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Greatland Gold PLC (GGP)

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Monday 02 December, 2019

Greatland Gold PLC

New Outstanding Drill Results at Havieron

RNS Number : 2477V
Greatland Gold PLC
02 December 2019
 

2 December 2019

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

Greatland Gold plc

("Greatland" or "the Company")

 

New Outstanding Drill Results at Havieron Extend the Strike Length of High-Grade Mineralisation

 

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 100% owned Havieron licence in the Paterson region of Western Australia.

 

Summary

 

·     Outstanding, high-grade results from Newcrest's drilling campaign at Havieron significantly extend zones of high-grade mineralisation to the north.

·     Step out drill hole HAD023 intersects high-grade mineralisation 300 metres north of HAD005:

107m @ 2.2g/t Au from 656m, including 21m @ 10g/t Au from 665m (HAD023)

·     Newcrest has completed Stage 1 of the Farm-in Agreement (US$10 million in expenditure) and has commenced Stage 2 (additional US$10 million in expenditure).

·     Six drill rigs to remain operational during the Australian summer period (December - March), subject to adverse weather conditions, with a planned two week shutdown over Christmas.

 

Gervaise Heddle, Chief Executive Officer of Greatland Gold plc, commented: "These outstanding results significantly extend the known limits of high-grade mineralisation, particularly to the north. It has become clear that the size of the mineralised footprint now significantly exceeds our initial expectations.

 

 "We are very pleased by Newcrest's continued enthusiasm and commitment to the project, and we look forward to providing further updates on Havieron as drilling continues through the Australian summer period."

 

Greatland notes the release of an ASX announcement titled "Exploration Update - Havieron" by Newcrest Mining Ltd ("Newcrest") earlier today which highlights "Drilling returns high grade results at Havieron".

 

Final assay results for HAD019, HAD020, HAD021 and HAD025, and partial assay results for HAD023 and HAD028, representing 6,652m of drilling, have been received and are announced today.

 

Highlights of Latest Drill Results:

 

·     HAD020: A 100m step out hole to the west of HAD014 to test for mineralisation beneath HAD005 and HAD014. Assay results (final) include:

122.9m @ 1.7g/t Au, 0.36% Cu from 673m, including

§ 14.6m @ 9.1g/t Au, 0.48% Cu from 705m

114.8m @ 0.84g/t Au, 0.13% Cu from 809.2m, including

§ 10m @ 3.4g/t Au, 0.01% Cu from 895m

184.5m @ 0.81g/t Au, 0.44% Cu from 1,096.5m, including

§ 27.2m @ 2.8g/t Au, 0.54% Cu from 1,134m

 

·     HAD021: A 75m step out hole to the east of HAD013 to test for high grade mineralisation between HAD013 and HAD017. Assay results (final) include:

128m @ 3.4g/t Au, 0.44% Cu from 670m, including

§ 13m @ 13g/t Au, 1.1% Cu from 770m

110.7m @ 1.9g/t Au, 0.12% Cu from 1,039.3m

 

·     HAD023: A 100m step out hole to the north of HAD015 (300m north of HAD005), the most northern hole to be drilled on the project to date. Assay results (partial) include:

107m @ 2.2g/t Au, 0.22% Cu from 656m, including

§ 21m @ 10g/t Au, 0.74% Cu from 665m

 

·     HAD025: Drilled west to east, hole collared approximately 75m north of HAD005. Assay results (final) include:

118m @ 1.0g/t Au, 0.08% Cu from 580m, including

§ 12m @ 3.9g/t Au, 0.21% Cu from 612m

39m @ 6.5g/t Au, 0.40% Cu from 764m, including

§ 10.6m @ 22g/t Au, 1.3% Cu from 764.9m

 

·     HAD028: Drilled east to west, hole collared approximately 125m northeast of HAD013 and represents a significant step out to the east. Assay results (partial) include:

45.8m @ 6.8g/t Au, 0.51% Cu from 543.2m, including

§ 32m @ 9.2g/t Au, 0.67% Cu from 555m

 

·     HAD019: Drill hole was stopped at 530m due to revised targeting.

 

·     An additional 18 holes (HAD022, HAD026, HAD029, HAD031-HAD045) are at various stages of progress and further assay results are awaited. HAD024 is at pre-collar stage and HAD027 and HAD030 were stopped in the cover sequence.

 

Next Steps for Havieron:

 

·     Newcrest has commenced Stage 2 of the Farm-in Agreement (additional US$10 million in expenditure).

·     Six drill rigs to remain operational during Australian summer period (December - March), subject to adverse weather events and a planned two week shutdown over the Christmas period.

