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Greatland Gold welcomed news that partner Newcrest Mining had upped the number of drilling rigs at the Havieron joint venture in Australia to eight, up from six.
Newcrest was investigating the potential to start an exploration decline at Havieron by end of calendar year 2020, its chief executive, Sandeep Biswas told a conference in Florida.
It was also investigating potential to achieve commercial production within two-to-three years years from commencement of the decline, according to Biswas's presentation.
'It is a very exciting time at Havieron as drilling accelerates to define the potential scale of the deposit and preliminary work begins to determine potential mining methods,' Greatland Gold chief executive Gervaise Heddle said.
'We are very pleased by Newcrest's ongoing commitment and look forward to providing further updates on progress at Havieron.'
At 1:40pm: (LON:GGP) Greatland Gold PLC share price was +0.31p at 5.15p