Greatland Gold 9th November

RNS:(6th Nov) Greatland Gold PLC (LON: GGP) RNS: First Phase of Drilling Completed at Paterson South Project

Shaun Day joins Liam to discuss the RNS (dated 6th November 2023) https://polaris.brighterir.com/public/greatland_gold/news/rns/story/w9nzo4r

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Liam
you’re watching Aim On Air, where specialising and connecting companies with its shareholders
is what we do best.

Liam
Hello, and welcome back to Aim On Air. My name’s Liam, and today I’m pleased to be hosting Shaun
Day. Welcome to the show, Shaun.

Shaun
Hi, Liam. Thanks very much for having me on the show again.

Liam
The first phase of drilling has been completed at Patterson South Project, and you’ve effectively
tested the magnetic source of both Stingray and Deca targets. Are you pleased with these results?

Shaun
Yeah, look, I think we are pleased. I think I’ve spoken on this programme and others before about
a very technical approach to exploration. We try to put in one or two holes. Often with this geophysics,
you’ve got a reasonable plus or minus, say 100 to 200 metres on the location of the anomaly. So
the first hole to go in there is really to better understand that stratigraphy and recalculate
based on some downhole or more accurate geophysics and then we can come back and better test
that target. So we’re kind of comfortable with the first drilling program. We’re trying to
understand again the geophysics of whether we think we’ve tested those targets. I think at
Stingray we had a small amount of mineralisation. We’re not excited about that per se, other
than to say it’s good to see there’s some mineralisation in that area where we’re hoping there
would be. So I think it’s, you know, it’s a step along the pathway.

Liam
Wonderful, thank you. There’s been no economic gold or copper grades identified at Decker.
Does that mean that’s the end of the exploration there?

Shaun
Look, we’ll recalibrate and understand whether we’ve tested the target. There’s a range of
outcomes there. One is that we feel we’ve bullseyes the target, in which case we may say, oh no,
we’ve tested it. What we like to, again, it’s a technical approach, is we like to satisfy ourselves
that we’ve explained the geophysical anomaly. And this might be, there are various conductivity
and matter that can kind of cause those geophysical anomalies. So I’m not sure that the team
presently feels like they have explained it, in which case there will be follow -up drilling.
But I probably would like to first wait till they’ve finished that update before commenting,
you know, definitively whether we’ll do more testing there on either of those anomalies, Stingray
or Decker.

Liam
That makes sense. Thank you. So what’s next for Paterson South exploration program?

Shaun
Yeah, look, we’re actually re -budgeting the new year. Look, my favourite probably remains
Strickland, which is further up along Strike on the north. But, you know, there’s literally,
you know, with Budgie Downs and across a number of those areas, there’s literally dozens of
we regard as tier one targets. Again, as I think I’ve said before, I think it’s always hard to
rank the high quality targets. If it was as easy as just going for the biggest anomaly, everyone
would find deposits. It’s really about, you still need to rank them because obviously you want
to decide on the sequence in which you go and tackle them. But realistically, what you’re just
trying to do is aggregate those anomalies and then systematically test them. So there’s, you
know, there’s years of work across this South Patterson district together with, you know,
we’re still working on the existing Scallywag and plus the Jury JV ground. So, you know, these
are multi -year campaigns, particularly when you’re looking undercover.

Liam
That makes sense. Okay. Thanks very much, Shaun. Until next time, my name’s Liam and you’ve
been watching Aim On Air, where specialising in connecting companies with its shareholders
is what we do best.

Greatland is a mining development and exploration company focused primarily on precious and base metals. The Company’s flagship asset is the world-class Havieron gold-copper project in the Paterson Province of Western Australia, discovered by Greatland and presently under development in joint venture with ASX gold major, Newcrest Mining Limited (which is the subject of an approved takeover by Newmont Corporation that is due to complete on 6 November 2023). Havieron is located approximately 45km east of Newcrest’s existing Telfer gold mine. The box cut and decline to the Havieron orebody commenced in February 2021. Total development now exceeds 2,820m including over 2,030m of advance in the main access decline (as at 8 October 2023). Subject to a positive feasibility study and Decision to Mine, Havieron is intended to leverage the existing Telfer infrastructure and processing plant. Access to Telfer will de-risk the development and reduces capital expenditure. Greatland has a proven track record of discovery and exploration success and is pursuing the next generation of tier-one mineral deposits by applying advanced exploration techniques in under-explored regions. Greatland has a number of exploration projects across Western Australia and in parallel to the development of Havieron is focused on becoming a multi-commodity miner of significant scale.