Greatland Gold Says Drilling Data at Australian Project Supports Upgrade Potential
February 17 2022 - 3:59AM
Dow Jones News
By Anthony O. Goriainoff
Greatland Gold PLC said Thursday that a statement released by
its joint-venture partner Newcrest Mining Ltd. earlier in the day
only reiterated results, and that drilling results at the Havieron
gold-copper project in Australia supported the asset's upgrade.
The London-listed company said that in the 11 months since Feb.
5, 2021, the joint venture has consistently announced excellent
drill results from the Havieron gold-copper project in
Australia.
The company said that Newcrest's statement only reiterated
previously announced results from a Stage 1 pre-feasibility study,
or PFS, published in October. It added that the Stage 1 study used
Feb. 5 as a cutoff for drilling information, and that the drill
results issued since weren't incorporated in the release.
Greatland said that since that cutoff date, the volume and
quality of drilling data were outstanding and continued to support
the potential for a significant upgrade of the mineral
resource.
The company said that it believes the PFS revealed only the "tip
of the iceberg" for Havieron's potential, and that this asset is a
unique opportunity to bring a low-risk, low-capital-expenditure
Tier 1 gold-copper mine into production.
Shares at 0816 GMT were down 0.50 pence, or 3.6%, at 13.30
pence.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
February 17, 2022 03:44 ET (08:44 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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