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Greatland Gold Shares Fall Despite ‘Excellent’ Drilling Campaign Results

Updated: 9 Sep 2021

Greatland Gold said on Thursday that excellent growth drilling results continue to support the potential for resource expansion.

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Greatland identified additional mineralisation below the Crescent zone and in the Northern and Eastern Breccias.

New growth drilling results outside the initial area included 133m at 7 grams per tonne of gold, 29.1m at 9.7 grams per tonne of gold and 87m at 1.8 grams per tonne of gold.

Also Read: Greatland Gold Stock Forecast

The growth drilling is progressing into FY 2022. So far, a further eight growth drill holes have been completed with samples awaiting assay. The results are anticipated to be reported in the next update. The eight holes are part of the ongoing growth drilling programme, targeting the Northern Breccia, Eastern Breccia, and South East Crescent and Breccia.

Shaun Day, CEO of Greatland Gold, commented: “The Growth Drilling campaign at Havieron continues to deliver excellent results with significant intercepts of high-grade gold and copper outside the existing resource shell. These assay results have once again extended known mineralisation below the main South East Crescent zone and to the north-west in the Northern Breccia, adding further scale and value to the Havieron orebody.

“With nearly 200,000 metres of drilling now completed, including extensive Growth Drilling in recent months, we have significantly enhanced our understanding of the orebody and the likelihood of delivering an upgrade to the Mineral Resource Estimate in the near-term.”

Greatland Gold shares are down over 2% at 18.4p despite the positive update. Its share price has fallen over 50% since the start of 2021.

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