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Greatland Gold highlights progress at key projects

“The company is in a very strong financial position to pursue its strategy of advancing exploration across its portfolio of quality projects and identifying and acquiring new underexplored projects, such as the Black Hills gold project in the Paterson region."
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The company ended the period with £4.5mln of cash

Greatland Gold plc (LON:GGP) reported on what it saw as a period of operational progress across key projects.

The company, in its interim results statement, highlighted that it had successful exploration campaigns at the Ernest Giles, Paterson and Panorama projects.

READ: Greatland Gold commences exploration at Ernest Giles

It noted that it is well financed with £4.5mln of cash and equivalents at the end of December.

Gervaise Heddle, Greatland chief executive, said: “The company is in a very strong financial position to pursue its strategy of advancing exploration across its portfolio of quality projects and identifying and acquiring new underexplored projects, such as the Black Hills gold project in the Paterson region. 

“The next 12-18 months will see the company pursue multiple targeted exploration campaigns across its portfolio, including at Ernest Giles where encouraging gold anomalies were identified during Newmont's examination of the project."

Advancing Ernest Giles

At the Ernest Giles project, the company completed geochemistry work which identified multiple gold anomalies and subsequently it has announced plans for a drill programme.

Meanwhile, at Paterson, the company saw encouraging exploration results which it believes indicate that the Havieron copper/gold target may be significantly larger than previously expected.

Panorama’s first exploration campaign in the Pilbara region confirmed the potential for a high grade zone of gold mineralisation in the northern licence while in the southern area it has identified two clusters of gold anomalies.

"The first half of the year was characterised by operational progress across all the company's key projects as well as achieving financial stability through successful fundraising,” Heddle added.

“Specifically, the first half saw strong progress and encouraging results at Ernest Giles, Paterson and Panorama projects.”

Greatland reported a £629,650 loss for the period.

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