Juri JV advances to Stage 2

RNS Number : 5002P

Greatland Gold PLC

19 October 2021

 

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19 October 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 and Newcrest advance to Stage 2 of the Juri Joint Venture

Total investment could increase from A$3m to A$20m significantly expanding the exploration programme following a successful initial 2021 drill campaign

Greatland Gold plc (AIM:GGP), a leading mining development and exploration company with a focus on precious and base metals, is pleased to announce the Juri Joint Venture ("Juri JV") with Newcrest Mining Limited ("Newcrest") will advance to Stage 2 which marks an extension and potential acceleration of the Juri JV exploration programme in the highly prospective Paterson province of Western Australia .

Highlights of the Juri JV

§ First phase of Juri JV drilling programme completed on the Paterson Range East and Black Hills tenements

§ Gold assays from first four assayed holes of Juri JV drill programme found mineralisation a t the Saddle Reefs target within the Black Hills licence in an intersection of 3.5m @ 1.88g/t Au from 226.5m and first gold identified at the GoliathProspect including a significant assay of 1.0m @ 1.49g/t Au from 651m

§ Samples from the remaining holes have been delivered to the laboratory and assays are expected to be available around the beginning of November 2021

§ Ground Electro-Magnetic (Ground EM) survey is currently underway to further refine and model future Juri JV targets

§ Investment under the Juri JV could increase from A$3m to A$20m

§ Juri JV 2022 exploration programme expected to include:

§ Drill testing conductors identified in the 2021 Ground EM survey;

§ Drilling other targets not tested in the 2021 programme, including Tara and Tama in Paterson Range East; and

§ Follow-up drilling on any results from this year's drilling programme

§ Greatland will continue in the role of Manager for the Juri JV

 

Shaun Day, Chief Executive Officer of GreatlandGold plc, commented:"Advancing to Stage 2 of the Juri JV marks an important step forward which further demonstrates the confidence and financial commitment of our partner Newcrest.  This progression follows a successful initial drill programme, where mineralisation was discovered, and additional rich geological information obtained in respect of existing and new targets.

This additional investment enables Greatland to expand and accelerate the 2022 Juri exploration programme without the need to self-fund this activity. Furthermore, this commitment is evidence of the strength of our relationship with Newcrest and our mutual belief in our partnership to undercover further deposits in the highly prospective Paterson region.

The Juri JV campaign forms part of Greatland's multifaceted exploration strategy in the highly prospective Paterson region. This work complements the rapid progress at Havieron, with mine development and a growth drilling programme underway; together with exploration activities at our 100% licences across the Paterson district."

Enquiries:

Greatland Gold PLC Shaun Day	[phone] [e-mail] www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated Adviser) Andrew Emmott/James Keeshan	[phone]
Berenberg (Joint Corporate Broker and Financial Adviser) Matthew Armitt/ Varun Talwar/Alamgir Ahmed/Detlir Elezi	[phone]
Canaccord Genuity (Joint Corporate Broker and Financial Adviser) James Asensio/Patrick Dolaghan	[phone]
Hannam & Partners (Joint Corporate Broker and Financial Adviser) Andrew Chubb/Matt Hasson/Jay Ashfield	[phone]
SI Capital Limited (Joint Broker) Nick Emerson/Alan Gunn	[phone]
Luther Pendragon (Media and Investor Relations) Harry Chathli/Alexis Gore/Joe Quinlan	[phone]

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.  Under the Farm-In announced on 30 November 2020, Newcrest has met the Stage 1 expenditure of A$3m and holds a 51% interest in the Juri JV with a right to earn up to a 75% interest in the licences covering the Juri JV by spending an additional A$17m of the Stage 2 Farm-In over three years.

Greatland is the manager of the Juri JV. Newcrest has the right, but not the obligation, to be appointed Manager, starting 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 Stage 1 exploration programme comprised drilling and ground electromagnetic  ("Ground EM") surveying. The drilling comprised nine holes for 4,958m testing five targets at the Goliath, Outamind and Los Diablos targets on the Paterson Range East licence and four holes at the Parlay and Saddle Reefs targets on the Black Hills licence. Gold assays have been received for the first four assayed holes of the programme, with results including 3.5m @ 1.88g/t Au from 226.5m in BHD001 from the Saddle Reefs target within the Black Hills licence, and 1.0m @ 1.49g/t Au from 651m in GOL001A at the Goliath Prospect. Assays for the remaining holes from Los Diablos, Parlay and Saddle Reef and sections of the Outamind hole expected to be available around the beginning of November 2021.

The Ground EM survey is designed to better define and prioritise multiple Airborne electromagnetic ("AEM") targets defined throughout the Paterson Range East and Black Hills licences in the 2020 exploration programme. This Ground EM programme is underway, with completion of on- ground data collection expected in October 2021, and processed data available to guide the proposed 2022 drilling programme.

Additional information on the Juri JV can be found on the Company's website at https://greatlandgold.com/juri-jv/

Competent Person:

Information in this announcement pertaining to Reporting of Exploration Results has been reviewed and approved by Mr John McIntyre, a Member of the Australian Institute of Geoscientists (MAIG), who has more than 30 years relevant industry experience. Mr McIntyre is a full-time employee of the Company. Mr McIntyre has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and under the AIM Rules - Note for Mining and Oil & Gas Companies, which outline standards of disclosure for mineral projects. Mr McIntyre consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears. Mr McIntyre confirms that the Company is not aware of any new information or data that materially affects the information included in the historical market announcements, and that the form and context in which the information has been presented has not been materially modified.

Information in this announcement that relates to historical exploration  results has been extracted from the following announcements:

"First Results from Drilling Campaign at Juri Joint Venture" dated 1/9/2021 (Greatland RNS announcement)

 

Notes for Editors:

Greatland Gold plc (AIM:GGP) is a leading mining development and exploration company with a 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, discovered by Greatland and presently under development in Joint Venture with Newcrest Mining Ltd.

Havieron is located approximately 45km east of Newcrest's Telfer gold mine and, subject to positive decision to mine, will leverage the existing infrastructure and processing plant to significantly reduce the project's capital expenditure and carbon impact for a low-cost pathway to development. An extensive growth drilling programme is presently underway at Havieron with a maiden Pre-Feasibility Study released on the South-East crescent on 12 October 2021. Construction of the box cut and decline to develop the Havieron deposit commenced in February 2021.

Greatland has a proven track record of discovery and exploration success. It is pursuing the next generation of tier-one mineral deposits by applying advanced exploration techniques in under-explored regions. The Company is focused on safe, low-risk jurisdictions and is strategically positioned in the highly prospective Paterson region. Greatland has a total six projects across Australia with a focus on becoming a multi-commodity mining company of significant scale.

 

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