Commencement of Early Works at Havieron

RNS Number : 4628M

Greatland Gold PLC

21 January 2021

 

 

21 January 2021

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

Greatland Gold plc

("Greatland" or "the Company")

Commencement of Early Works at Havieron

Further to the announcement of 13 January 2021, Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, is pleased to announce that early works activities have commenced at the Havieron Project in Western Australia.

Gervaise Heddle, Chief Executive Officer of Greatland Gold plc, commented: "The commencement of early works activities at Havieron marks a major milestone for the project and for the Company. Earth moving activities to prepare for the construction of the box cut and decline have begun and we will continue to update shareholders as work progresses. In addition, we look forward to advancing the 2021 growth drilling programme at Havieron, where mineralisation remains open in multiple directions outside of the initial Inferred Mineral Resource estimate. "

The Havieron Project is operated by Newcrest under a Joint Venture Agreement with Greatland. The commencement of early works by Newcrest, as Manager of the Joint Venture, follows receipt of the necessary regulatory approvals to commence these construction activities (as announced on 29 December 2020).

Work is ongoing to finalise the Water Management Plan for the early works programme and to progress further approvals and permits which will be required to commence development of any operating underground mine and associated infrastructure at the Havieron Project.   In addition, the development of any underground mine at the Havieron Project will also be subject to further studies, Board approvals and a positive decision to mine.

Enquiries:

Greatland Gold PLC

Gervaise Heddle/Callum Baxter

Tel: [phone]

Email: [e-mail]

www.greatlandgold.com

SPARK Advisory Partners Limited (Nominated Adviser)

Andrew Emmott/James Keeshan

Tel: [phone]

Berenberg (Joint Corporate Broker and Financial Adviser)

Matthew Armitt/Jennifer Wyllie/Detlir Elezi

Tel: [phone]

Hannam & Partners (Joint Corporate Broker and Financial Adviser)

Andrew Chubb/Matt Hasson/Jay Ashfield

Tel: [phone]

SI Capital Limited (Joint Broker)

Nick Emerson/Alan Gunn

Tel:  [phone]

Luther Pendragon (Media and Investor Relations)

Harry Chathli/Alexis Gore/Joe Quinlan

Tel: [phone]

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 has six main projects; four situated in Western Australia and two in Tasmania.

In March 2019, Greatland signed a Farm-in Agreement with Newcrest Operations Limited, a wholly-owned subsidiary of Newcrest Mining Limited (ASX:NCM), to explore and develop Greatland's Havieron gold-copper deposit in the Paterson region of Western Australia. The Havieron Project is operated by Newcrest under a Joint Venture Agreement with Greatland Gold plc. Newcrest can earn up to a 70% joint venture interest through total expenditure of US$65 million and the completion of a series of exploration and development milestones in a four-stage farm-in over a six year period that commenced in March 2019. Newcrest may acquire an additional 5% interest at the end of the farm-in period at fair market value.

The Joint Venture Agreement includes tolling principles reflecting the intention of the parties that, subject to a successful exploration program and feasibility study and a positive decision to mine, the resulting joint venture mineralised material will be processed at Telfer, located 45km west of Havieron.

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 also actively investigating a range of new opportunities in precious and strategic metals and will update the market on new opportunities as and when appropriate.

 

END

 

 

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