut and decline to develop the Havieron ore body commenced during H1 2021. In addition, a substantial ongoing growth drilling programme is presently underway at Havieron which is being undertaken in conjunction with preparation of a Pre-Feasibility Study (PFS). Newcrest is managing the preparation of the PFS, which is expected to be released during H2 2021.
The Joint Venture Agreement includes tolling principles reflecting the intention of the parties that, subject to a successful exploration programme and feasibility study and a 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 and will update the market on new opportunities as and when appropriate.
APPENDIX I
Havieron Project (Greatland Gold plc - Joint Venture Agreement): JORC Table 1
Section 1 Sampling Techniques and Data
Criteria | Commentary |
Sampling techniques | Core samples are obtained from core drilling in Proterozoic basement lithologies. PQ-HQ and NQ diameter core was drilled on a 6m run. Core was cut using an automated core-cutter and half core sampled at 1m intervals with breaks for major geological changes. Sampling intervals range from 0.2 - 1.0m. Cover sequences were not sampled. |
Drilling techniques | Permian Paterson Formation cover sequence was drilled using mud rotary drilling. Depths of cover typically observed to approximately 420m vertically below surface. Steel casing was emplaced to secure the pre-collar. Core drilling was advanced from the base of the cover sequence with PQ3, HQ3 and NQ2 diameter coring configuration. Core from inclined drill holes are oriented on 3m and 6m runs using an electronic core orientation tool (Reflex ACTIII). At the end of each run, the bottom of hole position is marked by the driller, which is later transferred to the whole drill core run length with a bottom of hole reference line. |
Drill sample recovery | Core recovery is systematically recorded from the commencement of coring to end of hole, by reconciling against driller's depth blocks in each core tray with data recorded in the database. Drillers depth blocks provided the depth, interval of core recovered, and interval of core drilled. Core recoveries were typically 100%, with isolated zones of lower recovery. Cover sequence drilling by the mud-rotary drilling did not yield recoverable samples. |
Logging | Geological logging recorded qualitative descriptions of lithology, alteration, mineralisation, veining, and structure (for all core drilled- 4,798 m for 7 drill holes, all intersecting mineralisation), including orientation of key geological features. Geotechnical measurements were recorded including Rock Quality Designation (RQD) fracture frequency, solid core recovery and qualitative rock strength measurements. Magnetic susceptibility measurements were recorded every metre. The bulk density of selected drill core intervals was determined at site on whole core samples. All geological and geotechnical logging was conducted at the Havieron site. Digital data logging was captured on diamond drill core intervals only, and all data validated and stored in an acQuire database. All drill cores were photographed, prior to cutting and/or sampling the core. The logging is of sufficient quality to support Mineral Resource estimates. |
Sub-sampling techniques and sample preparation | Sampling, sample preparation and quality control protocols are considered appropriate for the material being sampled. Core was cut and sampled at the Telfer and Havieron core processing facility. Half core samples were collected in pre-numbered calico bags and grouped in plastic bags for dispatch to the laboratory. Sample weights typically varied from 0.5 to 4kg. Sample sizes are considered appropriate for the style of mineralisation. Drill core samples were freighted by air and road to the laboratory. Sample preparation was conducted at the independent ISO17025 accredited Intertek Laboratory, Perth (Intertek). Samples were dried at 105oC, and crushed to 95% passing 4.75mm, and the split to obtain up to 3kg sub-sample, which was pulverised (using LM5) to produce a pulped product with the minimum standard of 95% passing 106μm, the sample and 10 samples either side are re-ground or re-screened. There are very few instances of Duplicate samples were collected from crush and pulp samples at a rate of 1:20. Duplicate results show an acceptable level of variability for the material sampled and style of mineralisation. Periodic size checks (1:20) for crush and pulp samples and sample weights are provided by the laboratory and recorded in the acQuire database. |
