By Oliver Griffin

 

Shares in Greatland Gold PLC (GGP.LN) inched up on Tuesday after the company said Newcrest Mining Ltd. (NCM.AU) has returned further excellent drill results at the Havieron gold-copper project in Western Australia.

The mining company said that three of the drill holes each intersected significant widths of mineralization in excess of 100 meters with grades of 2 grams a ton of gold or higher.

Greatland Gold said one of these intersections included a 43 meter interval with a gold grade of 7.9 grams a ton. Copper grades were also present, ranging from 0.1% to almost 1%, the company said.

In March the company signed a farm-in agreement with Newcrest Operations Ltd., a wholly owned subsidiary of Newcrest, to explore the Havieron project. Newcrest can acquire up to a 70% interest in a 12-block area that covers the project by spending $65 million.

Shares at 0803 GMT were up 3.7% at 1.81 pence.

 

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

 

(END) Dow Jones Newswires

September 10, 2019 04:29 ET (08:29 GMT)

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