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July 26, 2019

Greatland reports drilling programme results at Havieron project

Greatland Gold has announced the first results from Newcrest's drilling programme at its fully owned Havieron project in the Paterson region of Western Australia.

Greatland Gold has announced the first results from Newcrest’s drilling programme at its fully owned Havieron project in the Paterson region of Western Australia.

The drilling campaign highlights that two rigs were operational with one existing drill hole extended (HAD006) and two new holes completed (HAD010 and HAD011) for a total of 2,800m of drilling.

Confirming the presence of high-grade copper-gold mineralisation at Havieron, the drill campaign highlights also include 17m at 21g/t Au and 0.39% Cu from 1,153m, according to Newcrest’s quarterly exploration report.

The drilling programme is designed to further define the extent of the upper gold zone, test the depth extents of the mineralisation and associated magnetic anomaly.

As a next step, the drilling programme will seek additional zones of mineralised breccia within the footprint of the coincident magnetic anomaly.

Greatland Gold CEO Gervaise Heddle said: “We are particularly pleased to see that the hole HAD006 extension, the deepest hole to date at Havieron, identified high-grade mineralisation at depth, which further supports our view that Havieron has the potential to become a large, underground mining operation in one of the most mining-friendly jurisdictions in the world.

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“These results also reinforce our view regarding the prospectivity of the Paterson region and, more specifically, the potential for other magnetic anomalies in the region, such as the multiple targets recently identified at our Paterson Range East licence, to host tier-one gold-copper deposits.”

Furthermore, the company announced the commencement of operations of the third rig at Havieron. The fourth rig is expected to arrive at the site next month.

In March, Greatland and Newcrest signed an agreement to develop the Havieron project. Under the agreement, the companies agreed to form a joint venture to develop the Havieron gold-copper project. Newcrest was allowed to spend up to $65m to acquire up to 70% interest in the project.

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