Company Announcements

Further Drilling Results at Havieron

Source: RNS
RNS Number : 1499I
Greatland Gold PLC
10 December 2020
 

 

10 December 2020

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR)

Greatland Gold plc

("Greatland" or "the Company")

 

Newcrest Reports Further Drilling Results at Havieron

 

Further excellent infill and growth drilling results improve continuity of mineralisation and highlight the opportunity to expand footprint of mineralisation at Havieron

 

Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, is pleased to provide an update on Newcrest's drilling campaign at Greatland's Havieron deposit in the Paterson region of Western Australia. The Company notes the release of an ASX announcement titled "Exploration Update"  by Newcrest Mining Ltd ("Newcrest") earlier today.

 

At Havieron, exploration activities have focused on an infill drilling programme to support the estimation of an initial Inferred Mineral Resource1, separately announced today, together with step out drilling to define the extents and growth potential of the Havieron mineralised system. Drilling since May 2019 has outlined an ovoid shaped zone of variable brecciation, alteration and sulphide mineralisation with dimensions of 650m x 350m x 1000m deep, trending in a north west orientation. Breccia mineralisation was initially identified internal to the Crescent sulphide zone but most recently has also been recognised external to the Crescent sulphide zone on the east, north-west and south-east.

 

At this stage, exploration has identified four key target regions, which are:

·      South East Crescent and Breccia

·      North West Crescent

·      Northern Breccia

·      Eastern Breccia

 

1 Refer to Newcrest announcement titled "Newcrest announces initial Inferred Mineral Resource estimate for Havieron of 3.4Moz of gold and 160Kt of Copper" dated 10 December 2020 and available on www.asx.com.au under the code "NCM".

 

Highlights

 

·      Further excellent drilling results: Latest drilling results further improve the continuity of mineralisation and highlight the potential to expand mineralisation footprint at Havieron.

·      South East Crescent and Breccia: Latest drill results improve the continuity of higher-grade mineralisation within the South East Crescent and Breccia. Mineralisation is open at depth below the Inferred Mineral Resource shell providing support for potential expansion at depth. Selected results include2:

·      HAD056W1: 205.8m @ 1.2g/t Au & 0.24% Cu from 598m, including

·      31.8m @ 3.1g/t Au & 0.38% Cu from 722m

·      HAD057W4: 100m @ 2.1g/t Au & 0.05% Cu from 1029m, including

·      19.3m @ 6.2g/t Au & 0.07% Cu from 1089.3m

·      HAD097W2: 119.2m @ 2.7g/t Au & 0.40% Cu from 937.8m, including

·      2.8m @ 65g/t Au and 0.46% Cu from 1010.6m

·      Northern Breccia: Results continue to support continuity of mineralisation and demonstrate opportunity to further expand the mineralisation footprint in the Northern Breccia region. Selected results include:

·      HAD101: 92.5m @ 1.9g/t Au & 0.06% Cu from 1296m, including

·      15.6m @ 4.8g/t Au & 0.02% Cu from 1350m

·      HAD103: 90.6m @ 2.3g/t Au & 0.18% Cu from 776.4m, including

·      2.4m @ 67g/t Au and 0.33% Cu from 822.7m

·      HAD105: 298.8m @ 1.2g/t Au & 0.11% Cu from 801.6m, including

·      15.8m @ 3.5g/t Au & 0.22% Cu from 821m

 

2 All widths are downhole widths, generally greater than true widths.

 

Next Steps

 

·    2021 Growth Drilling: Growth drilling programme in calendar year 2021 will focus on the extension and definition of the South Eastern Crescent and Breccia, North West Crescent, Northern Breccia and Eastern Breccia zones outside the current Inferred Resource.

·    Infill Drilling Programme: Infill drilling is underway on the top 350 vertical metres of the South Eastern Crescent within the existing resource outline with the aim to define Indicated resources to underpin the proposed Pre-Feasibility Study.

·    Early Works Commencement: New camp at Havieron, with accommodation for up to 230 people, is nearly complete, and construction of box cut and decline is expected to commence late 2020 or early 2021, subject to receipt of required approvals.

·    Pre-Feasibility Study: A Pre-Feasibility Study for Havieron, based on an Indicated Mineral Resource Estimate, is expected is to be delivered by late 2021.

·    Potential Commercial Production: Continuing to investigate potential to achieve commercial production within two to three years from commencement of decline.

 

Gervaise Heddle, Chief Executive Officer of Greatland Gold plc, commented: "We are very pleased by the latest set of excellent drilling results at Havieron, which further demonstrate the potential to expand the footprint of mineralisation at Havieron. We look forward to the growth drilling programme in 2021 and working to establish a full picture of Havieron's potential right across the four exploration target areas."

 

 

Analytical results for HAD048W1, HAD056W1, HAD057W4, HAD065W2, HAD081W1, HAD081W2, HAD083W1, HAD095, HAD096, HAD097W2, HAD098, HAD101, HAD102, HAD103 and HAD105, have been received and are announced today (along with selected significant intercepts from September 2020 Quarterly reporting where partial hole previously reported) and are presented in Table 1.

 

Table 1 - Selected Significant Havieron Intercepts.

