Newmont Mining continues to expand its global footprint after gaining access to 1,800 km of a “virtually unexplored greenstone belt.”
Newmont, one of the world’s largest gold producers, has entered into an agreement with Greatland Gold to gain access to the Ernest Giles gold project in Western Australia, host to multiple gold exploration targets and the aforementioned greenstone belt.
Gervaise Heddle, Chief Executive Officer, commented: “We are delighted to have entered into this agreement with Newmont which we hope will significantly accelerate the realisation of the potential value of this exciting gold project. This agreement represents a major step forward for the Company and reinforces our view that the Ernest Giles project has the potential to host several multi-million ounce gold camps.
“We look forward to working with Newmont’s Australian-based team who will be able to bring their extensive collective skills and experience in gold exploration, as well as their industry leading proprietary exploration techniques, and apply them to the vast and virtually unexplored Ernest Giles greenstone belt that is 100% controlled by Greatland.
Callum Baxter, Chief Technical Officer, commented: “This agreement with Newmont represents a major milestone for the Ernest Giles project and the Company. Our view is that the future of major gold discoveries in Australia will be dominated by exploration campaigns that seek to identify large mineralised systems under cover. Newmont is perfectly positioned in this regard with both the international experience and proprietary technologies that can assist with the discovery and definition of large mineralised systems under cover.
The Ernest Giles Gold Project
located in central Western Australia, the Ernest Giles Project covers an area of more than 1,800 square kilometers that includes over 200km of strike of gold and nickel prospective rocks.
The area is covered by desert sands and sediments, making it virtually unexplored. The region is home to several successful exploration discoveries such as Tropicana, which contains over 7 million ounces, and Yamarna/Gruyere (Gold Road Resources ASX:GOR), with over 6 million ounces. The Company is targeting large +5m ounce deposits and clusters of several camp-type +1m ounce gold discoveries at Ernest Giles.
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