Greatland Gold (AIM: GGP) announced that the $65-million farm-in at the Havieron project agreed in March 2019 with Newcrest Mining (ASX: NCM) is progressing ahead of schedule and that the mineralization footprint on the property continues to expand.
“Parties are on track to deliver an initial resource for Havieron in calendar Q4-2020,” Greatland said in a media statement. “Parties are also progressing studies to support the commencement of decline by end of calendar year 2020 or early 2021 as well as investigating potential subsequent commercial production within two to three years of the decline.”
Newcrest’s ongoing drilling campaign at the Havieron deposit, which is located in the Paterson region of Western Australia, identified a new breccia zone known as the ‘Northern Breccia.’ According to Greatland, this zone has a footprint of ~300m x 100m x 300m open at depth and continues to expand with further drilling.
“The expansion of the new Northern Breccia zone is an important development that highlights the potential for a bulk tonnage mining operation at Havieron. Significantly, excellent results from step-out drilling to date indicate the presence of higher-grade, massive sulphide mineralisation within the breccia bodies, which are yet to be fully defined by drilling and remain open at depth,” Gervaise Heddle, CEO of Greatland Gold, said in the press brief.
Heddle also reported that the Western Australian Department of Mines recently approved mining lease application 45/1287 for the Havieron gold-copper deposit.