The Greatland Resources Ltd (ASX: GGP) share price is in focus today after the company reported first-quarter FY26 results, delivering 53,543 metres of drilling—about 10% ahead of plan—and progress towards its ambitious 240,000-metre annual program at Telfer. Key intercepts include new high-grade gold and copper zones at the West Dome Underground and encouraging results from regional exploration near the Telfer mill.
What did Greatland Resources report?
- Completed 53,543 metres of drilling in Q1 FY26—around 10% above planned metres.
- 711 holes drilled across Telfer's West Dome Open Pit, West Dome Underground, and Main Dome Underground.
- West Dome Underground highlights: 35m @ 2.9g/t Au & 0.19% Cu; 30m @ 5.6g/t Au & 0.25% Cu; 26.6m @ 2.7g/t Au & 0.30% Cu.
- Resource growth drilling delivered at both ESC South and Kylo targets in Main Dome Underground.
- Regional exploration yielded intercepts up to 2m @ 8.61g/t Au at the Peaches prospect.
- On track for a maiden Mineral Resource Estimate for West Dome Underground in March 2026 quarter.
What else do investors need to know?
Greatland is pushing ahead with the largest annual drilling campaign in Telfer's history, targeting multi-year mine life extensions. The company added extra drilling rigs during the period, increasing underground and RC drilling capacity to meet its ambitious targets.
Drilling at satellite deposits within trucking distance to the Telfer mill, including South-East Hub and Thomsons, has delivered promising early results and could provide additional ore sources. The partnership with Rio Tinto in Paterson South is also progressing, with follow-up drilling ongoing.
What did Greatland Resources management say?
Commenting on the result, Managing Director Shaun Day said:
The September quarter was a great start to our record 240,000m annual drilling program at Telfer, with the results to date further supporting the potential for multi-year Telfer life of mine extension from both open pit and underground opportunities.
The new high-grade zone identified at the West Dome Underground is particularly exciting. The project presents the possibility of an entirely new high-grade underground mining centre beneath the currently active West Dome Open Pit. There is ready access from the Main Dome Underground via the existing development drive already in place and a second one under development, with the ability to link to the existing Main Dome Underground crusher and hoist. We look forward to updating shareholders on the continuing progress of this project.
Our regional exploration results are encouraging and include results from several satellite deposits located on granted mining leases within proximity to the Telfer mill, with the potential to provide optionality for additional ore feed.
We will be mobilising an additional rig this month and are well placed to achieve our drilling targets to inform a significant resource update at Telfer in the March 2026 quarter.
What's next for Greatland Resources?
Looking ahead, Greatland aims to complete its ambitious 240,000-metre drilling campaign in FY26, focusing on both resource growth and resource conversion. The next key milestone is a maiden Mineral Resource Estimate at West Dome Underground, expected in the March 2026 quarter.
The company is also evaluating opportunities to bring satellite deposits into the Telfer production profile and continues to partner with Rio Tinto to progress exploration activities in the Paterson region. Investors should watch for further drilling updates and resource upgrades in coming quarters.
Greatland Resources share price snapshot
Over the past six months Greatland Resources shares have risen 3%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen around 16% over the same period.
