Greatland Gold plc (LON:GGP), a leading precious and base metals focused mining development and exploration company, has today announced an update on the Havieron gold-copper project, its flagship asset, in the Paterson Province of Western Australia.
The world-class Havieron gold-copper project was discovered by the £377m capitalised Greatland and is presently under development in joint venture with Newcrest Mining, the ASX gold major which is being taken over by the Newmont Corporation.
The box cut and decline to the Havieron orebody, which commenced in February 2021, has seen significant progress continuing on the exploration decline with total development at over 2,600 metres in early August 2023.
Havieron is located approximately 45km east of Newcrest’s existing Telfer gold mine, with the group stating that subject to a positive Feasibility Study and Decision to Mine, it may leverage the existing Telfer infrastructure and processing plant.
Development update
The main decline continues to progress, having surpassed 1,840 metres.
Decline support excavations for ventilation, services and materials handling takes the total development to over 2,600 metres.
The decline has continued to progress through improved ground conditions since successfully developing through the middle aquifer late last month.
Managing Director Shaun Day stated that:
“The underground development at Havieron is making good progress as we continue to advance to the top of the orebody.
We are working towards the publication of an updated MRE, which will incorporate data from a further 80,000 metres of growth drilling at Havieron since our March 2022 MRE update.
We are targeting completion and announcement of an updated MRE during the December 2023 quarter and look forward to updating the market in due course.”
The group’s shares are largely unchanged at 7.30p, but against some healthy early dealing volumes.