Newcrest Mining (ASX:NCM) has mobilized a drill rig to the Havieron project pursuant to an earn-in agreement with Greatland Gold (LON:GGP), whereby Newcrest will be able to earn an interest of up to 70% in the project by spending at least US$65M on exploration on the property.
The initial drill program will consist of 10,000 meters of drilling to define the extent of the mineralization along strike and at (substantial) depths as some of the drill holes will be drilled to a depth of up to 1,000 meters. The drill program started in the final week of May, and we will probably see the first assay results in July.
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