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Highlights

  • Inaugural Telfer MRE: 3.2Moz gold and 117kt copper, with 46% in Measured or Indicated category.
  • Group Resources Growth: Mineral resources increase by over 40% to 10.2Moz gold and 387kt copper.
  • Future Development: Drilling expansion and reserve estimation planned for June 2025 quarter.

Greatland Gold plc (LSE:GGP) has released its 2024 Group Mineral Resource Estimate (MRE), marking a significant milestone with its first resource estimate for the Telfer gold-copper mine. This achievement comes just 15 weeks after the acquisition of Telfer.

The Telfer MRE, as of 31 December 2024, reports:

  • Total resources of 154Mt @ 0.64g/t Au and 0.08% Cu, containing 3.2Moz gold and 117kt copper.
  • Breakdown by deposit:
    • West Dome Open Pit: 115.6Mt @ 0.55g/t Au, 0.05% Cu (2.1Moz Au, 61kt Cu).
    • Main Dome Underground: 7.9Mt @ 2.62g/t Au, 0.51% Cu (0.7Moz Au, 40kt Cu).
    • Stockpiles: 30.6Mt @ 0.45g/t Au, 0.05% Cu (0.4Moz Au, 16kt Cu).
  • Resource Classification: 46% of gold resources are in the Measured or Indicated category, equating to 1.4Moz gold and 62kt copper.

Expanding Group-Wide Resources

Including the Havieron project, Greatland’s total group resources have increased by over 40%, now standing at 285Mt @ 1.11g/t Au and 0.14% Cu, containing:

  • 10.2Moz gold and 387kt copper.
  • 55% of gold resources (5.6Moz) classified as Measured or Indicated.

This substantial growth underscores the company's expanding mining footprint and exploration success.

Future Strategy and Exploration

With the Telfer Ore Reserve estimate targeted for the June 2025 quarter, Greatland is intensifying its exploration and development activities. Key initiatives include:

  • Increasing drilling capacity: Four drill rigs are currently active (two in the open pit, two underground), with two additional rigs arriving in June 2025 to accelerate resource conversion and expansion.
  • Advancing the West Dome Underground Project, which has returned high-grade drilling results such as 14.3m @ 9.6g/t Au and 8.57% Cu and 59.0m @ 2.83g/t Au and 0.71% Cu.
  • Expanding resource classification efforts: The current MRE focuses on active mining areas, but Greatland plans to evaluate additional zones, including the Main Dome Open Pit, Vertical Stockwork Corridor (VSC), and Eastern Stockwork Corridor (ESC), alongside satellite deposits.