Greatland Gold plc has provided an update on the progress at its Havieron gold-copper project in Western Australia. The decline development at Havieron has reached over 2,030 meters, with 770 meters remaining before reaching the base of the Permian cover and the top of the Havieron orebody. The decline is approaching the lower confined aquifer (LCA), with approximately 280 meters of development remaining before it is intersected. The LCA is the final aquifer that the decline passes through before reaching the orebody.

To optimize and de-risk the development, depressurization drilling has commenced and groundwater is being pumped to the surface. This water management has indicated potential for greater volumes of water to be managed at the surface than originally modeled. Further hydrological drilling, data collection, and evaluation will be completed to increase confidence in water management from the LCA. Development will continue in the short term before a temporary pause in decline development prior to entering the LCA.

Feasibility Study works will continue, incorporating the further hydrological drilling and enhanced understanding of the LCA and water management requirements. The company expects the Feasibility Study to be completed by the September 2024 quarter. Greatland Gold also mentioned that Newmont's imminent involvement as their Havieron Joint Venture partner is viewed as a positive development.