Greatland Gold well capitalised to push forward with further exploration
Greatland Gold (AIM:GGP), the precious and base metals mineral exploration and development company, today announced its interim results for the six months ended 31 December 2020.
At the Havieron project, the company delivered its initial Mineral Resource estimate and secured $50m of development funding.
Greatland’s upcoming 2021 exploration season will focus on a “three-pronged strategy” in the Peterson region, according to a statement released by the company on Monday.
The company also confirmed it is well capitalised to push forward with exploration programmes in 2021 with cash equivalents of £5.9m.
Greatland Gold is finalising plans to conduct further exploration across the company’s 100% owned licences (Scallywag, Rudall, Canning) in the highly prospective Paterson region.
Shaun Day, chief executive of Greatland Gold, commented on the company’s results and outlook:
“We are very pleased with developments in the first six months as we worked with our partners to reach key milestones at Havieron – delivering the initial Inferred Mineral Resource estimate and securing US$50 million of development funding via a Loan Agreement with Newcrest.”
“At Havieron, additional mineralised zones were identified and further drilling returned the best intercept recorded to date. This gives us great excitement for the significant, 65,000m growth drilling programme now underway. It is an affirmation of the quality of our projects and our team that Newcrest agreed to a second joint venture with us, the Juri JV, in the Paterson region.”
“Looking ahead, Greatland has three elements it is actively progressing in the Paterson region and these will be the focus as we enter the 2021 exploration season. Alongside the potential for rapid development at Havieron, Newcrest and Greatland are preparing for the imminent launch of the exploration programme at the Juri JV which will initially focus on drilling several high-priority targets. Additionally, we will be ramping up exploration activities across our multiple 100% owned targets in the Paterson. The goal for both these campaigns will be to map out large intrusive structures similar to the Havieron discovery.”