 

Hole ID

From (m)

To (m)

Width (m)

Gold (g/t)

Copper (%)

HAD048W1

1203.3

1238.8

35.6

1.3

0.45

HAD056W1

598

803.8

205.8

1.2

0.24

including

722

753.8

31.8

3.1

0.38

HAD057W4

1029

1129

100

2.1

0.05

including

1089.3

1108.6

19.3

6.2

0.07

HAD065W2

1207.4

1270.2

62.8

1.8

0.06

HAD065W2^^

1349.3

1470

120.7^^

9.3

0.18

including

1384.4

1411

26.6^^

34

0.23

HAD081W2

833.8

867

33.2

1.4

0.14

HAD083W1

772.4

905

132.6

0.9

0.08

including

880

890

10

2.3

0.07

HAD083W1

915.2

1098.5

183.3

0.87

0.13

including

1009.1

1021

11.9

6.7

0.65

HAD095

981.8

1088

106.2

0.79

0.1

including

1052

1065

13

2.6

0.15

HAD096

707

799

92

0.99

0.13

HAD097W2

937.8

1057

119.2

2.7

0.4

including

1010.6

1013.4

2.8

65

0.46

HAD098

1096

1240.8

144.8

0.67

0.16

including

1178.5

1188.8

10.3

2.7

0.17

HAD101

1083.8

1231

147.2

1.1

0.18

including

1213

1228.7

15.7

4.2

0.41

HAD101

1296

1388.5

92.5

1.9

0.06

including

1373

1387

14

6.2

0.1

HAD101

1593

1646.3

53.3

1.5

0.25

HAD103

776.4

867

90.6

2.3

0.18

including

822.7

825.1

2.4

67

0.33

HAD105

801.6

1100.4

298.8

1.2

0.11

including

821

836.8

15.8

3.5

0.22

* partial results, assays pending ** partial intercept, assays pending; ^ updated intercept or ^^ previously reported.

Reporting Criteria are listed in Appendix II

  

In addition to this release, a PDF version of this report with supplementary information can be found at the Company's website: www.greatlandgold.com/media/jorc/ 

 

Further Information on Newcrest Drilling and Operations at Havieron

 

Exploration activities at Havieron are operated by Newcrest under a Joint Venture Agreement with Greatland. The Havieron deposit is centered on a magnetic anomaly located 45km east of Telfer. Exploration drilling by Greatland during 2018 resulted in the discovery of significant gold and copper mineralisation under 400m of post mineralisation cover. Newcrest commenced drilling at Havieron during the June 2019 quarter and have completed 128,559m of drilling from 134 holes to date.

 

Drilling activity has progressively increased such that up to eight drill rigs are now in operation. Results reported today are from a further 14 drill holes including wedges for 16,646m of drilling completed since 30 September 2020. All drill holes intersected mineralisation. Significant new results are presented in Table 1. Infill and step out drilling results announced today are considered excellent.

 

At Havieron, exploration activities have focused on an infill drilling program to support the estimation of an Inferred Mineral Resource1 from the South East Crescent and adjacent breccias, together with step out drilling to define the extents and growth potential of the Havieron mineralised system.

 

Drilling since May 2019 has outlined an ovoid shaped zone of variable brecciation, alteration and sulphide mineralisation with dimensions of 650m x 350m trending in a north west orientation. Breccia mineralisation has been identified internally and externally to the Crescent zone, including targets which remain open to the east, northwest and southeast. Mineralisation has been observed to greater than 1000m in vertical extent below the post mineral cover sequence and remains open at depth. Within this ovoid shaped zone (at this stage) exploration has identified four key target regions, which are:

 

·      South East Crescent and Breccia

·      North West Crescent

·      Northern Breccia

·      Eastern Breccia

 

Drill data density in the South East Crescent and adjacent Breccia and a portion of the Northern Breccia has been sufficient for the definition of an Inferred Mineral Resource Estimate for these domains. Reported inside an A$50/t Net Smelter Royalty ("NSR") shell, the volume of identified mineralised geological domains where information to estimate the metal inventory and grades is at a sufficient magnitude and having the reasonable prospects of eventual economic extraction comprises:

 

·      52Mt @ 2.0g/t Au and 0.31% Cu for 3.4Moz Au and 160Kt Cu for 4.2M Oz's gold equivalent3, included in geological domains:

Crescent Zone containing 18Mt @ 3.8g/t Au and 0.61% Cu for 2.2Moz Au and 110Kt Cu; and

Breccia Zone containing 34Mt @ 1.1g/t Au and 0.15% Cu for 1.2Moz Au and 50Kt Cu

 

3 The gold equivalent (AuEq) is based on assumed prices of US$1,400/oz Au and US$3.40/lb Cu, gold recoveries of 94% (Crescent) and 84% (Breccia), and copper recoveries of 84% (Crescent) and 82% (Breccia), which equates to a formula of approximately AuEq = Au (g/t) + 1.65

* Cu (%).  In Greatland's opinion all elements (gold and copper) have a reasonable potential to be recovered and sold.

 

Outside of the Inferred Mineral Resource estimate, mineralisation remains open with encouraging results identified from the South East Crescent and Breccia Zone, Northern Breccia Zone, and the Eastern Breccia Zone.

 

Within the South East Crescent and Breccia Zone, a total of five holes have been completed for the reporting period. These drill holes (included in the resource) improve the continuity of higher grade mineralisation within the South East Crescent and Breccia Zone and include:

 

·      HAD056W1

205.8m @ 1.2g/t Au & 0.24% Cu from 598m

Including 31.8m @ 3.1g/t Au & 0.38% Cu from 722m

·      HAD057W4

100m @ 2.1g/t Au & 0.05% Cu from 1029m

Including 19.3m @ 6.2g/t Au & 0.07% Cu from 1089.3m

·      HAD097W2

119.2m @ 2.7g/t Au & 0.40% Cu from 937.8m

Including 2.8m @ 65g/t Au and 0.46% Cu from 1010.6m

 

Mineralisation is open at depth below the Inferred Mineral Resource shell providing support for potential resource expansion at depth. Further infill drilling of the South East Crescent and Breccia Zones is ongoing to support potential for delivery of an Indicated Mineral Resource and associated early studies.

 

Within the Northern Breccia Zone, a total of 10 drill holes have been completed during the reporting period with mineralisation identified in 23 drill holes to date. Results continue to support continuity of mineralisation and demonstrate opportunity to further expand the mineralisation footprint in this region. Results include:

 

·      HAD101

92.5m @ 1.9g/t Au & 0.06% Cu from 1296m

Including 15.6m @ 4.8g/t Au & 0.02% Cu from 1350m

·      HAD103

90.6m @ 2.3g/t Au & 0.18% Cu from 776.4m,

including 2.4m @ 67g/t Au and 0.33% Cu from 822.7m

·      HAD105

298.8m @ 1.2g/t Au & 0.11% Cu from 801.6m,

including 15.8m @ 3.5g/t Au & 0.22% Cu from 821m

 

Further drilling of the Northern Breccia Zone is ongoing to support the potential expansion of the existing Inferred Mineral Resource.   

