The precious and base metals exploration company, Greatland Gold pls, has released an update on its Earnest Giles project, located in central western Australia.
The company applied for a new exploration licence for the project, which covers 2,000sqkm, to expand the landholding.
Newmont Exploration Pty Ltd, a subsidiary of Newmont Mining Corp, informed Greatland that its priorities lie with other districts, and so it would not be proceeding with the project.
Newmont held a six month right of first refusal over the Ernest Giles project, however it lapsed due to diverging from the agreement made in May last year.
Greatland Gold’s 100% ownership of the project continues, and the firm has enough finances to explore alternative progressive plans.
The company still aim to use Newmont’s Deep Sensing Geochemistry (DSG) survey to execute these plans.
The survey has so far been successful in defining a new gold anomaly – which covers 5km by 1.5km.