Greatland Gold expands Telfer mine resource, strengthening long-term growth potential

Greatland Gold PLC has unveiled its 2024 Group Mineral Resource Estimate, highlighting a significant expansion of gold and copper reserves across its key mining assets in Western Australia. The update, which includes the inaugural Telfer Mineral Resource Estimate, confirms a total of 10.2 million ounces of gold and 387,000 tonnes of copper, representing a more than 40% increase compared to previous assessments.

The Telfer gold-copper mine, a recent acquisition from Newmont Mining, has rapidly emerged as a cornerstone of Greatland Gold’s growth strategy, with an initial mineral resource of 3.2 million ounces of gold and 117,000 tonnes of copper. The substantial resource expansion reinforces the potential for mine life extension, positioning Greatland Gold for long-term profitability in an industry driven by rising global demand for gold and copper.

How Does the Telfer Mineral Resource Estimate Impact Greatland Gold’s Growth Strategy?

The newly released Telfer Mineral Resource Estimate is a major milestone for Greatland Gold, coming just 15 weeks after the company completed its acquisition of the mine in December 2024. The Telfer deposit, one of Australia’s largest historic gold-copper assets, has been a key mining hub for decades. This latest update provides a detailed breakdown of its resource classification. The West Dome Open Pit holds 115.6 million tonnes at 0.55g/t gold and 0.05% copper, accounting for 2.1 million ounces of gold and 61,000 tonnes of copper. The Main Dome Underground includes 7.9 million tonnes at 2.62g/t gold and 0.51% copper, adding 700,000 ounces of gold and 40,000 tonnes of copper to the resource base. Existing stockpiles amount to 30.6 million tonnes at 0.45g/t gold and 0.05% copper, contributing an additional 400,000 ounces of gold and 16,000 tonnes of copper.

These figures are calculated using conservative gold price assumptions of A$3,450 per ounce for open-pit mining and A$3,150 per ounce for underground operations. With current spot gold prices exceeding A$4,700 per ounce, Greatland Gold’s resource valuation stands to benefit significantly if market conditions remain favorable.

Why Is Havieron Crucial to Greatland Gold’s Long-Term Expansion Plans?

While Telfer is the company’s most recent acquisition, Greatland Gold’s resource expansion is also being driven by the Havieron deposit, a world-class gold-copper discovery in the same mineral-rich Paterson Province of Western Australia. The Havieron deposit, which remains under active development, has played a critical role in elevating Greatland Gold’s total mineral resource to 10.2 million ounces of gold and 387,000 tonnes of copper.

The latest figures from Havieron reinforce its strategic importance. Measured resources now stand at 10.3 million tonnes at 0.68g/t gold and 0.07% copper for 200,000 ounces of gold and 7,000 tonnes of copper. Indicated resources total 104.7 million tonnes at 1.60g/t gold and 0.21% copper for 5.4 million ounces of gold and 221,000 tonnes of copper. Inferred resources include 170 million tonnes at 0.84g/t gold and 0.09% copper for 4.6 million ounces of gold and 159,000 tonnes of copper.

By integrating Telfer’s processing facilities with Havieron’s growing resource base, Greatland Gold is creating one of Australia’s largest gold-copper operations, with the capacity for long-term sustainable production.

What Are Greatland Gold’s Next Steps for Drilling and Expansion?

Greatland Gold has launched an aggressive drilling campaign at Telfer, focused on expanding known mineralization and upgrading resource classifications. The company is prioritizing high-grade infill drilling to convert inferred resources to indicated status while also targeting extensions beyond the currently defined resource areas.

The West Dome Underground Project, one of the most promising exploration zones, has already delivered exceptional high-grade drill results, including 14.3 meters at 9.6g/t gold and 8.57% copper, as well as 59.0 meters at 2.83g/t gold and 0.71% copper.

With four drill rigs currently operating on-site and two additional rigs scheduled for mobilization in the June 2025 quarter, the company is advancing toward defining even larger mineable reserves. Beyond the core Telfer and Havieron operations, Greatland Gold is evaluating several unclassified deposits, including the Main Dome Open Pit, Vertical Stockwork Corridor, and Eastern Stockwork Corridor, for potential inclusion in future resource estimates.

How Is the Market Responding to Greatland Gold’s Expanding Resource Base?

Investor sentiment toward Greatland Gold’s stock (LSE: GGP) has been overwhelmingly positive, fueled by confidence in the company’s resource growth and operational execution. The stock has surged in recent months, reflecting strong market reception to the company’s strategic acquisitions and exploration success.

As of March 2025, Greatland Gold’s share price is trading at 10.60 GBX, marking a 23.26% increase over the past month, an 84.35% rise over three months, and a 66.67% year-to-date gain. Canaccord Genuity has maintained a ‘Buy’ rating on the stock, citing the company’s strong asset base and positive industry trends.

Greatland Gold’s upcoming ASX listing in June 2025 is expected to provide further growth opportunities by increasing liquidity and attracting institutional investors. As the company transitions into a mid-tier gold and copper producer, its long-term outlook remains closely tied to ongoing exploration success and efficient resource development.

Is Greatland Gold a Buy, Sell, or Hold?

With gold prices at multi-year highs and the company’s resource expansion accelerating, Greatland Gold presents a strong investment case for long-term growth. The integration of Telfer and Havieron into a consolidated mining operation enhances both cost efficiencies and production scalability.

For investors seeking exposure to high-growth gold and copper assets, the company offers compelling potential. However, commodity price fluctuations, operational risks, and exploration uncertainties remain key factors to watch. While the stock’s recent performance has been strong, further upside could depend on upcoming drilling results, production updates, and successful execution of the Telfer mine plan.

As the June 2025 quarter approaches, all eyes will be on Greatland Gold’s first full-quarter operating results for Telfer, upcoming Telfer Ore Reserve estimate, and the potential impact of its ASX dual listing. With multiple growth catalysts in place, investor confidence in Greatland Gold’s future remains high.