Pacific Trends Resources Pty Ltd has been granted the exploration licence 45/4701, (“Havieron Project”), and, as a result, Greatland expects to complete the acquisition of the Havieron Project within the next few weeks.
Highlights:
- Exploration licence 45/4701, the “Havieron Project”, has been officially granted to Pacific Trends Resources Pty Ltd following the recent withdrawal of all native title objections;
- Greatland expects to complete the acquisition of the Havieron Project by mid-August with payment of AUD$25,000 in cash and the issuance of 65,490,000 ordinary shares of 0.1 pence each in the Company to Pacific Trends Resources Pty Ltd;
- Greatland expects to commence a tightly spaced gravity survey over the Havieron target during Q4 2017 that will be used to finalise drill targets; and
- Greatland’s technical team is currently undertaking a review of new regional exploration data that covers both the Havieron and Paterson Range East Projects, and significant findings from this review are expected to be announced shortly.
On 26 September 2016, Greatland announced that it had entered into an agreement to acquire 100% of the Havieron Project from Pacific Trends Resources Pty Ltd. The Havieron project is located in the Paterson Region of Western Australia, and sits approximately 40 kilometres east of Newcrest’s Telfer gold mine (over 27 million ounces of gold produced to date). Historical geophysical data at Havieron has outlined a large target covering approximately 1,000 metres by 1,000 metres. Limited historical drilling (six drill holes) by Newcrest during the 1990s demonstrated high grade gold and copper mineralisation at the Havieron target with peak values of 15g/t Au and 2.5% Cu.
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