Quality of assay data and laboratory tests | Assaying of drill core samples was conducted at Intertek. All samples were assayed for 48 elements using a 4-acid digestion followed by ICP-AES/ICP-MS determination (method 4A/MS907), which is considered to provide a total assay for copper. Gold analyses were determined by 50g fire assay with AAS finish (method FA50N/AA), which is considered to provide a total assay for gold. Sampling and assaying quality control procedures consisted of inclusion of certified reference material (CRMs), coarse residue and pulp duplicates with each batch (at least 1:20). Assays of quality control samples were compared with reference samples in acQuire database and verified as acceptable prior to use of data from analysed batches. Laboratory quality control data, including laboratory standards, blanks, duplicates, repeats and grind size results are captured in the acQuire database and assessed for accuracy and precision for recent data. Extended quality control programmes including pulp samples submitted to an umpire laboratory and combined with more extensive re-submission programmes have been completed. Analysis of the available quality control sample assay results indicates that an acceptable level of accuracy and precision has been achieved and the database contains no analytical data that has been numerically manipulated. The assaying techniques and quality control protocols used are considered appropriate for the data to be used for reporting exploration drilling results. |
Verification of sampling and assaying | Sampling intervals defined by the geologist are electronically assigned sample identification numbers prior to core cutting. Corresponding sample numbers matching pre-labelled calico bags are assigned to each interval. All sampling and assay information were stored in a secure acQuire database with restricted access. Electronically generated sample submission forms providing the sample identification number accompany each submission to the laboratory. Assay results from the laboratory with corresponding sample identification are loaded directly into the acQuire database. Assessment of reported significant assay intervals was verified by re-logging of diamond drill core intervals and assessment of high resolution core photography. The verification of significant intersections has been completed by Newcrest personnel and Newcrest's Competent Person/Qualified Person. John McIntyre, Greatland's Competent Person, has reviewed and validated the significant intersections. No adjustments are made to assay data, and no twinned holes have been completed. There are no currently known drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data. |
Location of data points | Drill collar locations were surveyed using a differential GPS with GNSS with a stated accuracy of +/- 0.5m for all drill holes reported. Drill rig alignment was attained using an electronic azimuth aligner. Downhole survey was collected at 6-12m intervals in the cover sequence, and every 6 to 30m in diamond drill core segments of the drill hole using single shot (Axis Mining Champ Gyro). The single shot surveys have been validated using continuous survey to surface (Axis Mining Champ) along with a selection of drill holes re-surveyed by an external survey contactor using a DeviGyro tool - confirming sufficient accuracy for downhole spatial recording. A LIDAR survey was completed over the project area in Nov 2019 which was used to prepare a DEM / topographic model for the project with a spatial accuracy of +/- 0.1m vertical and +/- 0.3m horizontal. The topography is generally low relief to flat, elevation within the dune corridors in ranges between 250-265m Australian Height Datum (AHD) steepening to the southeast. All collar coordinates are provided in the Geocentric Datum of Australian (GDA20 Zone 51). All relative depth information is reported in AHD +5000m. |
Data spacing and distribution | Within the South-East Crescent and Breccia zone drill hole spacing ranges from 50 to 100m, to 50 by 50m within the initial resource extents. Outside the initial resource boundary drill hole spacing ranges from 50 to 200m in lateral extent within the breccia zone over an area of ~2km2. The data spacing is sufficient to establish the degree of geological and grade continuity. Significant assay intercepts remain open. Further drilling is required to determine the extent of currently defined mineralisation. No sample compositing is applied to samples. Drilling intersects mineralisation at various angles. |
