By Jaime Llinares Taboada

 

Greatland Gold PLC said Thursday that recent drill results confirmed the continuity of high-grade mineralization within the South East Crescent and Breccia areas of its Havieron deposit in Australia.

The London-listed miner said mineralization is open at depth providing support for a potential expansion of the Havieron gold resource.

Greatland's partner and project operator Newcrest Mining Ltd. has scheduled a 2021 exploration program for around 65,000 meters of drilling within the next six months.

Shares in Greatland at 0822 GMT were up 1.1 pence, or 4.1%, at 28.0 pence.

Newcrest has earned a 60% interest in the joint venture, whereas Greatland holds the remaining 40% stake. Newcrest can earn up to a 70% interest upon total expenditure of $65 million and achievement of exploration milestones.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

January 28, 2021 03:46 ET (08:46 GMT)

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