Greatland Gold set to start up the drills at Havieron in April
Greatland Gold announced on Wednesday that it is ready to conduct its first drilling campaign at its Havieron licence in April.
The precious and base metals exploration and development company plans to use up to four vertical holes to analyse the type of mineralisation and determine gold, copper and other element grades at the Paterson project in Western Australia.
The three lincences acquired by Greatland covered more than 385 square kilometres prospective for iron-oxide-copper-gold deposits and telfer style gold deposits.
Gervaise Heddle, chief executive of Greatland, said: "Over the past few months, the Paterson region has seen a substantial number of new exploration licence applications by several industry participants. Greatland's early entry advantage makes us well positioned to capitalise on the region's potential. We look forward to announcing the results of our drilling campaign in due course."
The company has moved forward with the project following the gathering of aeromagnetic and ground activity data from independent geophysical consultants indicated the presence of a large mineralised system.
The site is also home to six holes drilled in the 1990s which intersected thick lower grade zones of gold, peaking at 15.4g/t, and copper to 2.5%.
"We look forward to announcing the results of our drilling campaign in due course," said Heddle.
As of 1543 GMT, Greatland Gold's shares were up 3.16% at 0.61p.