Orientation of data in relation to geological structure | Drill holes exploring the extents of the Havieron mineral system intersect moderately dipping carbonate and siliclastic sedimentary facies, mineralised breccia and sub-vertical intrusive lithologies. Geological modelling has been interpreted from historic and Newcrest drill holes. Variable brecciation, alteration and sulphide mineralisation is observed with a footprint with dimensions of 650m x 350m trending in a north west orientation and over 1,000m in vertical extent below cover. The subvertical southeast high grade arcuate crescent sulphide zone has an average thickness of 20m and has been defined over a strike length of up to 550m, and over 700m in vertical extent below cover. Drilling direction is oriented to intersect the steeply dipping high-grade sulphide mineralisation zones at an intersection angle of greater than 40 degrees. The drilled length of reported intersections is typically greater than true width of mineralisation. |
Sample security | The security of samples is controlled by tracking samples from drill rig to database. Drill core was delivered from the drill rig to the Havieron core yard every shift. On completion of geological and geotechnical logging, core processing was completed by Newcrest personnel at the Telfer facility but subsequently completed at the Havieron facility. High resolution core photography and cutting of drill core was undertaken at the Havieron or Telfer core processing facilities. Samples were freighted in sealed bags by air and road to the Laboratory, and in the custody of Newcrest representatives. Sample numbers are generated directly from the database. All samples are collected in pre-numbered calico bags. Verification of sample numbers and identification is conducted by the laboratory on receipt of samples, and sample receipt advise issued to Newcrest. Details of all sample movement are recorded in a database table. Dates, Hole ID sample ranges, and the analytical suite requested are recorded with the dispatch of samples to analytical services. Any discrepancies logged at the receipt of samples into the analytical services are validated. |
Audits or reviews | Internal reviews of core handling, sample preparation and assays laboratories were conducted on a regular basis by both project personnel and owner representatives. In the Competent Person's opinion, the sample preparation, security and analytical procedures are consistent with current industry standards and are entirely appropriate and acceptable for the styles of mineralisation identified and will be appropriate for use in the reporting of exploration results and Mineral Resource estimates. There are no identified drilling, sampling or recovery factors that materially impact the adequacy and reliability of the results of the drilling programme in place at the Havieron Project. |
Section 2 Reporting of Exploration Results
Criteria | Commentary |
Mineral tenement and land tenure status | The Havieron Project is entirely contained within mining tenement M45/1287, which is jointly owned by Greatland Pty Ltd and Newcrest Operations Limited. Newcrest has entered into a Joint Venture Agreement (effective 30 November 2020) and Farm-In Agreement (effective 12 March 2019) with Greatland Pty Ltd and Greatland Gold plc. Newcrest is the manager of the Havieron Project. Newcrest has now met the Stage 3 expenditure requirement (US$45 million) and is entitled to earn an additional 20% joint venture interest, resulting in an overall joint venture interest of 60%. Newcrest has the right to earn up to a 70% interest and acquire a further 5% at fair market value. Newcrest and the Western Desert Lands Aboriginal Corporation are parties to an Indigenous Land Use Agreement (ILUA) which relates to the use of native title land for Newcrest's current operations at Telfer and its activities within a 60-km radius around Telfer and includes its exploration activities at Havieron. The parties have agreed that the ILUA will apply to any future development activities by the Joint Venture Participants (Newcrest and Greatland Gold) at Havieron. The mining tenement M45/1287 wholly replaces the 12 sub-blocks of exploration tenement E45/4701 (former exploration tenement on which the Havieron Project is based) and was granted on 10 September 2020. All obligations with respect to legislative requirements including minimum expenditure are maintained in good standing for prior exploration tenement E45/4701. |
