Greatland Gold PLC (LON:GGP) has provided an update on Newcrest's drilling campaign at Greatland's Havieron deposit in the Paterson region of Western Australia which includes the best intercept at the project to date.
The AIM-listed precious and base metals exploration and development company noted the release of an ASX announcement titled " Newcrest Quarterly Exploration Report" by Newcrest Mining Ltd earlier on Thursday.
In it, Newcrest said exploration activities at Havieron have focused on an infill drilling programme to support the estimation of an initial Inferred Mineral Resource from the South East Crescent and adjacent breccia, expected in the December 2020 quarter, together with step-out drilling to define the extents and growth potential of the Havieron mineralised system.
Drilling since May 2019 has outlined an ovoid-shaped zone of variable brecciation, alteration and sulphide mineralisation with dimensions of 650 metres (m) x 350m trending in a north-west orientation. Breccia mineralisation was initially identified internal to the Crescent sulphide zone but most recently has also been recognised external to the Crescent sulphide zone on the east, north-west and south-east.
At this stage, it added, exploration has identified four key target regions, which are: South East Crescent and Breccia; North West Crescent, Northern Breccia; and Eastern Breccia.
Greatland said the latest drilling results have returned the best intercept to date at Havieron from infill drilling at hole HAD065W2, South East Crescent Zone of 120.7m at 9.3 grams per ton (g/t) gold (AU) and 0.18% copper (CU) from 1,349.3m, including 26.6m at 34 g/t AU and 0.23% CU from 1,384.4m.
It noted that a potential new fourth target area, the 'Eastern Breccia', has been identified by growth drilling from two drill holes, including 342.2m at 2.0 g/t AU, 0.11% CU from 1,536.8m at hole HAD084.
Encouragingly, the group added, the new Eastern Breccia highlights the potential for a new region of breccia development not previously recognised and extends mineralisation externally to the ovoid-shaped Crescent sulphide zone.
The company said that further excellent results from infill drilling support the estimation of an initial Inferred Mineral Resource for Havieron in the December quarter from the South East Crescent and adjacent breccia mineralisation.
Best New Results (not previously reported) were:
- HAD057W5 (SE Crescent and Breccia Zone): 212m @ 2.0g/t Au, 0.11% Cu from 981m, including
- 30.2m @ 5.6g/t Au, 0.17% Cu from 1115m
- HAD065W2 (SE Crescent and Breccia Zone): 120.7m @ 9.3g/t Au, 0.18% Cu from 1349.3m, including
- 26.6m @ 34g/t Au, 0.23% Cu from 1384.4m
- HAD083 (Northern Breccia Zone): 183.7m @ 1.8g/t Au, 0.18% Cu from 1098m, including
- 17.2m @ 8.8g/t Au, 0.47% Cu from 1165.2m
- HAD083 (Eastern Breccia Zone): 134m @ 1.4g/t Au, 0.04% Cu from 1529m
- HAD083 (Eastern Breccia Zone): 98.2m @ 1.9g/t Au and 0.14% Cu from 1677m, including
- 41.1m @ 3.7g/t Au, 0.1% Cu from 1723.9m
- HAD084 (Eastern Breccia Zone) : 342.2m @ 2.0g/t Au, 0.11% Cu from 1536.8m, including
- 14m @ 19g/t Au, 0.2% Cu from 1572m
- HAD089 (Northern Breccia Zone): 91m @ 1.6g/t Au, 0.21% Cu from 697m
- HAD089 (NW Crescent Zone): 116m @ 2.9g/t Au, 0.07% Cu from 1136m, including
- 13m @ 13g/t Au, 0.17% Cu from 1136m
Greatland said the exploration programmes at Havieron continue, with both infill drilling to deliver an initial Inferred Mineral Resource and step-out drilling to define the extent of the mineralised system and the latest drill results provide additional support to the ongoing investigation of both high-grade selective and bulk mining methods.
It noted that environmental and baseline studies are progressing to support potential commencement of decline at Havieron by the end of calendar year 2020 or early 2021, subject to market and operating conditions and receipt of all necessary permits, consents and approvals.
The company said Newcrest is continuing to investigate the potential to achieve commercial production within two to three years from commencement of decline.
In a statement, Gervaise Heddle, Greatland Gold's chief executive officer commented: "We are delighted by the latest set of excellent drilling results at Havieron, including the best intercept at the project to date, which further reinforce the potential for a bulk tonnage mining operation at Havieron.
"Exploration at Havieron has now identified four key target regions, including the new Eastern Breccia, which was identified by two of the step-out drill holes reported today. Importantly, the footprint of Havieron continues to expand and breccia mineralisation has now been identified outside of the ovoid-shaped Crescent sulphide zone to the east, north-west and south-east.
"As Newcrest's growth drilling programme further expands the footprint of the mineralised system at Havieron, infill drilling has continued in order to support the estimation of an initial Inferred Mineral Resource from the South East Crescent and adjacent breccia mineralisation. We look forward to the delivery of the initial Inferred Mineral Resource from this zone before the end of the year as further drilling continues to define the full extent of the Havieron system."