Copper, Exploration/Development, Gold, News

Rio Tinto and Greatland team up for Gold

Havieron, gold

Greatland Gold has completed a maiden drilling campaign at the Paterson South project with farm-in and joint venture partner Rio Tinto.

The company targeted the Stingray and Decka prospects, both of which lie along strike and within 20km of Greatland’s flagship Havieron gold-copper project.

Assay results showed the presence of gold and copper, with notable results such as 0.26 parts per million (ppm) gold and 0.17ppm gold returned in single 1m intervals from depths of 305m and 435m respectively.

Greatland managing director Shaun Day said the company was pleased with the results.

The program has identified the presence of anomalous gold and copper as well as pathfinder elements which is encouraging and informative,” Day said.

“The rapid commencement of drilling following execution of the joint venture with Rio Tinto Exploration is testament to Greatland’s commitment and ability to efficiently and safely explore the Paterson region, which we will continue across our expanded Paterson province exploration portfolio.”

With the maiden drilling campaign concluded, Greatland has achieved the minimum commitment of the earn-in agreement by completing 2000m of drilling and $1.1 million in expenditure.

Greatland, a company based in the UK with its assets in Australia, first listed on the ASX earlier this year to simplify its operations.

Andrew Forrest-backed Wyloo Metals bought an 8.6 per cent stake in Greatland in September last year. The equity funding made Wyloo the largest shareholder of the UK gold company.

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