Exploration done by other parties | Newcrest completed six core holes in the vicinity of the Havieron Project from 1991 to 2003. Greatland Gold completed drill targeting and drilling of nine Reverse Circulation (RC) drill holes with core tails for a total of approximately 6,800m in 2018. Results of drilling programmes conducted by Greatland Gold have previously been reported on the Greatland Gold website. Drilling has defined an intrusion-related mineral system with evidence of breccia and massive sulphide-hosted higher-grade gold-copper mineralisation. |
Geology | The Havieron Project is located within the north-western exposure of the Palaeo-Proterozoic to Neoproterozoic Paterson Orogen (formerly Paterson Province), 45 km east of Telfer. The Yeneena Supergroup hosts the Havieron prospect and consists of a 9km thick sequence of marine sedimentary rocks and is entirely overlain by approximately 420m of Phanerozoic sediments of the Paterson Formation and Quaternary aeolian sediments. Gold and copper mineralisation at Havieron consist of breccia, vein and massive sulphide replacement gold and copper mineralisation typical of intrusion-related and skarn styles of mineralisation. Mineralisation is hosted by metasedimentary rocks (meta-sandstones, meta-siltstones and meta-carbonate) and intrusive rocks of an undetermined age. The main mineral assemblage contains well developed pyrrhotite-chalcopyrite and pyrite sulphide mineral assemblages as breccia and vein infill, and massive sulphide lenses. The main mineralisation event is associated with amphibole-carbonate-biotite-sericite-chlorite wall rock alteration. Drilling has partially defined the extents of mineralisation which are observed over 650m by 350m within an arcuate shaped mineralised zone, and to depths of up to 1400m below surface. |
Drill hole Information | As provided in Appendix II. |
Data aggregation methods | Significant assay intercepts are reported as (A) length-weighted averages exceeding 1.0g/t Au greater than or equal to 10m, with a maximum of 5m consecutive internal dilution; and (B) length-weighted averages exceeding 0.2g/t Au for greater than or equal to 20m, with a maximum of 10m consecutive internal dilution, and (C) intervals of >30g/t with no internal dilution which are greater or equal to 30 gram metres (Au_ppm x length). No top cuts are applied to intercept calculations. |
Relationship between mineralisation widths and intercept lengths | Significant assay intervals reported represent apparent widths. Drilling is not always perpendicular to the dip of mineralisation and true widths are less than downhole widths. Estimates of true widths will only be possible when all results are received, and final geological interpretations have been completed. |
Diagrams | Figures 1 through 10 as provided. |
Balanced reporting | This is the sixteenth release of Exploration Results for this project made by Newcrest and Greatland Gold. Previous release dates are 25 July 2019, 10 September 2019, 24 October 2019, 2 December 2019, 30 January 2020, 11 March 2020, 30 April 2020, 11 June 2020, 23 July 2020, 10 September 2020, 29 October 2020, 10 December 2020, 28 January 2021, 11 March 2021 and 29 April 2021. Earlier reporting of exploration programmes conducted by Newcrest and Greatland Gold have previously been reported. Exploration drilling programmes are ongoing and further material results will be reported in subsequent Newcrest releases. |
Other substantive exploration data | Nil |
Further work | Growth drilling is planned to extend the December 2020 Inferred Mineral Resource estimate and define the limits of the Havieron mineralised system. Drilling is planned on the following key targets: South East Crescent and Breccia - extensions below and adjacent to the existing high grade resource shell; North West Crescent, Northern Breccia and Eastern Breccia |
APPENDIX II
Drillhole Data
Havieron Project, Paterson, Western Australia
