Greatland Resources lifts group reserves 62% to 5Moz on Telfer drilling

Greatland Resources Ltd increased its group ore reserve by 62% to 5.0 million ounces of gold, driven by drilling success at the Telfer mine in Western Australia.

The reserve estimate was compiled in accordance with the JORC Code, with the majority of the increase coming from the Telfer underground and open-pit operations, the company said in a statement. Greatland trades on the AIM (GGP), ASX (GGP), OTC (GRLGF) and Frankfurt (G8G) exchanges.

The group reserve now stands at 5.0 million ounces of gold and 196,000 tonnes of copper, up from 3.1 million ounces previously. The 1.9-million-ounce net addition came primarily from infill and extensional drilling at Telfer, which has produced more than 15 million ounces of gold over its operating history, according to company filings.

Greatland operates the Telfer gold mine, one of Australia's largest gold-copper mining complexes, and is advancing the Havieron development project 45 kilometres away in the Paterson region. The expanded reserve base extends Telfer's mine life and strengthens Greatland's position as a mid-tier gold producer. The company is expected to provide updated production guidance incorporating the new reserve figures in its next quarterly report.

Telfer Drilling Program Drives Reserve Growth

The drilling program targeted both extensions of known mineralisation and new zones within the existing mine footprint. The 62% increase in gold reserves positions Greatland among the larger gold reserve holders on the ASX, with the combined gold-copper endowment adding a by-product revenue stream that supports lower all-in sustaining costs.

Greatland acquired the Telfer operation as part of its acquisition of Newmont's assets in the Paterson region. The Havieron project, located 45 kilometres east of Telfer, represents the next growth catalyst, with a feasibility study expected in the coming quarters.

Peer Comparison and Market Positioning

The 5.0-million-ounce gold reserve places Greatland in a peer group that includes mid-tier Australian producers such as Evolution Mining and Gold Road Resources. By comparison, Black Cat Syndicate (ASX:BC8) this week lifted its Trojan resource by 62% to 202,000 ounces — a significantly smaller scale that highlights the tier difference between the two operators.

Greatland's combined gold-copper reserve also differentiates it from pure-play gold miners, with copper credits providing a natural hedge against gold price volatility. The company's multi-exchange listing provides liquidity across London, Sydney and North American markets.

This article is for informational purposes only and does not constitute investment advice.