Greatland Gold PLC (AIM:GGP, OTC:GRLGF) (AIM:GGP) shares rocketed higher on news that partner Newcrest Mining intends to release its pre-feasibility study results from the Havieron gold-copper deposit in the Paterson region of Western Australia on Tuesday 12 October 2021.
An extensive growth drilling programme is presently underway at Havieron while construction of the box cut and decline to develop the Havieron deposit commenced in February 2021.
Shaun Day, Greatleand’s chief executive, said recently that the Growth Drilling programme under the Crescent Sulphide Zone and around the Northern Breccia continue to support the potential for resource expansion.
All 12 new drill holes intersected mineralisation, with six holes returning significant assay intercepts greater than 100-gram metres of gold, he said.
In July, broker Berenberg predicted that in light of the recent drill results the current resource at Havieron of 52mln tonnes hosting 4.2mln ounces on a gold-equivalent basis will be materially expanded.
Under the farm-in agreement, Newcrest can earn up to a 70% interest through total expenditure of US$65mln and the completion of a series of exploration and development milestones in four-stages over a six-year period that commenced in May 2019.