It’s a cold and wet morning, but that doesn’t detract from what we’re going to tell you about Greatland Gold PLC’s discovery of Havieron (AIM:GGP, OTC:GRLGF) . in 2018. It was a huge success and it is now a gold and copper mine nearing the production stage.
The company’s website states that the project is currently being developed in a joint venture with Newcrest Mining, Australia’s largest gold producer. Havieron is just 45km from Newcrest’s Telfer mine. This allows the project to leverage Telfer’s existing infrastructure and processing plant to significantly reduce the project’s capital costs and carbon footprint for a low-cost development path under the ore payment agreement.
Figure 1: Location of the Havieron project (Source: Greatland Gold website).
As per the company’s latest presentation, the updated Ore and Mineral Reserve data is shown in Figure 2.
The significance of these numbers is that the mine has been discovered. In most cases, investors only look at the results of a long mineral exploration journey.
Figure 2: Probable and mineral grade of the Havieron deposit. (Source: Greatland Gold website).
The journey of discovery is never an overnight process. In reality, the discovery of any mineral deposit has a minimum lead time of years, and development usually takes decades (including exploration and resource development).
The Coffee with Samso – Exploration Discovery Series aims to showcase discovery as well as the most exciting parts of exploration journeys. The inside scoop on what happened, did and didn’t work out leading up to the reveal is the fun part of the conversation for me.
The Havieron discovery is one of the latest successes achieved as management has kept faith and applied the principles of mineral exploration. As an exploration geologist, the Havieron discovery excites me. The pursuit of discovery is one of the most fulfilling feelings one can experience. The idea of starting a company to get funding to chase elephant deposits is high on my list.
That’s why I want to bring these stories to the Samso platform so that the average investor out there can get an insight into these journeys.
I hope you enjoy the video and feel the “excitement” that was in the room when Calum and his associates received the results of the drill.
01:35 Callum Introduction
03:46 Was a secret reveal always the plan?
06:33 It was a geophysical target.
08:10 Chasing elephants.
08:56 Pursuit of wide anomalies.
10:34 What were the challenges for Greatland Gold then?
12:28 The magic formula for investigative success.
13:54 The story of discovery.
20:29 Was the discovery lucky?
21:41 Did the core of the deposit give many clues?
23:21 How has geophysical technology helped mineral exploration?
27:36 Would today’s new technology change modeling?
29:09 The mines of big elephants still exist.
31:03 Detection potential.
32:12 What is Callum Baxter doing now?
33:27 Is Calum returning to the industry?
33:46 What is happening in the market?
37:26 Are there more elephants in the Patterson Range?
About Callum Baxter
Former Chief Technical Officer of Greatland Gold PLC (AIM:GGP, OTC:GRLGF)
Exploration Geologist and Founding Director of UK Greatland Gold PLC.
Began working in mineral exploration in 1991 after graduating with a Bachelor of Science in Geology in Western Australia. Involved in the discovery of large gold reserves (Jundee/Nimary) before moving into other commodities including base metals and nickel. Member of AusIMM and AIG.
Over 25 years of experience working with juniors, mid-level researchers and large mining companies around the world. In the early 2000s, he completed a master’s degree in ore deposit geology. Co-owned by Greatland, which listed on AIM in the UK in 2006. Greatland is focused on discovering large deposits of precious metals and base metals in Australia, in areas that have not previously been extensively explored.
Greatland has had recent success with the discovery of high-grade gold and copper mineralization at the Havieron deposit, under 400m of cover in the Paterson region of Western Australia.
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