Greatland reports latest progress at Havieron

11th Aug 2023 08:20

(Sharecast News) - Precious and base metals miner and developer Greatland Gold updated the market on its Havieron gold-copper project in the Paterson province of Western Australia on Friday.

The AIM-traded firm said the main decline of the project had made considerable advances, reaching over 1,840 metres.

With the inclusion of support excavations meant for ventilation, materials handling, and services, the total development now extended beyond 2,600 metres.

Moreover, improved ground conditions had been reported since the decline's successful development through the middle aquifer last month.

Overnight, Newcrest Mining issued an announcement to the ASX market in Sydney on its annual mineral resources and ore reserves statement as at 30 June.

Greatland noted that the statement concerning the Havieron project only reaffirmed the details from itz previous ASX announcement on 19 August last year.

Additionally, Greatland revealed that since its announcement in March last year, over 80,000 metres of growth drilling had been completed.

The drilling had primarily centred on delineating the extents of mineralisation in the SE Crescent's lower levels, resource definition within the mineralised system's lower levels, and extending the mineral system beneath the current resource.

It was currently incorporating those drill results into an updated Havieron mineral resource estimate, and expected to finalise it in the December quarter.

"The underground development at Havieron is making good progress as we continue to advance to the top of the orebody," said managing director Shaun Day.

"We are working towards the publication of an updated MRE, which will incorporate data from a further 80,000 metres of growth drilling at Havieron since our March 2022 mineral resource estimate update.

"We are targeting completion and announcement of an updated mineral resource estimate during the December quarter, and look forward to updating the market in due course."

Reporting by Josh White for Sharecast.com.