 

Within the Eastern Brecccia Zone a total of one drill hole was completed during the reporting period with mineralisation now identified in three drill holes to date. Drill testing and interpretation of the geological and mineralisation controls of the Eastern Breccia Zone is ongoing.

 

·      HAD101

53.3m @ 1.5g/t Au & 0.25% Cu from 1593m

Including 19.7m @ 1.9g/t Au & 0.2% Cu from 1619m

 

Mineralisation at the Havieron deposit has been identified internally and externally to the Crescent Zone, including targets which remain open to the east, northwest and southeast. Mineralisation has been observed to greater than 1000m in vertical extent below the post mineralisation cover sequence and remains open at depth. The extents of the Havieron system are still to be defined.

 

Growth drilling in calendar year 2021 will continue to focus on the above potential extensions and definition of the identified zones. Infill drilling is underway on the top 350 vertical metres of the South Eastern Crescent within the existing resource outline, looking to upgrade some of the Inferred Resource to Indicated.

 

Early studies are ongoing and include mining methods, hydrogeology, geotechnical, metallurgical, engineering and environmental to support delivery of a Pre-Feasibility Study in late 2021.

 

Newcrest continues to investigate the potential to commence an exploration decline at Havieron by the end of calendar year 2020 or early 2021, subject to market and operating conditions and receipt of all necessary permits, consents and approvals, along with the potential to achieve commercial production within two to three years from commencement of decline.

 

Exploration drilling and studies are ongoing to support early development options. Currently, up to eight drill rigs remain operational. A 230 person camp has nearly been completed to support ongoing operations. Access upgrades are currently underway.

 

Additional drill hole information is presented in Appendix I and tabulated drill hole intercepts are presented in Appendix II.

 

Deposit mineralisation is hosted by metasedimentary (meta-sandstones, meta-siltstones and meta-carbonate) and intrusive rocks. Gold and copper mineralisation is hosted in breccia, vein and massive sulphide replacement styles, typical of intrusion-related and skarn types of mineralisation. The main sulphide mineral assemblage contains well developed pyrrhotite-chalcopyrite and pyrite. Alteration assemblages associated with mineralisation are amphibole-carbonate-biotite-sericite-chlorite. Higher grade gold zones (+10g/t Au) are often associated with quartz/chalcopyrite-pyrite veining.

 

Newcrest has implemented and maintained measures to reduce and mitigate the risk of the COVID-19 pandemic to its project workforce and key stakeholders. Potential impacts of the COVID-19 pandemic on the drilling activity at Havieron are being actively managed and considered as part of the studies underway. There have been no COVID-19 cases at Havieron.

 

Background to Havieron and Joint Venture Agreement with Newcrest

 

The Havieron Project is operated by Newcrest under a Joint Venture Agreement with Greatland Gold plc. As announced on 30 November 2020, Newcrest has now met the Stage 3 expenditure requirement (US$45 million) and is entitled to earn an additional 20% joint venture interest, resulting in an overall joint venture interest of 60% (Greatland Gold 40%). Newcrest can earn up to a 70% joint venture interest through total expenditure of US$65 million and the completion of a series of exploration and development milestones in a four-stage farm-in over a six year period that commenced in March 2019. Newcrest may acquire an additional 5% interest at the end of the farm-in period at fair market value.

 

The Joint Venture Agreement includes tolling principles reflecting the intention of the parties that, subject to a successful exploration program and feasibility study and a positive decision to mine, the resulting joint venture mineralised material will be processed at Telfer, located 45km west of Havieron.

 

A regional map showing the Havieron licence area with regional targets and adjacent landholdings can be found at: www.greatlandgold.com/paterson

 

 

Competent Person:

 

Information in this announcement that relates to exploration results has been extracted from the following announcements:

 

"Exploration Update", dated 10 December 2020 (Newcrest)

"Initial Inferred Mineral Resource Estimate for Havieron", dated 10 December 2020 (Greatland) 

"Initial Inferred Mineral Resource Estimate for Havieron", dated 10 December 2020 (Newcrest) 

"Drilling Results at Havieron Highlight Potential New Eastern Breccia Target", dated 29 October 2020 (Greatland)

"Quarterly Exploration Report", dated 29 October 2020 (Newcrest)

"Latest Drilling Results at Havieron Highlight Potential Bulk Tonnage Target", dated 10 September 2020 (Greatland) 

"Exploration Update", dated 10 September 2020  (Newcrest) 

"Newcrest Identifies New Zone of Breccia Mineralisation at Havieron", dated 23 July 2020 (Greatland)

"Quarterly Exploration Report", dated 23 July 2020 (Newcrest)

"Further Outstanding Drill Results from Havieron", dated 11 June 2020 (Greatland)

"Exploration Update", dated 11 June 2020 (Newcrest)

"Newcrest Reports Further Outstanding Drill Results at Havieron", dated 30 April 2020 (Greatland)

"Quarterly Exploration Report", dated 30 April 2020 (Newcrest)

"Newcrest Reports Further Outstanding Drill Results at Havieron", dated 11 March 2020 (Greatland)

"Exploration and Guidance Update", dated 11 March 2020 (Newcrest)

"Further Outstanding Drill Results at Havieron", dated 30 January 2020 (Greatland)

"Quarterly Exploration Report", dated 30 January 2020 (Newcrest)

"New Outstanding Drill Results at Havieron Extend the Strike Length of High-Grade Mineralisation", dated 2 December 2019 (Greatland)

"Exploration Update - Havieron", dated 2 December 2019 (Newcrest)

