TIDMGGP
RNS Number : 9460U
Greatland Gold PLC
24 January 2017
24 January 2017
Greatland Gold plc
("Greatland" or "the Company")
Ernest Giles - New Drilling Programme
Greatland Gold plc (LON:GGP), the London Stock Exchange AIM
listed precious and base metals exploration and development
business, is pleased to announce that planning has commenced for an
additional drilling programme at the Ernest Giles gold project.
Highlights
-- Greatland's geology team is preparing to lodge a Programme of
Work application for a comprehensive drilling campaign at the
Empress gold target which lies in the north-eastern portion of the
Ernest Giles project;
-- Previous surface sampling at the Empress target identified a
3km x 1km gold in soil anomaly with a peak value of 338ppb Au;
-- The Programme of Work application for Empress will seek
approval for a wide-spaced RC drilling campaign, including an
estimated 5,000 metres of drilling (approximately 20 drill
locations);
-- The key objectives of this campaign will be to seek to
explain the highly elevated gold in soil anomaly at Empress and to
test for the presence of gold mineralisation in the wider area.
Gervaise Heddle, Chief Executive Officer, commented: 'We are
very pleased to announce that planning has commenced for an
additional comprehensive drilling campaign at the Ernest Giles
project in Western Australia.
On the 12(th) January 2017 and 19(th) January 2017, Greatland
reported results from a successful drilling campaign at the Meadows
target that lies in the south-west of the Ernest Giles project.
This new campaign will target a large unexplained gold in soil
anomaly at the Empress target which is located in the north-east of
the Ernest Giles project area (approximately 50 kilometres
north-east of Meadows).
The MMI gold in soil anomaly at Empress is higher grade and
potentially more extensive than that encountered at the Meadows
target (peak values of 338ppb Au at Empress and 68ppb Au at
Meadows), and we hope that this campaign will help us to explain
the unusually high gold in soil anomaly in this part of the Ernest
Giles greenstone belt.
Our view remains that the Ernest Giles project has the potential
to host several major gold camps and we hope that this new drilling
campaign will further demonstrate the potential of this vast and
virtually unexplored greenstone belt.
At this stage, we expect relevant Government approvals to be
received by the end of February and pre-drilling field operations
to commence in early March.'
Overview of Ernest Giles Project and the Empress Gold Target
The Ernest Giles project is located in central Western
Australia, covering an area of more than 1,000 square kilometres
that includes over 120km of strike of gold and nickel prospective
rocks. The area is covered by desert sands and sediments, making it
virtually unexplored. The region is home to several successful
exploration discoveries such as Tropicana (AngloGold ASX:AGG),
which contains over 7 million ounces, and Yamarna/Gruyere (Gold
Road Resources ASX:GOR), with over 6 million ounces. The Company is
targeting large +5m ounce deposits and clusters of several
camp-type +1m ounce gold discoveries at Ernest Giles.
Earlier drill programmes by the Company at Ernest Giles
intersected gold mineralisation and large alteration systems in
wildcat drilling of blind structural targets defined by detailed
airborne geophysics. This was considered a major achievement for
such a large prospective area with virtually no historical
work.
In late 2016, the Company completed a comprehensive broad spaced
RC drilling programme at Meadows in the south-east of the project
area which tested several large areas based on work completed by
the Company and earlier work by Western Mining Corporation. This RC
drill programme comprised 23 holes for 5,581m. Hole locations were
based on a broad spaced grid pattern of 1,600m x 800m.
Mineralisation was observed in 13 of the 23 holes and several
holes exhibited gold anomalous zones over tens of metres, peaking
at 0.78g/t gold with mineralisation at end of hole. Two large zones
of mineralisation were identified; Western 6km x 1.5km and Eastern
2km x 1.5km. Additional 1m sampling of several intercepts was
undertaken to confirm preliminary results and better define
mineralisation with many significant gold results returned up to
2g/t. Results confirmed mineralisation is present over a large area
at Meadows and suggest that Greatland has discovered a new gold
province in this largely unexplored region.
In late 2014, the Company completed a restricted programme of
Mobile Metal Ion (MMI) surface geochemistry over several target
areas which were outlined from interpretation of detailed
aeromagnetics. Sample spacing was at a nominal 800m x 200m. Results
from this sampling were positive over the Meadows area (peaking at
68ppb gold), and also at the Empress area. At Empress many samples
returned +5ppb gold, which is quite high for MMI results, plus
several above 40ppb gold peaking at 338ppb gold at the eastern
extremity of three consecutive sample lines potentially outlining a
significant anomaly 3km long by 1km wide which remains open to the
east.
Greatland intends to lodge a Programme of Work application with
the Western Australian Government which will seek approval for a
comprehensive, wide spaced, RC drilling campaign at Empress of
approximately 20 drill holes for an estimated 5,000 metres of
drilling. The key objectives of this campaign will be to explain
the highly elevated gold in soil anomaly at Empress and to test for
the presence of gold mineralisation in the wider area.
The Company will continue with planning of additional drill hole
locations and further surface geochemistry along with a review of
previous work. It should be noted that the Ernest Giles project
area covers over 1,000 square kilometres and is host to a number of
other high priority targets such as Wishbone (a high priority
structural target), and Maple (a coincident MMI and structural
target in the west of the project area).
Additional information on the Ernest Giles project can be found
on the Company web site at www.greatlandgold.com/projects
Competent Person:
Information in this announcement that relates to exploration
results is based on information compiled by Mr Callum Baxter, a
director of Greatland Gold plc, who is a member of the Australasian
Institute of Mining and Metallurgy and Australian Institute of
Geoscientists. Mr Baxter has sufficient experience relevant to the
style of mineralisation and type of deposit under consideration and
to the activity which has been undertaken to qualify as a Competent
Person as defined by the 2012 Edition of the Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves (the JORC Code) and under the AIM Rules - Note for Mining
and Oil & Gas Companies. Mr Baxter consents to the inclusion in
the announcement of the matters based on their information in the
form and context in which it appears.
Enquiries:
Greatland Gold PLC
Callum Baxter/Gervaise Heddle
Tel +44 (0)20 7747 9980
Email: info@greatlandgold.com
www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated Adviser)
Mark Brady/Sean Wyndham-Quin/James Keeshan
Tel +44 (0)20 3368 3550
SI Capital Limited (Broker)
Nick Emerson / Andy Thacker
Tel +44 (0)14 8341 3500
Notes for Editors:
Greatland Gold plc is London listed (LON:GGP) natural resource
exploration and development company with a current focus on gold
and nickel exploration projects.
The Company has five main projects; three situated in Western
Australia and two in Tasmania. All projects are 100% owned by
Greatland or Greatland has the right to take 100% ownership.
Greatland is seeking to identify large mineral deposits in areas
that have not been subject to extensive exploration previously. It
is widely recognised that the next generation of large deposits
will come from such under-explored areas and Greatland is applying
advanced exploration techniques to investigate a number of
carefully selected targets within its focused licence
portfolio.
The Company is also actively investigating a range of new
opportunities in precious and strategic metals and will update the
market on new opportunities as and when appropriate.
Note: This announcement contains inside information which is
disclosed in accordance with the Market Abuse Regulation.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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