·     Based on results to date, the trend of mineralisation appears to be heading to the north-west. In order to test the extent and continuity of the interpreted mineralised trend, Newcrest has recently changed the orientation of drilling from E-W to SW-NE.

·     Baseline environmental studies have commenced and preliminary work for metallurgical and geotechnical studies is being conducted.

·     Further drilling over the next 9-12 months will target the delivery of a maiden resource estimate for Havieron.

 

"There are many positive developments highlighted by these results, but I would like to focus on two in particular. First, the outstanding results from a significant step out hole, HAD023, which intersected high-grade mineralisation (including 21m @ 10g/t Au, 0.74% Cu from 665m) over 300 metres north of one of Greatland's early outstanding holes, HAD005, thereby significantly extending the known limits of high-grade mineralisation", continued Gervaise Heddle.

 

"Second, I would also like to draw investors' attention to the multiple high-grade intercepts contained within these results (including 10.6m @ 22g/t Au, 1.3% Cu from 764.9m (HAD025) and 32m @ 9.2g/t Au, 0.67% Cu from 555m (HAD028)), all of which serve to further boost our confidence in the potential for a significant high-grade resource at Havieron within the next 9-12 months", concluded Gervaise Heddle.

 

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

 

Background to Havieron and Farm-in Agreement with Newcrest

 

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 project in the Paterson region of Western Australia. Newcrest has the right to acquire up to a 70% interest in a 12-block area within E45/4701 that covers the Havieron target by spending up to US$65m.

 

Greatland's Paterson project covers more than 385 square kilometres in the Paterson region of Western Australia and includes the Havieron licence, the Paterson Range East licence, and the Black Hills licence.

 

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

 

Further Information on Newcrest Drilling and Operations at Havieron

 

The Havieron Project is operated by Newcrest under a Farm-in Agreement with Greatland. It is centred on a magnetic anomaly located 45km east of Telfer. The target is overlain by more than 420m of post mineral cover. Newcrest commenced drilling during the June 2019 quarter.

 

Final assay results have been received for HAD019, HAD020, HAD021, HAD025 with partial results received for HAD023 and HAD028, representing 6,652m of drilling. HAD019 was stopped at 530m downhole and was not progressed due to revised targeting. HAD024 is at pre-collar stage and two holes were stopped in the cover sequence (HAD027 and HAD030), while assays are pending for multiple holes (including HAD022, HAD026 and HAD029).

 

Hole HAD020 is a 100m step out to the west of HAD014 to test for mineralisation beneath HAD005 and HAD014 (HAD014 - 75.3m @ 3.4g/t Au from 816.6m). Assay results include:

 

·     HAD020:               122.9m @1.7g/t Au, 0.36% Cu from 673m

Incl 14.6m @ 9.1g/t Au, 0.48% Cu from 705m and

114.8m @ 0.84g/t Au 0.13% Cu from 809.2m

Incl 10m @ 3.4g/t Au, 0.01% Cu from 895m and

184.5m @ 0.81g/t Au 0.44% Cu from 1096.5m

Incl 27.2m @ 2.8g/t Au, 0.54% Cu from 1134m

 

Hole HAD021 is a 75m step out to the east of HAD013 to test for high grade mineralisation between HAD013 and HAD017 (HAD017 - 45m @ 7.1g/t Au from 1077m). Assay results include:

 

·     HAD021:               128m @ 3.4g/t Au, 0.44% Cu from 670m

Incl 13m @ 13g/t Au, 1.1% Cu from 770m and

110.7m @ 1.9g/t Au, 0.12% Cu from 1039.3m

 

Hole HAD023 is a 100m step out to the north of HAD015 and is the most northern hole to be drilled on the project to date (HAD015 - 28m @ 0.96g/t Au from 979m). Importantly, results confirm the presence of high grade mineralisation within broad intersections of gold well north of previous drilling with assay results which include:

 

·     HAD023:               107m @ 2.2g/t Au, 0.22% Cu from 656m 

Incl 21m @ 10g/t Au, 0.74% Cu from 665m

 

Hole HAD025 is a west to east drill hole collared approximately 75m north of HAD005 (HAD005 - 128m @ 7.4g/t Au from 660m). Amongst broad widths of significant gold mineralisation, high grade intervals have again been delineated. Also of significance are widths of strong copper mineralisation.  Assay results include:

 

·     HAD025:               118m @ 0.99g/t Au, 0.08% Cu from 580m 

Incl 12m @ 3.9g/t Au, 0.21% Cu from 612m and

39m @ 6.5g/t Au, 0.40% Cu from 764m

Incl 10.6m @ 22g/t Au, 1.3% Cu from 764.9m

 