"Further High-Grade Drilling Results from Newcrest's Campaign at Havieron", dated 24 October 2019 (Greatland)

"Quarterly Exploration Report - September 2019", dated 24 October 2019 (Newcrest)

"Update on Newcrest Drilling Results at Havieron", dated 10 September 2019 (Greatland)

"Exploration Update - Havieron", dated 10 September 2019 (Newcrest)

"First Results from Newcrest's Drilling Campaign at Havieron", dated 25 July 2019 (Greatland)

"Newcrest Quarterly Exploration Report - June 2019", dated 25 July 2019 (Newcrest)

 

Information in this announcement pertaining to Reporting of Exploration Results, which has been taken from Newcrest Mining Limited's announcement "Exploration Update", dated 10 December 2020, has been reviewed and approved by Mr John McIntyre, a Member of the Australian Institute of Geoscientists (MAIG), who has more than 30 years relevant industry experience. Mr McIntyre is a full-time consultant to the Company and has no financial interest in Greatland Gold plc or its related entities. Mr McIntyre has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and under the AIM Rules - Note for Mining and Oil & Gas Companies, which outline standards of disclosure for mineral projects. Mr McIntyre consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears. Mr McIntyre confirms that the Company is not aware of any new information or data that materially affects the information included in the relevant market announcements, and that the form and context in which the information has been presented has not been materially modified.

 

Additional information on the project can be found on the Company's website at www.greatlandgold.com/paterson/ 

 

In addition to this release, a PDF version of this report with supplementary information can be found at the Company's website: www.greatlandgold.com/media/jorc 

 

 

Enquiries:

 

Greatland Gold PLC

Gervaise Heddle/Callum Baxter

Tel: +44 (0)20 3709 4900

Email:  info@greatlandgold.com

www.greatlandgold.com

 

SPARK Advisory Partners Limited (Nominated Adviser)

Andrew Emmott/James Keeshan

Tel: +44 (0)20 3368 3550

 

Berenberg (Joint Corporate Broker and Financial Adviser)

Matthew Armitt/Jennifer Wyllie/Detlir Elezi

Tel: +44 (0)20 3207 7800

 

Hannam & Partners (Joint Corporate Broker and Financial Adviser)

Andrew Chubb/Matt Hasson/Jay Ashfield

Tel: +44 (0)20 7907 8500

 

SI Capital Limited (Joint Broker)

Nick Emerson/Alan Gunn

Tel:  +44 (0)14 8341 3500

 

Luther Pendragon (Media and Investor Relations)

Harry Chathli/Alexis Gore/Joe Quinlan

Tel: +44 (0)20 7618 9100

 

 

Notes for Editors:

 

Greatland Gold plc is a London Stock Exchange AIM-listed (AIM:GGP) natural resource exploration and development company with a current focus on precious and base metals. The Company has six main projects; four situated in Western Australia and two in Tasmania.

 

In March 2019, Greatland signed a Farm-in Agreement with Newcrest Operations Limited, a wholly-owned subsidiary of Newcrest Mining Limited (ASX:NCM), to explore and develop Greatland's Havieron gold-copper deposit in the Paterson region of Western Australia. The Havieron Project is operated by Newcrest under a Joint Venture Agreement with Greatland Gold plc. Newcrest can earn up to a 70% joint venture interest through total expenditure of US$65 million and the completion of a series of exploration and development milestones in a four-stage farm-in over a six year period that commenced in March 2019. Newcrest may acquire an additional 5% interest at the end of the farm-in period at fair market value.

 

The Joint Venture Agreement includes tolling principles reflecting the intention of the parties that, subject to a successful exploration program and feasibility study and a positive decision to mine, the resulting joint venture mineralised material will be processed at Telfer, located 45km west of Havieron.

 

Greatland is seeking to identify large mineral deposits in areas that have not been subject to extensive exploration previously. It is widely recognised that the next generation of large deposits will come from such under-explored areas and Greatland is applying advanced exploration techniques to investigate a number of carefully selected targets within its focused licence portfolio.

 

The Company is also actively investigating a range of new opportunities in precious and strategic metals and will update the market on new opportunities as and when appropriate.

 

 

 

 APPENDIX I

 

Havieron Project (Greatland Gold plc - Joint Venture Agreement): JORC Table 1

Section 1 Sampling Techniques and Data

Criteria

Commentary

Sampling techniques

Core samples are obtained from core drilling in Proterozoic basement lithologies. PQ-HQ and NQ diameter core was drilled on a 6m run. Core was cut using an automated core-cutter and half core sampled at 1m intervals with breaks for major geological changes. Sampling intervals range from 0.2 - 1.0m. Cover sequences were not sampled.

Drilling techniques

Permian Paterson Formation cover sequence was drilled using mud rotary drilling. Depths of cover typically observed to approximately 420m vertically below surface. Steel casing was emplaced to secure the pre-collar.

Core drilling was advanced from the base of the cover sequence with PQ3, HQ3 and NQ2 diameter coring configuration. 

Core from inclined drill holes are oriented on 3m and 6m runs using an electronic core orientation tool (Reflex ACTIII). At the end of each run, the bottom of hole position is marked by the driller, which is later transferred to the whole drill core run length with a bottom of hole reference line.

Drill sample recovery

Core recovery is systematically recorded from the commencement of coring to end of hole, by reconciling against driller's depth blocks in each core tray with data recorded in the database. Drillers depth blocks provided the depth, interval of core recovered, and interval of core drilled.

Core recoveries were typically 100%, with isolated zones of lower recovery.

Cover sequence drilling by the mud-rotary drilling did not yield recoverable samples.

Logging

Geological logging recorded qualitative descriptions of lithology, alteration, mineralisation, veining, and structure (for all core drilled - 10,136m from 14 drillholes, all intersecting mineralisation), including orientation of key geological features.

Geotechnical measurements were recorded including Rock Quality Designation (RQD) fracture frequency, solid core recovery and qualitative rock strength measurements.

