Havieron and on and on for Newcrest

The Havieron JV between Newcrest Mining and London-listed Greatland Gold continues to grow, with the gold/copper resource extending over at least 1 kilometre of continuous mineralisation.

In a filing late last week in the UK, Greatland Gold said seven drill rigs were currently on-site, with the South East Crescent, Eastern Breccia and Northern Breccia mineralised area the focus for further exploration.

Greatland said the recent drilling had extended South East Crescent’s mineralisation a further 100 metres below the current mineral resource estimate. Greatland Gold said South East Crescent continued to remain open at depth.

“South East Crescent high grade zone extended which following recent Growth Drilling is now identified at extending over 1,000 metres of continuous mineralisation, and remains open.

“High grade results within the Northern Breccia continue to demonstrate the potential for further high-grade mineralisation adjacent to the South East Crescent Zone,” Greatland Gold said in its latest UK report.

“Extensive Growth Drilling programme planned across the next twelve months which provides substantial opportunity to expand Havieron.”

Of South East Crescent’s recent drill holes, one intersected 85.8 metres at 3 grams per tonne (g/t) gold and 0.06% copper from 1,604 metres, and 25.3 metres at 1.1 g/t gold and 0.08% copper from 1471m.

Drilling at Northern Breccia had improved its potential, with one hole there returning 149.9 metres at 2.7 g/t gold and 0.12% from 877m, including 13.9 metres at 22.8 g/t gold and 0.46% copper from 1,013 metres.

Greatland Gold managing director Shaun Day expects Havieron to continue its growth trajectory.

“With an extensive growth drilling program planned over the next 12 months, there is tremendous potential to further expand the Havieron resource and unlock the true scale and value of the broader system,” he said.

“Pleasingly, the decline has encountered better ground conditions, resulting in recent improvements to the decline advancement rates.”

By the end of May, Newcrest had constructed 377.5 metres of exploration decline at Havieron.

Greatland Gold and Newcrest are on track to deliver Havieron’s feasibility study by the December quarter of this year.

Shares in Newcrest fell 0.8% to $23.22 on Tuesday.