Newcrest Mining and Greatland Gold are confident that the encouraging mineral resource for the Havieron joint venture project in Western Australia will allow the partners to fast-track development of the operation.
Havieron boasts an initial inferred mineral resource estimate of 3.4 million ounces of gold and 160,000 tonnes of copper.
With Havieron’s 230-capacity camp nearing completion, box cut and decline work is expected to begin late 2020 or early 2021, subject to approvals.
Following this work, Newcrest and Greatland will undertake a pre-feasibility study for the site, including an indicated mineral resource estimate, which is anticipated for a delivery at the end of next year.
This will put Havieron on track for potential commercial production within 2-3 years from the commencement of decline construction.
Greatland Gold chief executive Gervaise Heddle said that publishing the initial inferred mineral resource estimate represented the first of several important milestones in bringing Havieron to life.
“To have achieved this within two years of signing the farm-in is a testament to the experience of Newcrest and their commitment to fast track the potential development of Havieron,” Heddle said.
“The initial resource of 4.2-million-ounce gold equivalent provides us with a strong platform for future growth through exploration while providing a clear focus point for ongoing studies and potential mine development.
“A growth drilling program is planned for 2021 alongside infill drilling, which will give us an even better understanding of the true scale of Havieron.”
With the early works starting soon, Heddle said Havieron was on track for a fast-tracked development throughout 2021.
Exploration activities at Havieron are overseen by Newcrest, under a joint venture agreement with Greatland Gold.