Hole HAD028 is an east to west drill hole collared approximately 125m northeast of HAD013 and represents a significant step out to the east (HAD013 - 36m @ 4.1g/t Au from 481m). Thick intervals of high grade gold mineralisation are again reported.  Assay results include:

 

·     HAD028:               45.8m @ 6.8g/t Au, 0.51% Cu from 543.2m 

Incl 32m @ 9.2g/t Au, 0.67% Cu from 555m

 

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

 

Combined with previously released results, these new analytical results from drill holes HAD020 through HAD028 are considered outstanding. Results confirm broad widths of gold mineralisation at Havieron. Continuity of high-grade gold mineralisation continues to be defined across the system and importantly, step out drilling (HAD023) has broadened mineralised extents a further 100m north of previously reported results (300m north of HAD005).

 

Drilling programmes at Havieron are ongoing with an additional 18 holes (HAD022, HAD026, HAD029, HAD031-HAD045) at various stages of progress and further assay results are awaited.

 

Newcrest has provided notice to Greatland that Newcrest has completed Stage 1 of the Farm-in Agreement (US$10 million in expenditure) and has commenced Stage 2 of the Farm-in (additional US$10 million in expenditure). Six drill rigs are to remain operational during the Australian summer period (December - March), subject to adverse weather events and a planned two week shutdown over Christmas.

 

Based on results to date, the trend of mineralisation appears to be heading to the north-west. In order to test the extent and continuity of the interpreted mineralised trend, Newcrest has recently changed the orientation of drilling from E-W to SW-NE.

 

Baseline environmental studies have commenced and preliminary work for metallurgical and geotechnical studies is being conducted. Further drilling over the next 9-12 months will target the delivery of a maiden resource estimate for Havieron.

 

Mineralisation at Havieron 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.

 

 

Competent Person:

 

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

 

"Exploration Update - Havieron", dated 2 December 2019

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

"Exploration Update - Havieron", dated 10 September 2019

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

 

Information in this announcement, which has been taken from Newcrest Mining Limited's announcement " Exploration Update - Havieron", dated 2 December 2019, has been reviewed and approved by Mr Mick Sawyer, a member of the Australian Institute of Geoscientists and a Registered Professional Geoscientist (R.P.Geo #10194), who has more than 15 years relevant industry experience. Mr Sawyer is Exploration Manager and a full-time employee of Greatland Pty Ltd, and holds employee options in Greatland Gold plc. Mr Sawyer, 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 Sawyer consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears. The company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcement. The company confirms 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: https://greatlandgold.com/media/jorc/ 

 

 

Enquiries:

 

Greatland Gold PLC

Gervaise Heddle/Callum Baxter

Tel: +44 (0)20 3709 4900

Email:  [email protected]

www.greatlandgold.com

 

SPARK Advisory Partners Limited (Nominated Adviser)

Andrew Emmott/James Keeshan

Tel: +44 (0)20 3368 3550

 

SI Capital Limited (Joint Broker)

Nick Emerson/Alan Gunn

Tel:  +44 (0)14 8341 3500

 

Numis Securities Limited (Joint Broker)

John Prior/Paul Gillam/Alamgir Ahmed

Tel: +44 (0)20 7260 1000

 

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 gold, copper and nickel exploration projects.

 

The Company has six main projects; four situated in Western Australia and two in Tasmania.  All projects are 100% owned by Greatland.

 

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 project in the Paterson region of Western Australia. Newcrest has the right to acquire up to a 70% interest in a 12-block area within E45/4701 that covers the Havieron target by spending up to US$65 million.

 

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 farm-in agreement): JORC Table 1

Section 1 Sampling Techniques and Data

Criteria

Commentary

Sampling techniques

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

Drilling techniques

Permian Paterson Formation cover sequence was drilled using mud rotary drilling and Reverse Circulation drilling (HAD023 only). Depths of cover typically observed to approximately 420 m vertically below surface. Steel casing was emplaced to secure the pre-collar.

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

Diamond core from inclined drill holes are oriented on 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

Diamond core recovery is systematically recorded from the commencement of diamond 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.

Diamond 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 diamond core drilled), 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.

Sub-sampling techniques and sample preparation

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

Diamond core was cut and sampled at the Telfer 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 4 kg. 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 Intertek Laboratory, Perth. Samples were dried at 105oC, and crushed to 95% passing 4.75 mm, and the split to obtain up to 3 kg sub-sample, which was pulverised (using LM5) to produce a pulped product with the minimum standard of 95% passing 106 μm.

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 diamond drill core samples was conducted at Intertek, Perth. All samples were assayed for 48 elements using a 4-acid digestion followed by ICP-AES/ICP-MS determination (method 4A/MS907). Gold analyses were determined by 50 g fire assay with AAS finish (method FA50N/AA).

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 Acquire database and assessed for accuracy and precision for recent data.

Due to the limited extent of the drilling program to date, extended quality control programs are yet to be undertaken, whereby pulped samples will be submitted to an umpire laboratory and combined with more extensive re-submission programs.

Analysis of the available QC 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.

No adjustments are made to assay data, and no twinned holes have been completed. Drilling intersects mineralisation at various angles. 

Drill collar locations were surveyed using a differential GPS with GNSS with a stated accuracy of +/- 0.5m for drill holes HAD019, HAD020, HAD021, HAD023, HAD025, and handheld GPS with +/-3 m accuracy for drill holes HAD028.  

Drill rig alignment was attained using an electronic azimuth aligner. Downhole survey was collected at 6-12 m intervals in the cover sequence, and every 6 to 30 m in diamond drill core segments of the drill hole. At the end of hole, all holes have been surveyed using a continuous gyro survey to surface (Axis Mining Champ Gyro).

Topographic control is established from SRTM (1 second) topographic data and derived digital elevation model. The topography is generally low relief to flat, with an average elevation of 265 m, within dune corridors.

All collar coordinates are provided in the Geocentric Datum of Australian (GDA94 Zone 51S). 

Data spacing and distribution

The drill hole spacing ranges from 50 - 500 m in lateral extent within an area of 1.5 square kilometres.

The current drill hole spacing does not provide sufficient information for the estimation of a Mineral Resource.

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

Drilling of reported holes HAD019, HAD020, HAD021, HAD023, HAD025, HAD028 are oriented perpendicular to a central dolerite dyke. The dolerite dyke has a north-south orientation, with drilling established on an east-west orientation. 

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. Steeply dipping mineralised zones with a north-south orientation have been interpreted from historic and Newcrest drill holes.

There is presently insufficient information to confirm the geological model or true thickness of mineralised intervals.

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 Telfer core processing facility.

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 verification and audit of Newcrest exploration procedures and databases are periodically undertaken.

 

Section 2 Reporting of Exploration Results

 

Criteria

Commentary

Mineral tenement and land tenure status

The Havieron Project is entirely contained within 12 sub-blocks of E45/4701, which is 100% owned by Greatland Pty Ltd. Newcrest has entered into an Exploration Farm-In (EFI) agreement with Greatland Pty Ltd and Greatland Gold Plc effective 12 March, 2019, with Newcrest as Manager of the Havieron Project. The Stage 1 expenditure commitment of US$10mln under the Farm-in agreement with Greatland Gold has been met and Newcrest has provided notice that it wishes to proceed to Stage 2.

There is a current ILUA (Indigenous Land Use Agreement) signed in December 2015 which extends to the Havieron Project. 

All obligations with respect to legislative requirements including minimum expenditure are maintained in good standing. The exploration tenement E45/4701 was first granted 17th July 2017 for 5 years, expiring 16th July, 2022.

Exploration done by other parties

Newcrest Mining Limited completed six diamond core holes in the vicinity of the Havieron Project from 1991 to 2003. Greatland Gold completed drill targeting and drilling of 9 Reverse Circulation (RC) drill holes with diamond tails for a total of approximately 6,800 m in 2018. Results of drilling programs conducted by Greatland Gold have previously been reported on the Greatland Gold web site.

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 9 km thick sequence of marine sedimentary rocks, and is entirely overlain by approximately 420 m of Phanerozoic sediments of the Paterson Formation and Quaternary aeolian sediments.

Gold and copper 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 at the prospect 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.

Drill hole Information

As provided.

Data aggregation methods

Significant assay intercepts are reported as (A) length-weighted averages exceeding 1.0 g/t Au greater than or equal to 10 m, with less than 5 m of consecutive internal dilution; and (B) length-weighted averages exceeding 0.2 g/t Au for greater than or equal to 20 m, with less than 10 m of consecutive internal dilution. No top cuts are applied to intercept calculations.

Relationship between mineralisation widths and intercept lengths

Significant assay intervals reported represent apparent widths. Insufficient geological information is available to confirm the geological model and true width of significant assay intervals.

Diagrams

As provided.

