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Greatland Gold identifies new anomalies at its Panorama project in the Pilbara region of Western Australia

The Mount Roe basalt sits at the base of the Fortescue Group stratigraphy that is widespread throughout the Pilbara region of Western Australia
Gold sample
The Panorama project consists of two adjoining exploration licence applications in the Pilbara region of Western Australia

Greatland Gold plc (LON:GGP) has identified new gold anomalies and confirmed the presence of gold mineralisation at its Panorama project in Western Australia.

Two clusters of gold anomalies have been identified in the southern licence that are coincident with the base of Mt Roe basalt and adjacent conglomerates.

READ: Greatland Gold says Havieron may be significantly larger than expected

The first cluster has been identified in stream sediment samples and results include 38 parts per billion (ppb) gold; 41 ppb, 48 ppb and 76 ppb. The cluster is over a strike length of one kilometre (km) with a further 5km of strike remaining untested.

The second cluster of anomalous gold was in soil samples, also in the southern licence, and extends over some 200 metres and is located in conglomerates near the base of Mt Roe basalt.

Meanwhile, on the northern licence, rock chip sampling returned results up to 18.45 grams per tonne gold, confirming previously released historical data, indicating a potential high-grade zone of gold mineralisation roughly 3.2 kilometres long.

READ: Greatland Gold making headway with exploration in Western Australia

"The results of the exploration campaign are an affirmation of management's belief in the significant potential of the Panorama project. These results provide us with a good foundation to move ahead with a more extensive exploration programme in 2018," said Gervaise Heddle, the chief executive officer of Greatland.

The shares were up 1.1% at 1.82p in mid-morning.

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