Greatland Gold upbeat on recent work at Havieron

Mining explorer and developer Greatland Gold updated the market on exploration and development at the Havieron gold-copper project in the Paterson region of Western Australia on Thursday.

The AIM-traded firm said seven drill rigs were currently on site, with all focussed on growth.

One of the targets was Eastern Breccia, where drilling was continuing to expand the mineralised footprint, including further defining higher-grade zones.

At South-East Crescent, meanwhile, continuous mineralisation had been identified across 1,000 vertical metres, and remained open.

Drilling was continuing to progressively test for extensions to the South-East Crescent, with drilling planned up to 400 metres below the updated mineral resource.

At Northern Breccia, drilling was aimed at extending the high-grade zones of mineralisation at depth.

Finally, drilling was also continuing to test new geophysical targets outside of the main Havieron system, with follow-up drilling planned at regional targets on the Havieron mining lease.

“Havieron's extensive growth drilling program continues to identify and expand high grade extensions to the mineralisation in the Eastern Breccia, South-East Crescent Zone and Northern Breccia,” said managing director Shaun Day.

“Eastern Breccia growth drilling continues to expand and define the mineralised footprint and extensions of the zonation.

“This Eastern Breccia drilling includes a new northern-most high grade intercept.”

Day said the observed grade from the drilling reinforced the potential for the Eastern Breccia corridor to host Crescent-style high-grade mineralisation.

“With seven drill rigs all focusing on growth, this demonstrates the ongoing potential for the continued expansion of the Havieron system footprint below and adjacent to the existing resource.

“The observed acceleration of the decline advancement is particularly pleasing.

“The improved advancement productivity is consistent with the expected improvement of ground conditions with depth.”

At 1629 BST, shares in Greatland Gold were up 8.44% at 10.9p.

Reporting by Josh White at Sharecast.com.