Precious Metals
Greatland Gold surges as company hails “truly spectacular” high-grade Havieron drill results
Greatland Gold surges as company hails “truly spectacular” high-grade Havieron drill results
Greatland Gold (LSE:GGP) has reported another strong set of high-grade drill results at its copper-gold Havieron project in Western Australia.
Shares in the AIM-listed explorer were up 9% to 12.55p in early Thursday trading.
CEO Gervaise Heddle hailed the “truly spectacular” results, including short sections as high as 76g/t gold and 1.2% copper, 66g/t gold and 2.6% copper, and 86g/t gold and 0.87% copper.
Greatland has in its hands one of the most exciting mineral discoveries in Australia in recent years.
Since the last update on 30 April 2020 a further 20,202m of new drilling from 27 holes has been reported.
The drill also revealed lengthy high-grade gold and copper intercepts.
The higher the grade discovered, the more economically viable drilling becomes.
“Analytical results released today from the Havieron project are considered outstanding,” said Heddle, “and include 109m @6.3g/t gold and 0.71% copper from 668m, which represents one of the best results from the project to date.”
“Drilling continued to deliver high-grade broad intersections confirming the significance of this discovery, Activities were focused on infill drilling to support a maiden resource in the second half of 2020, as well as extension drilling to further understand the upside potential.”
Greatland said nine drill rigs are currently operational, supported by a camp comprising 100 staff.
Australian partner Newcrest Mining (ASX:NCM) is planning a further 80,000 metres of drilling at Haveiron in the 12 months from 1 July 2020.
Stage 2 of its farm-in agreement is now complete and as such Newcrest has earned a 40% interest in Haveiron.
In order to complete Stage 3 and earn an additional 20% interest, Newcrest must spend a further $25 million and deliver a pre-feasibility study. It will get first refusal on Greatland’s other local projects at Black Hills, Paterson Range East and the remainder of the Havieron licence.
Haveiron sits 45km from Newcrest’s large but ageing Telfer mine.
Greatland acquired the Havieron project from Pacific Trends Resources in September 2016 in a cash and shares deal. Greatland agreed an initial payment of $25,000AUD cash along with 65.5 million shares worth $225,000AUD, and a second payment of 145.5 million shares worth $500,000.
Greatland is pre-revenue and certainly pre-profit, having lost money every year for the last five years. Shareholders won’t be that concerned given the results that keep flowing from Havieron.
In the last six months GGP shares have rocketed 629% from 1.72p to today’s price north of 12.5p.
Author: Mark Sheridan
The Author does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the piece.
MiningMaven Ltd, the owner of MiningMaven.com, does not own a position in the stock(s) and/or financial instrument(s) mentioned in the piece.
MiningMaven Ltd, the owner of MiningMaven.com, has not been paid for the production of this piece by the company or companies mentioned above.
MiningMaven.com and MiningMaven Ltd are not responsible for the article’s content or accuracy and do not share the views of the author. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance

Doug Casey On The Death Of Privacy… And What Comes Next
Doug Casey On The Death Of Privacy… And What Comes Next
Authored by Doug Casey via InternationalMan.com,
International Man: In practically…
How To Face Risk In An Uncertain World
How To Face Risk In An Uncertain World
Authored by MN Gordon via EconomicPrism.com,
Managing risk. Mitigating uncertainty. Is attempting…
Can We Protect Ourselves from Inflation?
Rulers found out early on that they could debase gold and silver coins for their own gain. As a consequence, the money supply increased, whereas money’s…
-
Financing News18 hours ago
Montero Bolsters Legal Team and Provides Update on CAD$ 90 million ICSID Arbitration Claim against the Government of Tanzania
-
Energy & Critical Metals17 hours ago
Ford EV customers to have access to Tesla Superchargers starting next year; Tesla NACS on Ford EVs from 2025
-
Economics9 hours ago
3 Household-Name Stocks to Buy on the Dip
-
Economics8 hours ago
Take Two: Turkey’s Election Circus Gets Even Crazier
-
Economics12 hours ago
As Interest Rates Rise, the Era of “Deficits Don’t Matter” Is Over
-
Base Metals11 hours ago
Copper Declines On Weak China Macro Data; Little Reason to Expect a Near-Term Rebound
-
Economics8 hours ago
Rolex Watch Market Remains In Bust Cycle
-
Economics8 hours ago
How To Face Risk In An Uncertain World