Greatland Gold welcomed strong results across its suite of Australian projects for the first half of the 2023–24 financial year (H1 FY24).
The company ended 2023 with a closing cash position of £12.7 million ($24.8 million) and a closing debt balance of £41.1 million ($80.33 million).
Havieron
Newmont became Greatland’s joint venture partner and manager of the Havieron gold project on November 6 last year, after completing its acquisition of Newcrest Mining.
In December 2023, Greatland announced the current mineral resource estimate now stands at 8.4 million ounces, a 29 per cent increase from the company’s previous estimate in March 2022.
While Newmont announced its intention to divest Havieron and the nearby Telfer operations, Greatland said it is committed to delivering Havieron’s full potential for all stakeholders.
Paterson South
In May 2023, Greatland entered into the Paterson South farm-in and joint venture agreement with Rio Tinto Exploration.
Greatland said it is currently refining the exploration program to be carried out across the remainder of Paterson South and has completed on-ground heritage surveys over several targets on the Skylar, Wilki Lake and Basel tenements.
On-ground work including drilling is planned for 2024, along with additional heritage surveys to enable on-ground work on all of the highest priority prospects.
Greater Paterson
Greatland’s 100 per cent owned Greater Paterson exploration projects comprise the Scallywag and Canning projects.
The company completed a string of drilling programs and studies at the projects, with results released in December 2023 revealing high-priority targets to be explored in 2024.
Ernest Giles
In September 2023, Greatland entered into a land access agreement with the Manta Rirrtinya Native Title holders.
The agreement consents to Greatland’s grant of tenure over approximately 75 per cent of the Ernest Giles project area.
In November 2023, Greatland completed two diamond core drill holes at the Ernest Giles’ Meadows prospect, co-funded by the WA Government’s exploration incentive scheme drilling grant.
Panorama
In November 2023, Greatland announced the results of a surface sampling program at Panorama, confirming it as nickel enriched and a potential primary nickel sulphide host.
Greatland is now planning its next steps to effectively test both the geochemical and geophysical anomalies on the tenure.
Bromus
During H1 FY24, the lithium prospectivity of the Bromus project tenure was assessed and on-ground activities planned for confirmation.
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