Greatland Gold PLC (LON:GGP) has announced a new drilling campaign at its Havieron license following “encouraging” results from the final three holes of its first drilling programme.
The AIM-listed gold miner said results from the final three holes had demonstrated the potential for Havieron to represent a very large mineralised system, with results from the HAD003 hole showing 21m at 3.78g/t gold and 0.44% copper from 418m, including 1m at 29.12g/t gold and 0.4% copper from 428.5m while the HAD002 hole showed 1m at 5.9g/t gold and 0.24% copper from 443m and 2m at 5.44g/t gold from 488m.
READ: Greatland Gold recovers more gold pieces from surface samples at Black Hills
Greatland added that the new drill programme included up to ten core holes for a total 6,000m of drilling and was scheduled to commence in September 2018 and last for 10 weeks.
Gervaise Heddle, chief executive of Greatland Gold, said: “The results have provided us with a high degree of confidence to commit to additional work which is designed to further outline the extent of high grade mineralisation.
WATCH: Greatland pushing on with more drilling at Havieron
He added: "We are further encouraged by Rio Tinto's application for an exploration licence adjacent to Greatland's Havieron licence soon after we disclosed exceptional results from our first drill hole.”
Shares were down 8.6% to 1.7p in late afternoon trading.
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