 announced it has uncovered significant mineralisation in the first hole at its new drilling campaign at Havieron.){kind=link}
Greatland Gold (LON:GGP) announced it has uncovered significant mineralisation in the first hole at its new drilling campaign at Havieron.
According to the update, the company said that the drilling campaign at the Havieron project, which it owns a 100 percent stake in, ‘yielded excellent results’.
Specifically, Greatland said it had witnessed ‘significant mineralisation’, bearing similarities to what had been previously intersected in HAD001.
As a result, initial observations alongside earlier results suggest that Haiveron may demonstrate ‘a very large mineralised system’.
The precious metals exploration company added that drilling of HAD006 has begun, and that initial lab assay results for HAD005 are expected to be available within approximately six weeks.
Gervaise Heddle, Chief Executive Officer, commented:
“We are very pleased to see significant visible mineralisation in the first hole of this new drill campaign, which further reinforces our view that Havieron has the potential to be a very large mineralised system,”
He added: “Our key priority now is to further test the extent and orientation of the mineralised zone and we look forward to providing further updates as drilling progresses.”
Back in August, shares in Greatland Gold soared after the company announced a new exploration programme at its project in Tansmania.
The Australian Firetower project is fully owned by Greatland Gold, and is one of three new drilling campaigns the company have announced for the year.
The firm was founded back in 2005, and has been listed on the junior AIM-market of the London Stock Exchange since 2006.
With a primary focus upon Australia, Greatland’s current projects include Paterson, Ernest Giles, Bromus, Warrentinna, Firetower and Panorama.
Shares in Greatland Gold are up marginally +0.94 percent as of 11.37AM (GMT).
Elsewhere in the mining sector, Avocet mining (LON:AVM) shares plummeted on Monday morning, after the company updated the market on its progress, hinting at a possible break-up.