Greatland Resources (LSE:GGP) has announced a major exploration result from the Pinnacles prospect at Telfer, located approximately 1.2 kilometres south of the West Dome Underground resource. A 1,858-metre diamond drill hole returned an intersection of 58.7 metres grading 6.5g/t gold and 0.1% copper, including a higher-grade section of 37 metres at 9.98g/t gold, pointing to a significant continuation of the geological structure associated with existing underground mineralisation.
The newly identified high-grade zone is situated around 1.5 kilometres from Telfer’s current underground crusher and hoisting infrastructure, highlighting the potential to expand resources close to existing operational facilities. Greatland said the mineralised system remains open to the north toward the current West Dome Underground resource estimate, as well as further south into largely untested ground. The company plans to undertake additional wedge drilling and follow-up exploration between Pinnacles and West Dome to evaluate the continuity and overall scale of the emerging mineralised corridor.
Greatland’s outlook is supported by a strong improvement in financial performance during FY2025, characterised by high profitability, stronger cash generation, and very low leverage. Technical indicators also remain favourable, with the shares continuing to trade in a clear uptrend supported by positive momentum, although near-term overbought conditions introduce some additional risk. Valuation metrics remain supportive, aided by a relatively low price-to-earnings ratio.
More About Greatland Resources
Greatland Resources is an Australia-based mining and exploration company focused on gold and copper projects. Its portfolio includes the Telfer operation, where the company is advancing the West Dome Underground project as part of a broader strategy to grow underground mineral resources while leveraging established processing and hoisting infrastructure.
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