Greatland Gold (LON:GGP) has this morning announced some exciting drilling results from its continuing development at its Havieron project.
The group, which is a mining development and exploration company focused primarily on precious and base metals, classes its flagship asset as its world-class Havieron gold-copper project in the Paterson Province of Western Australia.
The prospect was discovered by Greatland and is under development in a joint venture with ASX gold major, Newcrest Mining (70%), which itself is in process of a takeover by Newmont Corporation.
Havieron is located some 45km east of Newcrest's existing Telfer gold mine, providing useful infrastructure advantages.
Significant progress has continued to be reported with total development now exceeding 2,400m including over 1,700m of advance in the main access decline.
Of the latest six assays the best shows were 32m at 6.6 grammes per tonne (g/t) gold and 0.26% copper from 1,317m and 46m at 4.2 g/t gold.
Assay results have been received for all six new drill holes along with assays for four previously drilled holes.
Of these results, eight holes within the SE Crescent returned significant assay intercepts in excess of 50-gram metres of gold.
Group Managing Director Shaun Day stated that:
"We continue to be very pleased with the ongoing progress of the Havieron development which has now surpassed a total of more than 2,400 metres.
Our most recent drilling affirms the impressive widths and high-grade nature of the South East Crescent.
Particularly encouraging is confirmation of continuous mineralisation through the link zone which connects the South East Crescent with the Eastern Breccia.
The Havieron team is focused on incorporating these impressive results into an optimised Feasibility Study."
After this news the shares of the £333m capitalised Greatland Gold were steady at 6.5p this morning.