Greatland Gold has announced that Newcrest has begun drilling at the Havieron gold-copper project in Paterson, Western Australia.
The initial drill programme comprises approximately 10,000 metres of drilling with the aim to define the extent of the mineralisation along strike and at depth, testing the system to a depth of 1,000 metres below surface.
All drilling is being carried out at Newcrest’s expense and Greatland expects to continue to receive regular updates as the programme progresses.
Gervaise Heddle, Chief Executive Officer of Greatland Gold, commented: “It is an exciting moment for Greatland as Newcrest embarks on its first drill programme at our cornerstone Havieron gold-copper project. The initial 10,000-metre drill programme is the most extensive at Havieron to date and we anticipate that Newcrest’s technical expertise and understanding of the local geology will build upon our highly successful 2018 programme. We look forward to keeping shareholders updated with drill results and all other material exploration information as it is received.”
In March 2019, Greatland signed a Farm-in Agreement with Newcrest to explore and develop Greatland’s Havieron gold-copper project in the Paterson region of Western Australia. Newcrest has the right to acquire up to a 70% interest in a 12-block area within E45/4701 that covers the Havieron target by spending up to $65mn.
Greatland’s Paterson project, comprising the Havieron, Black Hills and Paterson Range East licences, is located in the Paterson region of northern Western Australia. The three licences collectively cover more than 385 square km prospective for IOCG type deposits and Telfer-style gold deposits.