Greatland Gold has commenced a maiden drilling campaign at its Paterson South project, which is under a farm-in and joint venture arrangement with Rio Tinto Exploration.
Drilling began at the Stingray target, which is an under-explored magnetic anomaly with exciting potential.
The UK mining company will soon drill another target called Decka, which is a combined magnetic and conductive anomaly around the geological same age as Havieron.
Havieron is Greatland Gold’s high-grade gold-copper project in WA. It’s centred on a deep magnetic anomaly.
At Pateron South, both Stingray and Decka are modelled within 250m of the surface, making them shallower than Havieron.
“We are delighted to immediately commence our maiden drilling campaign at the Paterson South project,” Greatland managing director Shaun Day said.
“The rapid commencement of drilling following entry into the farm-in and joint venture arrangement with Rio Tinto Exploration is testament to both the high quality of the targets and Greatland’s drive to rapidly unlock greater value from our Paterson Province exploration portfolio.”
Beyond the Stingray and Decka targets, Greatland’s next priority is Atlantis which lies 6km along strike to the north-west of Decka. A review of this prospect is currently underway, with subsequent drilling planned.
Last week Greatland announced another win with the significant expansion of Havieron, along with significant gold and copper intercepts taken from the site.
Total development of Havieron now exceeds 2400 metres, including over 1700 metres of main access decline, which is the primary access tunnel to the underground mine.
The company co-owns the Havieron project with Newcrest, which owns 70 per cent of the Joint Venture. The project is located 45km from Newcrest’s Telfer mine in WA.
Greatland Gold is quickly making a name for itself in the Australian mining industry. The company has been increasingly active since cross-listing on the ASX in May.
As part of the company’s objective to be listed on the ASX, Greatland is evaluating a corporate reorganisation.
This would involve the Greatland Group sitting under a new parent company incorporated in Australia.