SYDNEY: Greatland Gold plc, the precious and base metals exploration and development company, has announced that Newcrest Operations Limited has commenced drilling at Greatland’s Havieron gold-copper project in the Paterson region of Western Australia.
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 Operations Limited, a wholly-owned subsidiary of Newcrest Mining Limited, 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 US$65 million.