Magnetic susceptibility measurements were recorded every metre. The bulk density of selected drill core intervals was determined at site on whole core samples.

All geological and geotechnical logging was conducted at Havieron site.

Digital data logging was captured on diamond drill core intervals only, and all data validated and stored in an AcQuire database.

All drill cores were photographed, prior to cutting and/or sampling the core.

The logging is of sufficient quality to support the Mineral Resource estimate.

Sub-sampling techniques and sample preparation

Sampling, sample preparation and quality control protocols are considered appropriate for the material being sampled.

Core was cut and sampled at the Telfer and Havieron core processing facility. Half core samples were collected in pre-numbered calico bags and grouped in plastic bags for dispatch to the laboratory. Sample weights typically varied from 0.5 to 4kg. Sample sizes are considered appropriate for the style of mineralisation. Drill core samples were freighted by air and road to the laboratory.

Sample preparation was conducted at the independent ISO17025 accredited Intertek Laboratory, Perth (Intertek). Samples were dried at 105oC, and crushed to 95% passing 4.75mm, and the split to obtain up to 3kg sub-sample, which was pulverised (using LM5) to produce a pulped product with the minimum standard of 95% passing 106μm, the sample and 10 samples either side are re-ground or re-screened. There are very few instances of <95% passing the second grind. An assessment of the grind size verses Au grade has shown that few mineralised assays are affected by grinding issues.

Duplicate samples were collected from crush and pulp samples at a rate of 1:20. Duplicate results show an acceptable level of variability for the material sampled and style of mineralisation.

Periodic size checks (1:20) for crush and pulp samples and sample weights are provided by the laboratory and recorded in the AcQuire database. 

Quality of assay data and laboratory tests

Assaying of drill core samples was conducted at Intertek. All samples were assayed for 48 elements using a 4-acid digestion followed by ICP-AES/ICP-MS determination (method 4A/MS907), which is considered to provide a total assay for copper. Gold analyses were determined by 50g fire assay with AAS finish (method FA50N/AA), which is considered to provide a total assay for gold.

Sampling and assaying quality control procedures consisted of inclusion of certified reference material (CRMs), coarse residue and pulp duplicates with each batch (at least 1:20).

Assays of quality control samples were compared with reference samples in AcQuire database and verified as acceptable prior to use of data from analysed batches.

Laboratory quality control data, including laboratory standards, blanks, duplicates, repeats and grind size results are captured in the AcQuire database and assessed for accuracy and precision for recent data.

Extended quality control programs including pulp samples submitted to an umpire laboratory and combined with more extensive re-submission programs have been completed.

Analysis of the available quality control sample assay results indicates that an acceptable level of accuracy and precision has been achieved and the database contains no analytical data that has been numerically manipulated.

The assaying techniques and quality control protocols used are considered appropriate for the data to be used for reporting exploration drilling results.

Verification of sampling and assaying

Sampling intervals defined by the geologist are electronically assigned sample identification numbers prior to core cutting. Corresponding sample numbers matching pre-labelled calico bags are assigned to each interval.

All sampling and assay information were stored in a secure AcQuire database with restricted access.

Electronically generated sample submission forms providing the sample identification number accompany each submission to the laboratory. Assay results from the laboratory with corresponding sample identification are loaded directly into the Acquire database.

Assessment of reported significant assay intervals was verified by re-logging of diamond drill core intervals and assessment of high resolution core photography. The verification of significant intersections has been completed by company personnel and the Competent Person/Qualified Person.

No adjustments are made to assay data, and no twinned holes have been completed.

There are no currently known drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data. 

Location of data points

Drill collar locations were surveyed using a differential GPS with GNSS with a stated accuracy of +/- 0.5m for all drill holes reported.

Drill rig alignment was attained using an electronic azimuth aligner. Downhole survey was collected at 6-12m intervals in the cover sequence, and every 6 to 30m in diamond drill core segments of the drill hole using single shot (Axis Mining Champ Gyro). The single shot surveys have been validated using continuous survey to surface (Axis Mining Champ) along with a selection of drill holes re-surveyed by an external survey contactor using a DeviGyro tool - confirming sufficient accuracy for downhole spatial recording.

A LIDAR survey was completed over the project area in Nov 2019 which was used to prepare an DEM / topographic model for the project with a spatial accuracy of +/- 0.1m vertical and +/- 0.3m horizontal. The topography is generally low relief to flat, elevation within the dune corridors in ranges between 250-265m AHD steepening to the southeast. All collar coordinates are provided in the Geocentric Datum of Australian (GDA20 Zone 51). All relative depth information is reported in Australian Height Datum (AHD) +5000m.

Data spacing and distribution

The drill hole spacing ranges from 50-100m within the south-eastern Crescent sulphide zone to 50-300m in lateral extent within the breccia zone over an area of ~2km2. The data spacing is sufficient to establish the degree of geological and grade continuity.

Significant assay intercepts remain open. Further drilling is required to determine the extent of currently defined mineralisation. No sample compositing is applied to samples.

Orientation of data in relation to geological structure

Drill holes exploring the extents of the Havieron mineral system intersect moderately dipping carbonate and siliclastic sedimentary facies, mineralised breccia and sub-vertical intrusive lithologies.  Geological modelling has been interpreted from historic and Newcrest drill holes.

Variable brecciation, alteration and sulphide mineralisation is observed with a footprint with dimensions of 650m x 350m trending in a north west orientation and greater than 1000m in vertical extent below cover.

The subvertical southeast high grade arcuate crescent sulphide zone has an average thickness of 20m and has been defined over a strike length of up to 550m, and over 600m in vertical extent below cover.

Drilling direction is oriented to intersect the steeply dipping high-grade sulphide mineralisation zones at an intersection angle of greater than 40 degrees. The drilled length of reported intersections is typically greater than true width of mineralisation.

Sample security

The security of samples is controlled by tracking samples from drill rig to database.

