Greatland Gold has provided an updated Mineral Resource Estimate for its flagship gold-copper project, Havieron, located in Western Australia. The estimated Mineral Resources, including Ore Reserves, have increased to 8.4 million ounces of gold equivalent (AuEq), which is a 29% increase from the previous estimate. The total gold content has increased by 28% to 7.0 million ounces of gold. The update also confirms continuous mineralization between the Eastern Breccia and main Havieron Breccia domains, with the definition of a new high-grade Link Zone.
The drilling conducted since the previous Mineral Resource Estimate update has targeted the lower portion of the mineral system, resulting in an increase in the ounce per vertical meter (OPVM) profile. The updated estimate now averages 7,900 OPVM (gold equivalent) over the top 1,000 meters vertically. The update also includes a 32% increase in contained gold equivalent metal in the higher confidence Indicated Mineral Resource Estimate category.
Managing Director Shaun Day expressed delight at the continued growth in the Havieron Mineral Resource Estimate. He highlighted the significant increase in the total gold equivalent content from 4.4 million ounces in October 2021 to 8.4 million ounces in 2023. Day also noted the delineation of additional ounces in the lower third of the mineralized system and the confirmation of continuous mineralization in the Link Zone.
The updated Mineral Resource Estimate demonstrates the quality and scale of the Havieron project and strengthens the investment proposition for Greatland Gold. The company is currently conducting a Feasibility Study, which is expected to be completed in 2024 and will be underpinned by the updated Ore Reserve Estimate.
Greatland Gold is a mining development and exploration company focused on precious and base metals. Its flagship asset is the Havieron gold-copper project, which is being developed in a joint venture with Newcrest Mining. The company has a proven track record of discovery and exploration success and is focused on becoming a multi-commodity miner of significant scale.