Greatland Gold has applied for four new exploration licences covering 126 square kilometres of ground in the Gascoyne region of WA.
A prospectivity study by Greatland covering the Pilbara and surrounding areas discovered the potential site at Yannerie.
The data indicates that the area has only shallow cover and is underexplored.
The geological environment and history of the district is considered to be ideal for the formation of large scale precious and base metals deposits, which the company hopes is similar in style to its joint venture Havieron deposit owned with Newcrest Mining.
The Yannarie applications overlay a complexly folded Proterozoic meta-sedimentary package intruded by Proterozoic granitoids on the margin of a terrane boundary.
“The addition of these tenements to our portfolio augments a pipeline of high priority targets in Tier 1 districts and demonstrates our continued focus to identify and secure prospective ground, where we can leverage our team’s experience and track record of success,” Greatland managing director Shaun Day said.
“Yannarie complements our upgraded portfolio of priority projects including the Paterson and Ernest Giles.”
Greatland’s Paterson project comprises two joint ventures with Newcrest, Havieron and Juri, as well as its 100 per cent owned licences at Scallywag, Rudall and Canning.
Collectively, the projects cover more than 450 square kilometres in the Paterson region of WA.
The company’s Havieron joint venture is currently the subject of an agreed takeover bid by Newcrest, who owns a 70 per cent stake in the project.
A feasibility study for Havieron is ongoing, with Greatland aiming to to maximise value and de-risk the project.
The outcome of the takeover is expected to be announced in November 2023.
While the feasibility study is underway, Greatland stands to increase its financial flexibility with its entrance into a $50 million unsecured standby debt facility with shareholder Wyloo Metals.
