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Greatland Gold plc RNS Release

Warrentinna Project - Commencement of Drilling

RNS Number : 3925Q
Greatland Gold PLC
29 November 2016
 

29 November 2016

 

Greatland Gold plc

("Greatland" or "the Company")

 

Warrentinna Project - Commencement of Drilling

 

 

Greatland Gold plc (LON:GGP), the London Stock Exchange AIM listed precious and base metals exploration and development business is pleased to announce that drilling has commenced at its Warrentinna project in Tasmania, Australia

 

 

Highlights

 

·     Greatland Gold's field operations team have commenced drilling at the Warrentinna gold  project in north-eastern Tasmania;

 

·     The current drilling programme includes plans for six angled reverse circulation (RC) drill  holes each to a depth of 100 metres, for a total of approximately 600 metres of RC drilling;

 

·     Current drilling programme will test for extensions to mineralisation at Derby North and  test for mineralisation below historic workings in the Golden Mara area.

 

 

Callum Baxter, Executive Director, commented: 'We are pleased to have commenced a new drilling campaign at our Warrentinna gold project. The host rocks at Warrentinna are equivalent to those found in the prolific goldfields in Victoria, south-eastern Australia which have to date produced over 50 million ounces of gold. Historic drilling at Warrentinna has demonstrated high grade gold mineralisation at the project and results show that mineralisation is from surface, providing potential for an open pitable resource.

 

We will drill several targets at Derby North following up on intercepts such as 26m at 2.32g/t gold and 5m at 29.26g/t gold. Drilling will also be completed at the Golden Mara area to test for mineralisation below historic workings.

 

We expect the drilling campaign to be completed within the next two weeks and assay results to follow thereafter.'

 

Warrentinna Project, Tasmania

 

The Warrentinna project is located in north east Tasmania and covers an area of 37 square kilometres. The project hosts several known gold occurrences, including Derby North where we have intersected significant levels of gold mineralisation, some over 50g/t.

 

As announced on 12 September 2016 we have planned additional drilling at the project and are pleased to have received all relevant government approvals for the programme.  A well equipped drill contractor has been appointed and drilling has now commenced.

 

Initially, the drilling program will comprise six angled reverse circulation (RC) drill holes, each to a maximum depth of 100m, for a total of 600m. If required, additional holes may be drilled while equipment is on site.

 

We will drill several targets at Derby North following up on intercepts such as 26m at 2.32g/t gold and 5m at 29.26g/t gold. The drill holes will focus on extending mineralisation at Derby North to the north and east. Drilling will also be completed at the Golden Mara area to test for mineralisation below historic workings.

 

The first batch of samples are expected to be dispatched to the laboratory mid December and results returned approximately four weeks later. We look forward to providing further updates in the coming weeks.

 

Additional information on the project can be found on the Company's 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:  [email protected]

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
 
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