Drill core was delivered from the drill rig to the Havieron core yard every shift. On completion of geological and geotechnical logging, core was transported by vehicle to Telfer core processing facility by Newcrest personnel.

High resolution core photography and cutting of drill core was undertaken at the Havieron or Telfer core processing facilities.

Samples were freighted in sealed bags by air and road to the Laboratory, and in the custody of Newcrest representatives. Sample numbers are generated directly from the database. All samples are collected in pre-numbered calico bags.

Verification of sample numbers and identification is conducted by the laboratory on receipt of samples, and sample receipt advise issued to Newcrest.

Details of all sample movement are recorded in a database table. Dates, Hole ID sample ranges, and the analytical suite requested are recorded with the dispatch of samples to analytical services. Any discrepancies logged at the receipt of samples into the analytical services are validated.

Audits or reviews

Due to the limited duration of the program, no external audits or reviews have been undertaken. Internal reviews of core handling, sample preparation and assays laboratories were conducted on a regular basis by both project personnel and owner representatives.

In the Competent Persons opinion, the sample preparation, security and analytical procedures are consistent with current industry standards and are entirely appropriate and acceptable for the styles of mineralisation identified and will be appropriate for use in the reporting of exploration results and Mineral Resource estimates. There are no identified drilling, sampling or recovery factors that materially impact the adequacy and reliability of the results of the drilling programme in place at the Havieron Project.

 

 

Section 2 Reporting of Exploration Results

Criteria

Commentary

Mineral tenement and land tenure status

Exploration done by other parties

Newcrest Mining Limited completed six core holes in the vicinity of the Havieron Project from 1991 to 2003. Greatland Gold completed drill targeting and drilling of nine Reverse Circulation (RC) drill holes with core tails for a total of approximately 6,800m in 2018. Results of drilling programs conducted by Greatland Gold have previously been reported on the Greatland Gold website.

Drilling has defined an intrusion-related mineral system with evidence of breccia and massive sulphide-hosted higher-grade gold-copper mineralisation.

Geology

The Havieron Project is located within the north-western exposure of the Palaeo-Proterozoic to Neoproterozoic Paterson Orogen (formerly Paterson Province), 45 km east of Telfer.  The Yeneena Supergroup hosts the Havieron prospect and consists of a 9km thick sequence of marine sedimentary rocks and is entirely overlain by approximately 420m of Phanerozoic sediments of the Paterson Formation and Quaternary aeolian sediments.

Mineralisation at Havieron consist of breccia, vein and massive sulphide replacement gold and copper mineralisation typical of intrusion-related and skarn styles of mineralisation. Mineralisation is hosted by metasedimentary rocks (meta-sandstones, meta-siltstones and meta-carbonate) and intrusive rocks of an undetermined age. The main mineral assemblage contains well developed pyrrhotite-chalcopyrite and pyrite sulphide mineral assemblages as breccia and vein infill, and massive sulphide lenses. The main mineralisation event is associated with amphibole-carbonate-biotite-sericite-chlorite wall rock alteration. Drilling since May 2019 has outlined an ovoid shaped zone of variable brecciation, alteration and sulphide mineralisation with dimensions of 650m x 350m trending in a north west orientation. Breccia mineralisation is identified both internal and external to the sulphide Crescent zone. Mineralisation has been observed to greater than 1000 m below the post mineralisation cover sequence (1400metres below surface) and remains open at depth.

The geological model has been reviewed and validated by GeoAqua Consultants.

Drill hole Information

As provided in Appendix II.

Data aggregation methods

Significant assay intercepts are reported as (A) length-weighted averages exceeding 1.0g/t Au greater than or equal to 10m, with a maximum of 5m consecutive internal dilution; and (B) length-weighted averages exceeding 0.2g/t Au for greater than or equal to 20m, with a maximum of 10m consecutive internal dilution, and (C) intervals of >30g/t with no internal dilution which are greater or equal to 30 gram metres (Au_ppm x length). No top cuts are applied to intercept calculations.

Relationship between mineralisation widths and intercept lengths

Significant assay intervals reported represent apparent widths. Drilling is not always perpendicular to the dip of mineralisation and true widths are less than downhole widths. Estimates of true widths will only be possible when all results are received, and final geological interpretations have been completed.

Diagrams

As provided in body of announcement.

Balanced reporting

 This is the twelfth release of Exploration Results for this project made by Newcrest.

·     The initial Newcrest release is dated 25 July 2019.

·     The second release is dated 10 September 2019.

·     The third release is dated 24 October 2019.

·     The fourth release is dated 2 December 2019.

·     The fifth release is dated 30 January 2020.

·     The sixth release is dated 11 March 2020.

·     The seventh release is dated 30 April 2020.

·     The eighth release is dated 11 June 2020.

·     The ninth release is dated 23 July 2020.

·     The tenth release is dated 10 September 2020.

·     The eleventh release is dated 29 October 2020.

Earlier reporting of exploration programs conducted by Newcrest and Greatland Gold have previously been reported. Exploration drilling programs are ongoing and further material results will be reported in subsequent Newcrest releases.

Other substantive exploration data

Nil.

Further work

Mineralisation at the Havieron deposit has been identified internally and externally to the Crescent zone, including targets which remain open to the east, northwest and southeast. Mineralisation has been observed to greater than 1000m in vertical extent below the post mineral cover sequence and remains open at depth. The extents of the Havieron system are still to be defined.

Growth drilling in calendar year 2021 will continue to focus on the above potential extensions and definition of the identified zones. Infill drilling is underway on the top 350 vertical metres of the South Eastern Crescent within the existing resource outline, looking to upgrade the resource category to Indicated.

