Commodities, Exploration/Development, Gold, News

Newcrest progresses Juri JV with Greatland Gold

gold exploration

Newcrest Mining and Greatland Gold have moved their Juri joint venture (JV) in Western Australia to its second stage, with a ramp up of exploration activity scheduled for next year.

The JV will see Newcrest earn up to 75 per cent interest if it spends an additional $17 million on Juri in stage two.

This is preceded by an initial drilling program at Juri this year, which found an intersection of 3.5 metres at 1.88 grams per tonne of gold from 226.5 metres at the Saddle Reefs target, and first gold at the Goliath prospect.

“Advancing to stage two of the Juri JV marks an important step forward which further demonstrates the confidence and financial commitment of our partner Newcrest,” Greatland chief executive officer Shaun Day said.

“This progression follows a successful initial drill programme, where mineralisation was discovered, and additional rich geological information obtained in respect of existing and new targets.”

The additional investment enables Greatland to expand and accelerate the 2022 Juri exploration program without the need to self-fund this activity.

“Furthermore, this commitment is evidence of the strength of our relationship with Newcrest and our mutual belief in our partnership to undercover further deposits in the highly prospective Paterson region,” Day said.

Greatland is expecting Juri’s 2022 exploration program to include drill testing conducters identified in a 2021 ground electromagnetic survey, drilling targets not identified in the 2021 program (including the Tara and Tama targets).

Follow-up drilling is also planned on any results from this year’s drilling activity.

“The Juri JV campaign forms part of Greatland’s multifaceted exploration strategy in the highly prospective Paterson region,” Day said.

“This work complements the rapid progress at Havieron, with mine development and a growth drilling programme underway; together with exploration activities at our 100 per cent licences across the Paterson district.”

The Juri JV is located in the Paterson Province near Newcrest and Greatland’s Havieron JV.

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