Greatland Gold Shares Rise on Drilling Results at Havieron License
July 25 2019 - 5:33AM
Dow Jones News
By Oliver Griffin
Shares in Greatland Gold PLC (GGP.LN) rose Thursday after the
company said results from Newcrest Mining Ltd.'s (NCM.AU) first
drilling campaign at the Havieron license in Western Australia
confirmed high-grade gold-copper mineralization.
In March the mining company entered a farm-in deal with
Newcrest, one of the world's biggest gold miners, regarding its
wholly-owned Havieron license.
Newcrest can acquire up to 70% in 12 blocks within the license
that covers the Havieron target by spending up to $65 million and
completing a series of milestones over a six-year period.
Greatland Gold said Newcrest found a range of gold grades
including from 0.59 grams a ton to 21 grams a ton, across a variety
of depths.
The company said Newcrest will now expand its exploration
campaign from two drill rigs to four.
Shares at 0900 GMT were up 10% at 1.97 pence.
Write to Oliver Griffin at oliver.griffin@dowjones.com;
@OliGGriffin
(END) Dow Jones Newswires
July 25, 2019 05:18 ET (09:18 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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