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Newcrest starts drilling at Havieron gold project as part of US$65M farm-in deal

Newcrest Mining Ltd. unit Newcrest Operations Ltd. started drilling at Greatland Gold PLC's Havieron gold-copper project in Western Australia as part of a 75% earn-in agreement.

The initial drill program of about 10,000 meters will look to define the extent of the mineralization along strike and at depth, testing to 1,000 meters below surface, according to the May 22 release.

Newcrest secured an option in March to earn up to a 70% stake in Havieron by spending US$65 million over six years, and acquire an additional 5% at the end of the farm-in period at fair market value.