Greatland makes solid progress on exploration, development

25th Jul 2023 10:53

(Sharecast News) - Mining exploration company Greatland Gold reported substantial development at the Scallywag and Paterson South projects on Tuesday, as well as advancements on the Havieron decline development.

The AIM-traded firm said that at Scallywag, it had completed diamond drilling at the A35, A34, Swan, Pearl, and Ramses targets.

It said it was now awaiting assay results, which would provide essential data and insights into the potential mineralisation of the areas.

Similarly, at Paterson South, Greatland said it had recently completed its maiden drilling campaign.

The campaign involved five reverse circulation holes at Decka, and a single diamond hole at Stingray.

As with Scallywag, the firm was currently awaiting the assay results from the drilling efforts.

Moreover, Greatland Gold said it had made strides in the Havieron decline development, reporting that with total development progress of 2,510 metres as of 20 July, it had achieved a significant milestone by successfully progressing past the middle aquifer.

The board described that as a substantial de-risking event for the Havieron decline project.

"We are pleased with the continued underground progress at the Havieron underground with development advancing to 2,510 metres," said managing director Shaun Day.

"During the quarter, Greatland progressed an exploration drilling campaign at Scallywag and rapidly mobilised to drill targets at our new Paterson South Project which is a farm-in and joint venture arrangement with Rio Tinto Exploration.

"We await the results from these drill programmes and look forward to updating the market in due course as we continue to make good progress across our portfolio of assets."

At 1032 BST, shares in Greatland Gold were down 0.85% at 7.04p.

Reporting by Josh White for Sharecast.com.