By Samuel Indyk
Investing.com – Greatland Gold, the UK listed precious and base metals exploration company, has confirmed it has lodged an application for a new exploration licence in the Paterson region of Western Australia.
The Canning exploration licence application would cover an area of 114km² and is located 175km south east of Havieron. The new licence application contains the bulk of a large magnetic "bullseye" anomaly, similar to the magnetic "bullseye" located over the Havieron deposit. However, the company said no previous drill testing of this anomaly has been reported in historical records.
“We are pleased to apply for the new Canning licence which will expand our footprint in the Paterson region and build on our exploration momentum in this region,” Greatland Gold Plc (LON:GGPL) CEO Shaun Day said in a statement. “This fits in with our strategy of seeking to discover tier 1 gold-copper deposits. We look forward to reporting progress on the application in due course."
Havieron Joint Venture
For context, back in March 2019, the company signed an agreement with a subsidiary of Newcrest Mining to explore and develop Greatland’s Havieron gold and copper resource in the Paterson Region. Exploration drilling by Greatland during 2018 resulted in the discovery of significant gold and copper mineralisation under 400m of post mineralisation cover.