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Greatland Gold RNS Release

Further Drill Results Confirm Gold Mineralisation

RNS Number : 6003U
Greatland Gold PLC
19 January 2017
 

19 January 2017

 

Greatland Gold plc

("Greatland" or "the Company")

 

Ernest Giles - Further Drill Results Confirm Gold Mineralisation

 

 

Greatland Gold plc (LON:GGP), the London Stock Exchange AIM listed precious and base metals exploration and development business, is pleased to announce that further analysis of samples from recent drilling confirms gold mineralisation at its Ernest Giles project in Western Australia. 

 

 

Highlights

 

·     Higher grade results received from 1m re-sampling of recent RC drilling at Ernest Giles gold project in Western Australia (initial results from 4m composite samples reported on 12th January 2017);

 

·     Many significant gold results returned, up to 2g/t Au, including 2m at 1.51g/t and 1m at 1.54g/t, and anomalous silver was also noted in many samples;

 

·     Results confirm that gold mineralisation is present over a large area and suggest that Greatland has discovered a new gold province in this largely unexplored area;

 

·     Greatland will be issuing an updated presentation on the 1,000 square kilometre Ernest Giles project within the next two weeks, which will provide a detailed overview of the project, including the Meadows, Empress and Wishbone targets.

 

 

Callum Baxter, Executive Director, commented: 'We are very pleased to be able to report these results from our first systematic, wide-spaced drilling campaign at our 100% owned Ernest Giles gold project.

 

On 12th January 2017, Greatland reported that results from our recent ambitious drilling campaign at Ernest Giles had successfully identified two large zones of gold mineralisation, including a Western zone of 6km in length and 1.5km in width, and an Eastern zone of 2km in length and 1.5km in width. These results reported today provide support for the view that this large greenstone belt is highly prospective for gold and may contain similar multiple million ounce deposits as have been discovered in other large greenstone belts in Western Australia.

 

Greatland continues to explore several options to advance this exciting project. Significant results of the 1m sampling are presented in Table 1 at the end of this release.'

 

 

Summary of Results and Overview, Ernest Giles Project, Western Australia

 

The Ernest Giles project is located in central Western Australia, covering an area of 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 (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. To build on this the Company completed a comprehensive broad spaced RC drilling programme which tested several large areas based on work completed by the Company and earlier work by Western Mining Corporation.

 

The 2016 RC drill programme comprised 23 holes for 5,581m.  Hole locations were based on a broad spaced grid pattern of 1,600m x 800m. Holes were designed to test basement lithologies for gold mineralisation and also test beneath surface geochemical anomalies.

 

Mineralisation was observed in 13 of the 23 holes. Initial 4m composite analysis of drill spoils shows gold anomalism between 5 and 95ppb in more than 10 holes peaking at 784ppb. Several holes exhibiting gold anomalous zones over tens of metres, for example ERC011 140-200m (60m) peaking at 0.78g/t gold with mineralisation at end of hole, and ERC014 224-278m (54m) peaking at 0.17g/t gold also with mineralisation at end of hole.

 

Additional 1m sampling of several zones of interest was undertaken to confirm preliminary results and better define mineralisation. Only holes ERC011, ERC013 and ERC014 were sampled with a total of 174 single metre samples collected. Many significant gold results were returned up to 2g/t, including 2m at 1.51g/t and 1m at 1.54g/t. Anomalous silver was also noted in many samples. Significant results of the 1m sampling are presented in Table 1. Results confirm mineralisation is present over a large area and suggest that Greatland has discovered a new gold province in this largely unexplored region.

 

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 project area covers over 1,000 square kilometres and is host to a number of other high priority targets such as Empress and Wishbone, the former an unexplained +300ppb gold surface anomaly, and the latter an untested coincident geochemical and structural target.

 

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:  [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.

 

 

Table 1 - Ernest Giles 1m Sample Results (>14ppb gold)

 

Hole ID

From (m)

To (m)

Gold (ppb)

ERC011

142

143

85

ERC011

143

144

93

ERC011

144

145

479

ERC011

145

146

213

ERC011

146

147

48

ERC011

147

148

28

 

ERC011

150

151

17

 

ERC011

156

157

28

ERC011

157

158

42

ERC011

158

159

59

ERC011

159

160

149

ERC011

160

161

54

ERC011

161

162

1542

ERC011

162

163

439

ERC011

163

164

732

ERC011

164

165

76

ERC011

165

166

23

ERC011

166

167

41

ERC011

167

168

132

ERC011

168

169

21

ERC011

177

178

74

ERC011

181

182

37

ERC011

182

183

447

ERC011

183

184

17

ERC011

184

185

22

ERC011

186

187

207

ERC011

187

188

329

ERC011

188

189

400

ERC011

189

190

821

ERC011

190

191

1020

ERC011

191

192

1995

ERC011

192

193

137

ERC011

193

194

118

ERC011

196

197

15

ERC011

197

198

132

ERC011

198

199

42

ERC013

212

213

73

ERC013

213

214

223

ERC013

214

215

305

ERC013

269

270

34

ERC013

270

271

506

ERC013

271

272

163

ERC013

272

273

185

ERC013

273

274

35

ERC013

274

275

32

ERC013

275

276

16

ERC013

276

277

16

ERC013

277

278

41

ERC013

278

279

24

ERC013

279

280

14

ERC014

231

232

73

ERC014

232

233

158

ERC014

233

234

98

ERC014

234

235

94

ERC014

235

236

68

ERC014

236

237

53

ERC014

237

238

34

ERC014

238

239

264

ERC014

239

240

60

ERC014

240

241

142

ERC014

241

242

245

ERC014

242

243

66

ERC014

243

244

288

ERC014

244

245

40

ERC014

245

246

55

ERC014

246

247

76

ERC014

247

248

93

ERC014

248

249

127

ERC014

249

250

102


ERC014

252

253

82

ERC014

258

259

18

ERC014

270

271

42

ERC014

274

275

32

275

276

24

276

277

15

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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