Excitement over the prospects for the Paterson province in the east of Pilbara raised another transmission after a London researcher announced the intersection of glittering holes with his land about 40 km east of Telfer.
AIM-listed Greatland Gold on Monday announced a “terrific” crossroads of 275 meters for 4.77 grams per ton of gold and 0.61 percent copper for its exploration licenses to Havieron, sending its stock price more than 36 percent in the last two trading sessions .
The results from one hole confirm the solid gold mineralization that the company encountered during the prospecting search campaign in May.
In Greatland, peak gold values were 211.3 g / t, and copper peak – 8.45% at a recent intersection of drilling operations, about two times higher than the previous hits.
Chief executive officer of Gervaise Heddle said that enhanced gold and copper results persist until the end of the well, suggesting that mineralization continues at a depth below the current drilling limit.
“It is important to note that we have seen a significant width of a copper well in excess of 0.5 percent,” he said.
"The results are only the first in our current Havieron campaign, and we look forward to updating the shareholders with respect to our future progress."
While deep, below 459 m, the intersection provides additional evidence that Paterson could provide the economic resources of gold and copper beyond those known in the Telfer and Nifti mines.
The news also adds buzz around rumors of a big Rio Tinto find this year.
The giant giant was still close to the proposed opening 150 km north-north-west of Telfer, but, as you know, created a working camp for 50 people in a remote place, and, as is understood, it was used to create the runway to support her research.
Greatland owns three licenses in the area, which cover more than 385 square meters. Km, which, according to his description, are promising for iron and copper-gold oxide deposits and gold deposits in Telfer.
The company's Havieron Avenue is sandwiched between land owned by Rio and Antipa Resources.
Rio occupies 11,000 square meters. Km of land in the area, while Fortescue Metals Group holds about half of this amount after snapping trees last year.
An independent group, Artemis Resources and Metalicity are among the companies that have consolidated their positions in the region in recent weeks.