Balanced reporting

This is the fourth release of Exploration Results for this project made by Newcrest. The initial Newcrest release is dated the 25th July 2019. The second release is dated the 10th September 2019. The third release is dated the 24th October 2019. 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

Further work is planned to evaluate exploration opportunities that extend the known mineralisation. Initial drilling conducted by Newcrest has confirmed higher grade mineralisation, broadened mineralised extents defined by prior drilling and extended the depth of observed mineralisation of the Havieron prospect. The results of drilling to date indicate the limits of mineralisation have been closed off to the east, and south, and remain open to the north, and at depth. Drilling programs at Havieron are ongoing with 6 drill rigs currently in operation. 

 

APPENDIX II

Drillhole Data

Havieron Prospect, Paterson, Western Australia

Reporting Criteria: Intercepts reported are Au >0.20ppm (0.2g/t Au) and minimum 20m downhole width with maximum consecutive internal dilution of 10m. Also highlighted are high grade intervals of Au >1.0ppm (1g/t Au) or Cu >5000ppm (0.5%), and minimum 10m downhole width with maximum consecutive internal dilution of 5m. Au grades are reported to two significant figures. Samples are from diamond 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) rounded to 1 decimal place for reporting purposes.

Hole ID

Hole Type

Easting (m)

Northing (m)

RL

(m)

Total Depth (m)

Azi

Dip

From (m)

To (m)

Inter (m)

Au (g/t)

Cu (pct)

Cut off

HAD019

MR-DD

464450

7597497

259

530

269

-65.2

No significant result

HAD020

MR-DD

463750

7597651

260

1452.1

90

-68

527

609.4

82.4

0.71

0.09

0.2 g/t Au








incl

547

578

31

1.3

0.19

1.0 g/t Au









622.4

659.2

36.8

0.53

0.14

0.2 g/t Au








incl

639.8

650.8

11

1.6

0.36

1.0 g/t Au









673

795.9

122.9

1.7

0.36

0.2 g/t Au








incl

705

719.6

14.6

9.1

0.48

1.0 g/t Au









809.2

924

114.8

0.84

0.13

0.2 g/t Au








incl

895

905

10

3.4

0.01

1.0 g/t Au









1096.5

1281

184.5

0.81

0.44

0.2 g/t Au








incl

1134

1161.2

27.2

2.8

0.54

1.0 g/t Au








and

1172

1184

12

2

0.44

1.0 g/t Au









1298

1336

38

0.25

0.22

0.2 g/t Au

HAD021

MR-DD

464502

7597646

258

1457.8

270

-65

513

533

20

0.31

0.01

0.2 g/t Au









670

798

128

3.4

0.44

0.2 g/t Au








incl

670

744

74

3.3

0.48

1.0 g/t Au








and

770

783

13

13

1.1

1.0 g/t Au









890.9

945

54.1

0.68

0.09

0.2 g/t Au









998

1026

28

1.6

0.04

0.2 g/t Au









1039.3

1150

110.7

1.9

0.12

0.2 g/t Au








incl

1060

1072

12

1.7

0.12

1.0 g/t Au








and

1129

1150

21

3.1

0.15

1.0 g/t Au









1190

1222

32

0.97

0.06

0.2 g/t Au








incl

1202

1212.2

10.2

2.7

0.16

1.0 g/t Au









1332.2

1356

23.8

3.3

0.58

0.2 g/t Au








incl

1332.2

1349.7

17.5

4.4

0.79

1.0 g/t Au

HAD023*

RC-DD

464448

7597900

257

1638.2

270

-64

494

522

28

0.26

0.01

0.2 g/t Au









656

763

107

2.2

0.22

0.2 g/t Au








incl

665

686

21

10

0.74

1.0 g/t Au









997

1056

59

0.65

0.28

0.2 g/t Au









1035

1045

10

1.7

0.37

1.0 g/t Au

HAD025

MR-DD

463910

7597711

257

1023.1

90

-63

580

698

118

0.99

0.08

0.2 g/t Au








incl

612

624

12

3.9

0.21

1.0 g/t Au









764

803

39

6.5

0.40

0.2 g/t Au








incl

764.9

775.5

10.6

22

1.3

1.0 g/t Au









864.9

894

29.1

0.39

0.28

0.2 g/t Au

HAD028**

MR-DD

464499

7597744

258

1632

270

-62.8

543.2

589

45.8

6.8

0.51

0.2 g/t Au








incl

555

587

32

9.2

0.67

1.0 g/t Au









635

660

25

1.5

0.02

0.2 g/t Au









825

851

26

0.34

0.02

0.2 g/t Au









865

888

23

0.84

0.06

0.2 g/t Au


*assay results for HAD023 received to 1208m

**assay results for HAD028 received to 984m

 


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