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Greatland Gold plc RNS Release

Continuity of Gold Mineralisation Extended

RNS Number : 5919V
Greatland Gold PLC
31 January 2017
 

31 January 2017

 

Greatland Gold plc

("Greatland" or "the Company")

 

Warrentinna - Continuity of Gold Mineralisation Extended

 

 

Greatland Gold plc (LON:GGP), the London Stock Exchange AIM listed precious and base metals exploration and development business is pleased to announce initial results from the recent drilling campaign at the Warrentinna gold project in Tasmania, Australia

 

 

Highlights

 

·     The recent drilling campaign at Warrentinna (see announcement dated 29th November 2016) has successfully extended the continuity of gold mineralisation at the Warrentinna project;

 

·     All holes encountered gold mineralisation with best 4m composite results including 4m at 2.8g/t Au from surface (WTR040) and 4m at 2.9g/t Au from 20m  (WTR038);

 

·     These results highlight that mineralisation remains open to the north and east, with drill holes WTR38, WTR39 and WTR40 clearly extending the continuity of gold mineralisation to the north;

 

·     Greatland Gold's field operations team will collect 1m re-samples of several zones of interest during February, and the results of these re-samples are expected to be reported in late March.

 

 

Gervaise Heddle, Chief Executive Officer, commented: "We are very pleased with these latest results at Warrentinna that further demonstrate the potential of this valuable asset. These results highlight the potential for a near-surface open pitable resource to be established at Warrentinna over the medium term."

 

Callum Baxter, Chief Technical Officer, commented: "These latest 4m composite results significantly add to our knowledge regarding the trend of mineralisation and will greatly assist in future efforts to establish a resource at Warrentinna. Mineralisation at Warrentinna remains open to the north, east and at depth.

 

We look forward to receiving the results of the 1 metre re-sampling in the near future. A map of the drilling results will be published on the Company's website within the next fortnight."

 

Summary of Results, 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 and Golden Mara where we have intersected significant levels of gold mineralisation, some over 50g/t.

 

During December 2016 the Company completed an RC drilling programme at the Warrentinna project (previously announced 29 November 2016). A total of six RC holes were drilled for 596m. Each hole was drilled to a nominal 100m depth (apart from one hole completed to a depth of 96m).  All holes were angled at 60 degrees. Five holes were drilled at the Derby North prospect (WTR037-WTR041) and one hole was drilled under historic workings at the Golden Mara prospect (WTR042).

 

All holes were sampled as 4m composites from surface to end of hole and geologically logged. Results received to date are preliminary and relate to 4m composite results only. All holes returned over 4m at 0.5g/t gold apart from one hole (WTR041). Maximum result returned from Derby North was 4m at 2,878ppb Au, and maximum result from Golden Mara was 4m at 1,071ppb Au.

 

Overall, results from drilling at Derby North were positive in that continuity of mineralisation has been enhanced over the core of the prospect. Also drilling has highlighted that mineralisation remains open, particularly to the north and east.  Intercepts from Derby North include 44m at 722ppb gold from 20m in hole WTR038 peaking at 4m 2878ppb gold from 20m and 4m at 1230ppb gold from 36m, and 72m at 262ppb gold from 24m in hole WTR039 peaking at 4m at 1254ppb gold from 56m, and 36m at 303ppb gold from 12m in hole WTR037 including 4m at 781ppb gold from 24m. In WTR040 mineralisation was observed from surface peaking at 4m at 2751ppb gold.

 

Results from drilling at Golden Mara (WTR042) were moderately encouraging and potentially significant when considered with previous results of adjacent hole WTR010 (drilled in 2008) peaking at 3m at 950ppb gold from 30m in a broad intercept of 36m of 300ppb gold from 0m.

 

Results of mineralised zones (WTR037-WTR042) are presented in Table 1.

 

1m re-sampling of several zones of interest will be carried out during February 2017 to better confirm results and better define the distribution of gold in mineralised intercepts. Results are expected to be returned from the laboratory during March 2017.

 

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.

 

 

Table 1 - Warrentinna RC Drilling 4m Composite Sample Results (+100ppb gold)

 

Hole ID

From (m)

To (m)

Gold (ppb)

WTR037

12

16

156

WTR037

16

20

101

WTR037

20

24

133

WTR037

24

28

781

WTR037

28

32

615

WTR037

32

36

249

WTR037

36

40

297

WTR037

40

44

223

WTR037

44

48

172

WTR038

0

4

187

WTR038

4

8

118

WTR038

20

24

2878

WTR038

24

28

1002

WTR038

28

32

730

WTR038

32

36

256

WTR038

36

40

1230

WTR038

40

44

385

WTR038

44

48

736

WTR038

48

52

360

WTR038

52

56

171

WTR038

60

64

115

WTR039

24

28

750

WTR039

28

32

359

WTR039

32

36

218

WTR039

36

40

204

WTR039

40

44

74

WTR039

44

48

153

WTR039

52

56

474

WTR039

56

60

1254

WTR039

68

72

213

WTR039

76

80

182

WTR039

88

92

127

WTR039

92

96

416

WTR040

0

4

2751

WTR040

4

8

412

WTR040

8

12

137

WTR040

28

32

157

WTR040

32

36

202

WTR040

36

40

201

WTR040

44

48

285

WTR040

52

56

520

WTR040

56

60

110

WTR041

16

20

217

WTR041

24

28

122

WTR041

28

32

214

WTR041

32

36

198

WTR041

36

40

205

WTR041

40

44

185

WTR042

20

24

174

WTR042

68

72

285

WTR042

72

76

1071

WTR042

76

80

181

 

 


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