By Oliver Griffin
Shares in Greatland Gold PLC inched up on Tuesday after the company said Newcrest Mining has returned further excellent drill results at the Havieron gold-copper project in Western Australia.
The mining company said that three of the drill holes each intersected significant widths of mineralization in excess of 100 meters with grades of 2 grams a ton of gold or higher.
Greatland Gold said one of these intersections included a 43 meter interval with a gold grade of 7.9 grams a ton. Copper grades were also present, ranging from 0.1% to almost 1%, the company said.
In March the company signed a farm-in agreement with Newcrest Operations Ltd., a wholly owned subsidiary of Newcrest, to explore the Havieron project. Newcrest can acquire up to a 70% interest in a 12-block area that covers the project by spending $65 million.
Shares at 0803 GMT were up 3.7% at 1.81 pence.
Write to Oliver Griffin at firstname.lastname@example.org; @OliGGriffin