Gteatland Gold have released an update on their drilling programme at the world-class Havieron gold asset with ‘significant mineralisation’ found in 19 of the new holes.
Their joint venture with Newcrest has now completed 219,561m of drilling from 266 holes and the company says there is another 90,000 meters planned by June 2022.
The recent drills uncovered further resources at HAD086W3 below the already recorded 48m of 2.2g/t Au & 0.15% Cu from 1,525m and 26.9m of 3.7g/t Au & 0.26% Cu from 1,538.1m.
However, despite the upbeat findings from the drill campaign, Greatland Gold shares remained little changed on Thursday morning.
Indeed, the Greatland Gold share price is trading at the lowest levels since late August 2020 and has given up nearly two thirds of their value YTD.
Greatland Gold have recently completed a fundraise they say was to help accelerate the development of the Havieron asset.
The fundraise, by way of a placing, was completed at 14p, a level now above the current Greatland Gold share price.
“The drill programme at Havieron consistently delivers high grade results and intersects significant mineralisation which continues to support a significant upgrade of the Inferred Mineral Resource to an Indicated Mineral Resource,” said Shaun Day, Chief Executive Officer of Greatland Gold.
“This latest drilling demonstrates continuity within the South East Crescent and together with significant assay intercepts running into the broader mineralized zonation. In addition, we have intercepts over 250 meters below the existing South East Crescent Mineral Resource which demonstrates the opportunity to further expand the ore body.
“As we head towards 2022, all drill programmes will be focused on growth, including new targets outside the known Havieron system with drill testing commencing at Havieron North and Zipa while we await the assay results of the initial drilling into these targets.
“With eight drill rigs operational, construction activities advancing and potential for significant upside for the scale and life of Havieron, there continues to be tremendous progress in the development of this world class project.”