 

APPENDIX II

Drillhole Data

Havieron Project, Paterson, Western Australia

Reporting Criteria: Intercepts reported are downhole drill width (not true width) Au >0.20ppm (0.2g/t Au) and minimum 20m downhole width with maximum consecutive internal dilution of 10m. Average grades are based on length-weighting of uncut sample grades. Also highlighted are high grade intervals of Au >1.0ppm (1g/t Au) and minimum 10m downhole width with maximum consecutive internal dilution of 5m, and intervals of >30g/t with no internal dilution which are greater or equal to 30 gram metres (Au_ppm x length) are tabled. Gold grades are reported to two significant figures, the downhole lengths are rounded to 0.1m which may cause some apparent discrepancies in interval widths. Samples are from core drilling which is PQ, HQ or NQ in diameter. Core is photographed and logged by the geology team before being cut. Half core PQ, HQ and NQ samples are prepared for assay and the remaining material is retained in the core farm for future reference. Each assay batch is submitted with duplicates and standards to monitor laboratory quality. Total depth (end of hole) is rounded to one decimal place for reporting purposes. Collars denoted with a * show partial results, with further significant assays to be reported in subsequent exploration updates.

Hole ID denoted with * partial results, assays pending; ** partial intercept, assays pending; ^ updated intercept or ^^ previously reported.

Hole ID

Hole Type

Easting (m)

Northing (m)

RL (m)

Total Depth (m)

Azimuth

Dip

From (m)

To (m)

Interval (m)

Au (ppm)

Cu (pct)

Cut off

HAD048W1

 MR-DD

464275

7598205

5257

1553.8

225

-67

1051.9

1053

1.1

64

0.26

30 g/t Au

 

 

 

 

 

 

 

 

1120

1144

24

0.34

0.12

0.2 g/t Au

 

 

 

 

 

 

 

 

1163

1186

23

0.48

0.14

0.2 g/t Au

 

 

 

 

 

 

 

 

1203.3

1238.8

35.6

1.3

0.45

0.2 g/t Au

 

 

 

 

 

 

 

 

1362

1383

21

0.56

0.03

0.2 g/t Au

HAD056W1

 MR-DD

463803

7597804

5257

817

108

-56

598

803.8

205.8

1.2

0.24

0.2 g/t Au

 

 

 

 

 

 

 

incl

658

673.2

15.2

3.6

0.31

1.0 g/t Au

 

 

 

 

 

 

 

incl

722

753.8

31.8

3.1

0.38

1.0 g/t Au

 

 

 

 

 

 

 

incl

771.4

796.4

25

2.5

0.83

1.0 g/t Au

HAD057W4

 MR-DD

464460

7598027

5257

1231.4

225

-55

982

1018

36

0.35

0.04

0.2 g/t Au

 

 

 

 

 

 

 

 

1029

1129

100

2.1

0.05

0.2 g/t Au

 

 

 

 

 

 

 

incl

1089.3

1108.6

19.3

6.2

0.07

1.0 g/t Au

 

 

 

 

 

 

 

incl

1115.4

1116.3

0.9

46

1.5

30 g/t Au

 

 

 

 

 

 

 

 

1160

1189

29

0.34

0.02

0.2 g/t Au

HAD065W2

 MR-DD

463662

7598395

5256

1644.9

139

-60

741.2

769.5

28.3

0.31

0.50

0.2 g/t Au

 

 

 

 

 

 

 

 

800

824.8

24.8

0.64

0.13

0.2 g/t Au

 

 

 

 

 

 

 

incl

809

820

11

1.0

0.08

1.0 g/t Au

 

 

 

 

 

 

 

 

837

860.7

23.7

2.6

0.08

0.2 g/t Au

 

 

 

 

 

 

 

incl

840.1

840.6

0.5

102

0.68

30 g/t Au

 

 

 

 

 

 

 

 

964

991

27

0.40

0.05

0.2 g/t Au

 

 

 

 

 

 

 

 

1207.4

1270.2

62.8

1.8

0.06

0.2 g/t Au

^^ 

 

 

 

 

 

 

 

1315

1336.4

21.4

0.39

0.08

0.2 g/t Au

^^ 

 

 

 

 

 

 

 

1349.3

1470

120.7

9.3

0.18

0.2 g/t Au

^^ 

 

 

 

 

 

 

incl

1351.1

1362.8

11.7

7.7

0.03

1.0 g/t Au

^^ 

 

 

 

 

 

 

incl

1384.4

1411

26.6

34

0.23

1.0 g/t Au

HAD081W1

 MR-DD

463408

7597522

5263

1177

43

-57

762

808

46

0.4

0.06

0.2 g/t Au

 

 

 

 

 

 

 

 

847.3

913.5

66.1

0.41

0.04

0.2 g/t Au

 

 

 

 

 

 

 

 

980.2

1019

38.8

0.32

0.05

0.2 g/t Au

HAD081W2

 MR-DD

463408

7597522

5263

928

43

-57

833.8

867

33.2

1.4

0.14

0.2 g/t Au

 

 

 

 

 

 

 

 

881.6

927

45.4

0.3

0.04

0.2 g/t Au

HAD083W1

 MR-DD

463544

7597519

5262

1282.1

43

-62

695

733

38

0.88

0.22

0.2 g/t Au

 

 

 

 

 

 

 

incl

715.7

726

10.3

2.4

0.43

1.0 g/t Au

 

 

 

 

 

 

 

 

772.4

905

132.6

0.9

0.08

0.2 g/t Au

 

 

 

 

 

 

 

incl

880

890

10

2.3

0.07

1.0 g/t Au

 

 

 

 

 

 

 

 

915.2

1098.5

183.3

0.87

0.13

0.2 g/t Au

 

 

 

 

 

 

 

incl

925

941.6

16.6

1.0

0.08

1.0 g/t Au

 

 

 

 

 

 

 

incl

1009.1

1010

0.9

55

0.05

30 g/t Au

 

 

 

 

 

 

 

incl

1009.1

1021

11.9

6.7

0.65

1.0 g/t Au

HAD095

 MR-DD

464351

7597547

5259

1387.2

312

-56

673.6

700.4

26.8

0.29

0.07

0.2 g/t Au

 

 

 

 

 

 

 

 

