- Greatland Gold
- 20 February 2025 11:33:53
Source: Sharecast
The AIM-traded firm said the drilling campaign, completed in the December quarter, returned strong gold and copper mineralisation over a 700-metre strike, which remained open along strike and at depth.
It said 16 of the 19 holes drilled intercepted over 50 gram-metres of gold, with an average intercept of 23.2 metres at 2.95 grams of gold per tonne and 1.07% copper.
Exceptional results included 14.3 metres at 9.06 grams of gold per tonne, and 8.57% copper and a broader intercept of 59.0 metres at 2.83 grams of gold per tonne and 0.71% copper.
The company said the mineralisation was hosted in the same geological units as the nearby Main Dome Underground, which had produced over 3.1 million ounces of gold and 210,000 tonnes of copper to date.
It said the presence of existing infrastructure at Telfer was expected to enhance the economic viability of the West Dome Underground Project and accelerate its development.
Planning for a second phase of drilling was now underway.
“The exceptional drilling results from the maiden underground drilling campaign validate the exciting opportunity we identified at the West Dome Underground during our acquisition due diligence,” said managing director Shaun Day.
“The Main Dome Underground began production in mid 2006 and continues operating today, almost 20 years later, having produced more than three million ounces of gold to date.
“This underground drilling campaign is the first since driving across to gain access beneath the West Dome.”
Day said the West Dome Underground drilling delivered high grades and, “equally importantly”, excellent widths.
“They confirm that key geological units hosting the Main Dome Underground mineralisation are present in the West Dome Underground.
“Mineralisation remains open along strike and down dip, and we intend to increase our confidence in the initial body as well as continue to test extensions in our further work.”
Shaun Day added that a primary focus for the company at Telfer was mine life extension, explaining that the results confirmed the West Dome Underground Project as a “very high priority” target for Greatland.
“We are planning a second phase drilling program, including geotechnical and hydrogeological testing to support planned mine studies.
“If we continue to have exploration success, the ability to leverage the existing underground infrastructure at Telfer, including the haulage shaft, provides the opportunity to rapidly advance development of the West Dome Underground.”
At 1116 GMT, shares in Greatland Gold were up 8.4% at 8.89p.
Reporting by Josh White for Sharecast.com.