TIDMGGP
RNS Number : 7070I
Greatland Gold PLC
21 June 2017
21 June 2017
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR).
Greatland Gold plc
("Greatland" or "the Company")
Update on Havieron Project: Outstanding Gold Drill Intercepts
Reported by Antipa Minerals in Paterson Region
Greatland Gold plc (AIM:GGP), the precious and base metals
exploration and development company, notes that Antipa Minerals
(ASX:AZY) has reported positive high-grade gold results from its
drilling campaign at its Minyari Dome Project, approximately 35
kilometres along strike from Greatland's Havieron project.
Highlights from Antipa Minerals announcement:
-- Antipa Minerals has today reported high grade gold results at
its Minyari Dome WACA deposit located in the Paterson region of
Western Australia, including 42.0m at 7.8g/t gold from 262m
downhole (incl 13.0m at 22.1g/t gold and 1m at 222.0g/t gold), and
28.0m at 3.6 g/t gold from 13m downhole (incl 12.0m at 7.2g/t
gold);
-- Antipa's drill results represent some of the most outstanding
gold drill intersections reported in the Paterson region in recent
times and, we believe, highlight the vast exploration potential of
the Paterson region;and
-- Antipa's Minyari Dome Project is located approximately 35
kilometres north west of Greatland's Havieron project and is
approximately 30 kilometres west of Greatland's Paterson Range East
project.
Greatland recently more than doubled its potential landholding
in the Paterson region and now holds a potentially significant
strategic position of over 360 square kilometres in a region that
is seeing increasing interest from major mining companies.
Greatland's Havieron project is located approximately 40 kilometres
east of Newcrest's Telfer gold mine which has produced over 27
million ounces of gold to date. Limited historical exploration by
Newcrest in the late 1990s demonstrated high grade gold and copper
mineralisation at Havieron with peak values of 15g/t Au and 2.5%
Cu.
Gervaise Heddle, Chief Executive Officer, commented: "The
outstanding results reported today by Anitpa Minerals highlight the
potential of this exciting gold/copper district. We believe that
this announcement may significantly accelerate regional exploration
efforts by the mining companies in the region, including Newcrest,
Rio Tinto and Antipa."
Today's announcement by Antipa can be found here -
http://www.antipaminerals.com.au/uploads/3/0/3/2/30323795/minyari_dome_2017_phase_1_first_assay_resuts.pdf
A map showing the Havieron and Paterson Range East licences with
regional targets and adjacent landholdings can be found at
http://greatlandgold.com/project/2016/havieron/
Overview of Havieron and Paterson Range East Project
The Havieron and Paterson Range East licences are located in the
Paterson region of northern Western Australia. The Paterson region
hosts several large gold and copper deposits such as Telfer (27M
oz) and Nifty (2MT copper). The region has been subject to more
recent exploration which has outlined several other deposits
including Magnum (Au), Calibre (Au), O'Callaghans (Cu) and
Maroochydore (Cu).
The region is remote, however infrastructure is good with
several operating mines, roads,formed tracks and rail networks
nearby which branch out from the regional industrial hub of Port
Hedland 500km to the west.
The Paterson Province is the northern portion of the Proterozoic
Paterson Orogen. More recent exploration throughout several
Proterozoic Orogens within the western parts of the Australian
continent have resulted in the discovery of the large Tropicana
gold deposit (7.9M oz) and large Nova nickel-copper deposit (10MT).
Globally these Proterozoic Orogens are highly prospective for large
deposits, and are often under-explored.
Alteration and mineralisation of those targets which have been
drill tested at Havieron and Paterson Range East display
similarities to IOCG-type deposits. Examples of these are the large
Olympic Dam and Ernest Henry deposits in central and eastern
Australia.
Geophysical data has outlined the Havieron target as covering
approximately 1,000m x 1,000m. Depth to top of target is around
400m with these depths easily achieved with modern drilling
equipment. Only six drill holes have been completed to date with
all intersecting significant alteration and gold plus copper
anomalism.
Thick lower grade zones of gold and copper have been intersected
and within these gold grades peak at 15.4g/t and copper to 2.5%.
Current drill hole spacing is broad and so the core of Havieron
represents an immediate resource definition drilling target.
Within the Paterson Range East licence several IOCG targets have
been identified. Historically, several of these targets have been
subject to initial first-pass work and show promise at hosting
mineralisation as seen at Havieron. Basement rocks do not outcrop
and Greatland intends to employ modern geophysical methods to
define targets prior to drill testing.
Prospectivity of the Paterson Province is widely recognised with
several large industry participants present. These include Rio
Tinto, Newcrest and Antipa. Greatland's licences lie adjacent to
Rio Tinto and Antipa. Results announced by Antipa today highlight
the exploration and development potential of the Paterson Region.
Best results include 42.0m at 7.8g/t gold from 262m down hole,
including 13.0m at 22.1g/t gold and 1.0m at 222.0g/t gold. Plus
28.0m @ 3.6g/t gold form 13m downholes, including 12.0m at 7.2g/t
gold. High grade mineralisation is from near surface and highlghts
open pit potential and mineralisation remains open along strike to
the north and south and at depth.
Greatland's Havieron licence covers 137 square kilometres and
Paterson Range East covers 224 square kilometres, totalling over
360 square kilometres in the Paterson region
Additional information on the Havieron and Paterson Range East
licences 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
Luther Pendragon (Media and Investor Relations)
Harry Chathli/Ana Ribeiro/Alexis Gore
Tel +44 (0)20 7618 9100
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 six main projects; four 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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