Greatland Gold has updated the mineral resource estimate (MRE) for its Havieron copper-gold project located in the Paterson province of Western Australia.
The Havieron project is a joint venture between Greatland, which owns 30 per cent of the project, and Newmont, which now owns the remaining 70 per cent through its acquisition of Newcrest Mining.
The project’s new MRE has increased to 8.4 million ounces (Moz) of gold equivalent, a 1.9Moz increase from the 2022 MRE. The 2023 MRE also comprises of 7Moz of gold and 275 kilotons of copper.
Havieron’s updated MRE covers about 93,000 metres of additional drilling completed at since the December 2021 drilling cut-off for the project’s March 2022 MRE.
“We are delighted by the continued growth in the Havieron mineral resource estimate,” Greatland Gold managing director Shaun Day said.
“The growth journey in the resource has been very significant with the total gold equivalent mineral resource content having increased from 4.4Moz in the October 2021 MRE, to 6.5Moz in the March 2022 MRE, and now to 8.4Moz in 2023.
“The updated MRE now averages over 7900 ounces per vertical metre (gold equivalent) over 1000 metres vertically, which is testament to the quality of the Havieron ore body.”
Day said the MRE update showcases Havieron’s quality and scale, and its “compelling investment proposition” for the company.
“We are excited to see the impact of the significant growth in the indicated category on the updated ore reserve estimate that will underpin the feasibility study which is ongoing and expected to be completed in 2024,” he said.
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