Greatland Gold’s Significant Discovery at Telfer Mine: 3.2 Million Ounces of Gold and 117,000 Tonnes of Copper
Greatland Gold PLC (AIM:GGP, OTC:GRLGF), a London-based mining company, has made a substantial announcement regarding its Telfer gold and copper mine in Western Australia. This marks a significant milestone for the company since acquiring the asset in late 2018.
Detailed Mineral Resource Estimate
The company has released its first-ever mineral resource estimate for the Telfer mine, revealing an impressive discovery of 3.2 million ounces of gold and 117,000 tonnes of copper. The estimate, which covers the Oxide and Transition Materials zones, was prepared in accordance with the JORC Code (2012) and the Canadian National Instrument 43-101.
Background on the Telfer Mine
The Telfer mine is located approximately 120 kilometers south of Laverton in Western Australia. It was originally developed by Newmont Mining Corporation and operated between 1987 and 2014. Greatland Gold acquired the project from Newmont, and since then, has been exploring and developing the asset.
Impact on Greatland Gold
This mineral resource estimate is a major boost for Greatland Gold, as it not only validates the company’s decision to acquire the Telfer mine but also provides a solid foundation for future growth. The company’s share price reacted positively to the news, with a significant increase in value on the day of the announcement.
Impact on the World
The discovery at Telfer has implications for the global gold and copper markets. With a substantial increase in known resources, the mine will contribute to the global gold and copper supply. Additionally, it may lead to increased demand for mining equipment and services, benefiting companies in the mining industry.
Future Plans for Telfer
Greatland Gold intends to continue exploring and developing the Telfer mine. The company plans to drill additional holes to expand the mineral resource estimate and evaluate the potential for further discoveries. Additionally, it will focus on optimizing the processing plant and improving operational efficiency to maximize production.
Conclusion
Greatland Gold’s first-ever mineral resource estimate for the Telfer gold and copper mine is a significant milestone for the company. The discovery of 3.2 million ounces of gold and 117,000 tonnes of copper will contribute to the global gold and copper markets and potentially benefit the mining industry as a whole. Greatland Gold plans to continue exploring and developing the asset, with the goal of maximizing production and shareholder value.
- Greatland Gold discovers substantial mineral resources at Telfer mine
- 3.2 million ounces of gold and 117,000 tonnes of copper confirmed
- Impact on Greatland Gold’s share price and future growth
- Contribution to global gold and copper markets
- Plans for further exploration and optimization at Telfer