787

835.3

48.3

0.26

0.09

0.2 g/t Au

 

 

 

 

 

 

 

 

865.1

906.2

41.1

0.24

0.09

0.2 g/t Au

 

 

 

 

 

 

 

 

981.8

1088

106.2

0.79

0.10

0.2 g/t Au

 

 

 

 

 

 

 

incl

1052

1065

13

2.6

0.15

1.0 g/t Au

 

 

 

 

 

 

 

incl

1072

1085

13

1.9

0.26

1.0 g/t Au

 

 

 

 

 

 

 

 

1102

1138

36

0.40

0.32

0.2 g/t Au

HAD096

 MR-DD

463718

7597355

5262

898

31

-61

707

799

92

0.99

0.13

0.2 g/t Au

 

 

 

 

 

 

 

 

810

850.5

40.5

0.46

0.04

0.2 g/t Au

HAD097W2

 MR-DD

464437

7598087

5257

1081.6

222

-63

849.4

878

28.6

2.7

0.17

0.2 g/t Au

 

 

 

 

 

 

 

incl

854.9

855.9

1

47

0.10

30 g/t Au

 

 

 

 

 

 

 

 

888.1

922.8

34.7

0.54

0.07

0.2 g/t Au

 

 

 

 

 

 

 

 

937.8

1057

119.2

2.7

0.40

0.2 g/t Au

 

 

 

 

 

 

 

incl

1010.6

1013.4

2.8

65

0.46

30 g/t Au

 

 

 

 

 

 

 

incl

1045

1046.4

1.4

39

1.5

30 g/t Au

HAD098

 MR-DD

463591

7597381

5264

1567.1

38

-61

784.3

807

22.7

0.22

0.02

0.2 g/t Au

 

 

 

 

 

 

 

 

835.1

874.8

39.7

1.1

0.28

0.2 g/t Au

 

 

 

 

 

 

 

incl

851.6

866.1

14.4

2.9

0.72

1.0 g/t Au

 

 

 

 

 

 

 

 

981

1004

23

0.39

0.06

0.2 g/t Au

 

 

 

 

 

 

 

 

1014.6

1085.1

70.4

0.46

0.08

0.2 g/t Au

 

 

 

 

 

 

 

 

1096

1240.8

144.8

0.67

0.16

0.2 g/t Au

 

 

 

 

 

 

 

incl

1118.5

1131

12.5

1.1

0.07

1.0 g/t Au

 

 

 

 

 

 

 

incl

1143.5

1153.6

10.1

2.6

0.06

1.0 g/t Au

 

 

 

 

 

 

 

incl

1178.5

1188.8

10.3

2.7

0.17

1.0 g/t Au

 

 

 

 

 

 

 

 

1494.9

1554

59.1

0.48

0.11

0.2 g/t Au

HAD101

 MR-DD

463591

7597480

5261

1798.1

40

-67

830

865.4

35.4

0.39

0.02

0.2 g/t Au

 

 

 

 

 

 

 

 

879.4

939

59.6

0.77

0.21

0.2 g/t Au

 

 

 

 

 

 

 

incl

895

908

13

1.6

0.35

1.0 g/t Au

 

 

 

 

 

 

 

 

982.5

1011

28.5

0.33

0.02

0.2 g/t Au

 

 

 

 

 

 

 

 

1032.3

1073.3

41

0.34

0.08

0.2 g/t Au

 

 

 

 

 

 

 

 

1083.8

1231

147.2

1.1

0.18

0.2 g/t Au

 

 

 

 

 

 

 

incl

1129.2

1181

51.8

1.6

0.25

1.0 g/t Au

 

 

 

 

 

 

 

incl

1137

1138

1

32

0.28

30 g/t Au

 

 

 

 

 

 

 

incl

1213

1228.7

15.7

4.2

0.41

1.0 g/t Au

 

 

 

 

 

 

 

 

1296

1388.5

92.5

1.9

0.06

0.2 g/t Au

 

 

 

 

 

 

 

incl

1350

1365.6

15.6

4.8

0.02

1.0 g/t Au

 

 

 

 

 

 

 

incl

1373

1387

14

6.2

0.10

1.0 g/t Au

 

 

 

 

 

 

 

incl

1385

1386

1

45

0.44

30 g/t Au

 

 

 

 

 

 

 

 

1503.2

1526.4

23.3

0.6

0.05

0.2 g/t Au

 

 

 

 

 

 

 

 

1593

1646.3

53.3

1.5

0.25

0.2 g/t Au

 

 

 

 

 

 

 

incl

1619

1638.7

19.7

1.9

0.20

1.0 g/t Au

 

 

 

 

 

 

 

 

1715.6

1737.2

21.6

0.2

0.12

0.2 g/t Au

HAD102

 MR-DD

463793

7597797

5257

727.1

30

-66

481.4

510

28.6

1.0

0.05

0.2 g/t Au

 

 

 

 

 

 

 

 

620.3

653

32.7

0.23

0.06

0.2 g/t Au

HAD103

 MR-DD

463655

7597515

5262

873.7

39

-55

682

709.2

27.2

0.2

0.03

0.2 g/t Au

 

 

 

 

 

 

 

 

728

764

36

0.33

0.02

0.2 g/t Au

 

 

 

 

 

 

 

 

776.4

867

90.6

2.3

0.18

0.2 g/t Au

 

 

 

 

 

 

 

incl

822.7

825.1

2.4

67

0.33

30 g/t Au

HAD105

 MR-DD

463654

7597509

5262

1314

36

-67

734

790.4

56.4

0.43

0.10

0.2 g/t Au

 

 

 

 

 

 

 

 

801.6

1100.4

298.8

1.2

0.11

0.2 g/t Au

 

 

 

 

 

 

 

incl

821

836.8

15.8

3.5

0.22

1.0 g/t Au

 

 

 

 

 

 

 

incl

908

908.9

0.9

38

0.59

30 g/t Au

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DRLXKLLBBLLEFBD