TIDMGGP
RNS Number : 2899W
Greatland Gold PLC
22 April 2021
--
22 April 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL)
ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO
BE IN THE PUBLIC DOMAIN.
Greatland Gold plc
( " Greatland " or "the Company " )
Greatland commences drilling campaign under Juri JV with
Newcrest
Drill programme underway with focus on high-priority targets
within the Paterson Range East licence including Goliath, Los
Diablos and Outamind
Further to the announcement of 23 February 2021 Greatland Gold
plc (AIM:GGP), the precious and base metals exploration and
development company, is pleased to announce the commencement of
drilling under the Juri Joint Venture ("Juri JV") with partner
Newcrest Mining Limited ("Newcrest"). The Juri JV is in the highly
prospective Paterson province of Western Australia and these
activities mark the start of the work programme.
Highlights of Exploration Activities for the Juri JV
-- Drilling of high-priority targets has commenced across the
Paterson Range East licence, starting at Goliath.
-- Drill camp and infrastructure have been established with field activities underway.
-- Ground electromagnetic ("EM") surveys to be conducted in the
coming weeks to better define priority drill targets.
-- All heritage clearances and government approvals received
ahead of commencing drilling campaign.
The Paterson Range East licence lies approximately 25 kilometres
north of the Company's Havieron gold-copper project and covers 224
square kilometres of Proterozoic basement rocks prospective for
Havieron style gold-copper mineralisation.
Under the Farm-In announced on 30 November 2020, Newcrest has
the right to earn up to a 75% interest in the licences covering the
Juri JV by spending up to A$20m as part of a two stage Farm-In over
five years. Greatland is currently the manager of the Juri JV.
Shaun Day, Chief Executive Officer of Greatland Gold plc,
commented:
"It is very pleasing to announce the commencement of our maiden
drilling campaign under our second joint venture with Newcrest in
the Paterson region.
Six months ago, we entered the Juri JV to accelerate Greatland's
exploration activity and maximise the value of the Paterson Range
East and Black Hills licences. The start of this programme is an
important step towards achieving that goal.
Our geology team has identified a set of high-priority targets
to be drilled across this programme that display many similar
geophysical characteristics to the Havieron gold-copper deposit.
With the drill rig now on site, and all necessary camp
infrastructure safely established, drilling has commenced at a
large 'bulls-eye' magnetic anomaly known as Goliath.
The Juri JV campaign forms part of Greatland's multifaceted
exploration strategy for 2021 in the highly prospective Paterson
region. This work complements the substantial progress at Havieron,
where an ongoing 65, 000 metre growth drilling programme is
presently underway , together with exploration activities at our
100% licences across the region."
Further information on the Juri JV
The Juri JV comprises the Paterson Range East and Black Hills
licences covering an area of approximately 249 square kilometres in
the Paterson region of north-western Australia. The Farm-In
commenced on 29 November 2020. Newcrest has the right to earn up to
a 75% interest in the licences by spending up to A$20m as part of a
two-stage Farm-In over five years. Stage 1 minimum commitment by
Newcrest is A$3m within 24 months of commencement, and Stage 2
contemplates an additional A$17m over a further three years (total
A$20m over five years). Newcrest currently hold a 25% interest in
the JV.
Greatland is the manager of the Juri JV. Newcrest has the right,
but not the obligation, to be appointed manager from 1 January
2022.
Exploration work at the Juri JV licences is focussed on the
discovery of intrusion related gold-copper deposits similar to
Havieron, Telfer and Winu.
The 2021 Work Programme for the Juri JV will include the
following activities as agreed by the Juri JV partners:
-- Drill testing of several high-priority targets across the
Paterson Range East licence, including Goliath, Outamind and Los
Diablos.
-- Drill testing of the Parlay target, a discrete magnetic
anomaly with coincident gravity response in the south-west of the
Black Hills licence.
-- Ground EM surveys to better define and prioritise multiple
additional targets throughout Paterson Range East and Black Hills
licences.
All heritage clearances and government approvals have been
received for the current field activities.
Additional information on the Juri JV can be found on the
Company's website at https://greatlandgold.com/juri-jv/
Enquiries:
Greatland Gold PLC
Shaun Day/Callum Baxter
Tel: +44 (0)20 3709 4900
Email: info@greatlandgold.com
www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated Adviser)
Andrew Emmott/James Keeshan
Tel: +44 (0)20 3368 3550
Berenberg (Joint Corporate Broker and Financial Adviser)
Matthew Armitt/Jennifer Wyllie/Detlir Elezi
Tel: +44 (0)20 3207 7800
Hannam & Partners (Joint Corporate Broker and Financial
Adviser)
Andrew Chubb/Matt Hasson/Jay Ashfield
Tel: +44 (0)20 7907 8500
SI Capital Limited (Joint Broker)
Nick Emerson/Alan Gunn
Tel: +44 (0)14 8341 3500
Luther Pendragon (Media and Investor Relations)
Harry Chathli/Alexis Gore/Joe Quinlan
Tel: +44 (0)20 7618 9100
Notes for Editors:
Greatland Gold plc is a London Stock Exchange AIM-listed
(AIM:GGP) natural resource exploration and development company with
a current focus on precious and base metals.
The Company's flagship asset is the world class Havieron
gold-copper deposit in the Paterson region of Western Australia.
This asset is held in joint venture with Newcrest Mining Ltd.
Havieron is located approximately 45km east of Newcrest's Telfer
gold mine, processing plant and existing infrastructure.
Construction of the box cut and decline to develop the Havieron
orebody commenced in February 2021. In addition, a substantial
ongoing growth drilling programme is presently underway at Havieron
which is being undertaken in conjunction with the preparation of a
Pre-Feasibility Study ("PFS"). The PFS is expected to be released
in late calendar 2021.
The Joint Venture Agreement includes tolling principles
reflecting the intention of the parties that, subject to positive
decision to mine, the resulting joint venture mineralised material
will be processed at Telfer.
Greatland is seeking to identify large mineral deposits in areas
that have not been subject to extensive exploration previously. It
is widely recognised that the next generation of large deposits
will come from such under-explored areas and Greatland is applying
advanced exploration techniques to investigate a number of
carefully selected targets within its focused licence
portfolio.
The Company is actively investigating a range of new
opportunities in Australia for precious and strategic metals.
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END
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