Reporting Criteria: Intercepts reported are downhole drill width (not true width) Au >0.20ppm (0.2g/t Au) and minimum 20m downhole width with maximum consecutive internal dilution of 10m. Average grades are based on length-weighting of uncut sample grades. Also highlighted are high grade intervals of Au >1.0ppm (1g/t Au) and minimum 10m downhole width with maximum consecutive internal dilution of 5m, and intervals of >30g/t with no internal dilution which are greater or equal to 30 gram metres (Au_ppm x length) are tabled. Gold grades are reported to two significant figures, the downhole lengths are rounded to 0.1m which may cause some apparent discrepancies in interval widths. Samples are from core drilling which is PQ, HQ or NQ in diameter. Core is photographed and logged by the geology team before being cut. Half core PQ, HQ and NQ samples are prepared for assay and the remaining material is retained in the core farm for future reference. Each assay batch is submitted with duplicates and standards to monitor laboratory quality. Total depth (end of hole) is rounded to one decimal place for reporting purposes.
Hole ID | Hole Type | Easting (m) | Northing (m) | RL (m) | Total Depth (m) | Azi | Dip | From (m) | To (m) | Interval (m) | Au (ppm) | Cu (pct) | Cut off |
HAD086W1 | MR-DD | 464623 | 7598148 | 258 | 1460.6 | 225 | -64 | 1240 | 1274 | 34 | 3.9 | 0.28 | 0.2 g/t Au |
incl | 1259 | 1271.2 | 12.2 | 10 | 0.36 | 1.0 g/t Au | |||||||
1265 | 1266 | 1 | 47 | 0.05 | 30 g/t Au | ||||||||
1308 | 1407.7 | 99.7 | 2.5 | 0.85 | 0.2 g/t Au | ||||||||
incl | 1313.6 | 1364 | 50.4 | 4.3 | 1.6 | 1.0 g/t Au | |||||||
incl | 1331 | 1331.9 | 0.9 | 46 | 3.8 | 30 g/t Au | |||||||
incl | 1339.4 | 1340.3 | 0.9 | 50 | 1.3 | 30 g/t Au | |||||||
incl | 1358 | 1359 | 1 | 50 | 0.01 | 30 g/t Au | |||||||
incl | 1393 | 1403 | 10 | 2.1 | 0.13 | 1.0 g/t Au | |||||||
1426.3 | 1460 | 33.7 | 0.39 | 0.09 | 0.2 g/t Au | ||||||||
HAD089W1 | MR-DD | 464299 | 7597746 | 258 | 1138 | 290 | -61 | 602 | 713.2 | 111.2 | 0.32 | 0.02 | 0.2 g/t Au |
752.9 | 791.5 | 38.6 | 0.43 | 0.08 | 0.2 g/t Au | ||||||||
878.1 | 930.9 | 52.8 | 0.54 | 0.13 | 0.2 g/t Au | ||||||||
943.6 | 968.8 | 25.2 | 0.31 | 0.04 | 0.2 g/t Au | ||||||||
1009.7 | 1091 | 81.3 | 1.2 | 0.04 | 0.2 g/t Au | ||||||||
incl | 1078 | 1079 | 1 | 37 | 0.01 | 30 g/t Au | |||||||
HAD096W1 | MR-DD | 463717 | 7597354 | 262 | 1350.4 | 31 | -61 | 704 | 741.5 | 37.5 | 0.20 | 0.03 | 0.2 g/t Au |
812 | 849 | 37 | 0.58 | 0.15 | 0.2 g/t Au | ||||||||
865.4 | 865.8 | 0.4 | 142 | 0.04 | 30 g/t Au | ||||||||
876.6 | 976 | 99.4 | 0.60 | 0.20 | 0.2 g/t Au | ||||||||
998 | 1023 | 25 | 0.27 | 0.27 | 0.2 g/t Au | ||||||||
1037 | 1115 | 78 | 0.45 | 0.07 | 0.2 g/t Au | ||||||||
1271.4 | 1321 | 49.6 | 0.65 | 0.08 | 0.2 g/t Au | ||||||||
incl | 1281.2 | 1296 | 14.8 | 1.9 | 0.15 | 1.0 g/t Au | |||||||
HAD097W3 | MR-DD | 464436 | 7598085 | 257 | 830 | 222 | -63 | 620.2 | 668 | 47.8 | 2.3 | 0.28 | 0.2 g/t Au |
incl | 639.7 | 668 | 28.3 | 3.8 | 0.45 | 1.0 g/t Au | |||||||
HAD106W2 | MR-DD | 463521 | 7597782 | 257 | 1026.4 | 69 | -57 | 648.7 | 702.8 | 54.1 | 0.56 | 0.09 | 0.2 g/t Au |
incl | 674.9 | 688 | 13.1 | 1.6 | 0.11 | 1.0 g/t Au | |||||||
726.9 | 754.8 | 27.9 | 0.22 | 0.06 | 0.2 g/t Au | ||||||||
793 | 850.3 | 57.3 | 0.31 | 0.06 | 0.2 g/t Au | ||||||||
HAD133 | MR-DD | 464071 | 7598315 | 257 | 1430.2 | 171 | -65 | 1221 | 1329.5 | 108.5 | 1.7 | 0.43 | 0.2 g/t Au |
incl | 1244.7 | 1268 | 23.3 | 2.7 | 0.59 | 1.0 g/t Au | |||||||
incl | 1276 | 1289 | 13 | 2.4 | 0.62 | 1.0 g/t Au | |||||||
incl | 1309.9 | 1329 | 19.1 | 2.3 | 0.38 | 1.0 g/t Au | |||||||
1345 | 1430 | 85 | 11 | 0.29 | 0.2 g/t Au | ||||||||
incl | 1363 | 1376 | 13 | 32 | 0.46 | 1.0 g/t Au | |||||||
incl | 1366.6 | 1372.6 | 6 | 62 | 0.24 | 30 g/t Au | |||||||
incl | 1385.7 | 1386.4 | 0.7 | 82 | 0.19 | 30 g/t Au | |||||||
incl | 1396.5 | 1411 | 14.5 | 32 | 0.33 | 1.0 g/t Au | |||||||
incl | 1403 | 1406.6 | 3.6 | 120 | 0.46 | 30 g/t Au | |||||||
HAD136 | MR-DD | 464451 | 7597544 | 257 | 1468.9 | 300 | -62 | 501 | 556.2 | 55.2 | 2.5 | 0.65 | 0.2 g/t Au |
incl | 506.8 | 531.3 | 24.5 | 5.4 | 0.95 | 1.0 g/t Au | |||||||
incl | 512 | 513 | 1 | 31.4 | 1.2 | 30 g/t Au | |||||||
788.8 | 883.6 | 94.8 | 0.34 | 0.12 | 0.2 g/t Au | ||||||||
919.7 | 940 | 20.3 | 0.35 | 0.16 | 0.2 g/t Au | ||||||||
979.3 | 1009 | 29.7 | 0.20 | 0.10 | 0.2 g/t Au | ||||||||
1022.6 | 1137.5 | 114.9 | 0.26 | 0.10 | 0.2 g/t Au | ||||||||
1148.9 | 1194.6 | 45.7 | 0.44 | 0.06 | 0.2 g/t Au | ||||||||
1329 | 1354 | 25 | 0.22 | 0.01 | 0.2 g/t Au |