Greatland has taken the drill bit to its Telfer portfolio, completing over 54,000 metres of drilling during the December quarter.
Greatland Resources has taken the drill bit to its Telfer gold and copper portfolio, completing over 54,000 metres of drilling during the December quarter.
The Shaun-Day led miner is looking under the hood at Telfer’s West Dome underground and open pit prospects, where it hopes to release a maiden resource estimate later this quarter.
Drilling at West Dome took Greatland’s first-half exploration tally to nearly 107,000 metres, with plans to ramp up under a year-long, 240,000-metre Telfer campaign.
That program delivered some of West Dome's highest gold intercepts to date, including 55.3 metres at 7.4 grams per tonne.
Mr Day said the drilling program supported a possible life of mine extension at Telfer.
“In total, over 100,000 metres of new resource growth drilling will inform our next Telfer mineral resource,” he told the market on Thursday.
Greatland’s exploration update comes just one day after Andrew Forrest’s Wyloo upped its stake in the gold stock, spending $200 million to lift its interest above 18 per cent at $3 per share.
The transaction lifts Wyloo’s holding to almost twice its previous level and was struck at a substantial discount to the company’s current share price.
Wyloo picked up the shares from former Telfer owner Newmont, which took a 20 per cent stake in Greatland when the Telfer mine changed hands in late 2024.
“We believe there is substantial value yet to be unlocked from Havieron and Telfer, and we look forward to continuing our support,” Wyloo chief executive Luca Giovazzi said Wednesday.
ASX-listed Greatland also released a production update a fortnight prior, claiming it ended 2025 with $948 million in the bank and no debt.
It produced over 86,000 gold ounces and 3,500 tonnes of copper, both up slightly on its September quarter metrics.
Greatland plans to release its full quarterly report on Wednesday, January 28.
Company shares are trading 3.3 per cent lower in Thursday morning trade, worth $13.12 each in a $9.13 billion market cap.
Greatland’s 90-day share price graph:
