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Greatland Gold plc RNS Release

Bromus - Drilling Approvals Received

RNS Number : 9819Y
Greatland Gold PLC
09 March 2017
 

9 March 2017

 

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

 

Greatland Gold plc

("Greatland" or "the Company")

 

Bromus - Drilling Approvals Received

 

 

Greatland Gold plc (LON:GGP), the London Stock Exchange AIM quoted precious and base metals exploration and development business, is pleased to announce that the Company has received approval to commence drilling at the Bromus project in Western Australia.

 

 

Highlights

 

·     Greatland is pleased to announce that the Programme of Work application for the planned drilling programme at the Bromus project (see announcement dated 20 February 2017) has been approved by the Western Australian Department of Mines and Petroleum;

 

·     Programme of Work application includes permission for two drill holes, both of which will utilise existing drill pads, that will target highly conductive targets which were identified by recent downhole EM surveys (see announcement dated 14 November 2016);

 

·     The two targets are relatively shallow, well constrained by modelling and can be drilled from existing drill pads, thereby reducing the overall cost of this drilling campaign;

 

·     Drilling is expected to commence within the next few weeks and a further announcement will be made at that time.

 

 

Gervaise Heddle, Chief Executive Officer, commented: "We are very pleased to be able to move forward with drilling at the Bromus project. This drilling campaign will target two of the highly conductive targets that were identified by downhole EM modelling late last year and which, in the opinion of Southern Geosciences Consultants Pty Ltd, represent high priority targets for massive sulphide mineralisation.

 

We expect drilling to commence within the next few weeks. We will make further announcements as appropriate."

 

 

Bromus Project, Western Australia

 

The Bromus project is located in southern Western Australia, approximately 25km south west of the town of Norseman, and covers approximately 93 square kilometres. Several significant clusters of gold and nickel sulphide deposits lie in the region, such as those at Central Norseman, Kambalda and Widgiemooltha. Greatland owns 100% of the project.

 

A review of detailed airborne geophysics defined a 4.5km long nickel sulphide prospective ultramafic, with coherent elevated surface geochemistry to 2,690ppm Ni, within the Bromus project area. Field work confirmed the presence of flow textured ultramafic lithologies and, despite the proximity to other deposits, no previous exploration for nickel sulphides is apparent. A fixed loop ground electromagnetic (EM) survey was completed in 2015 which confirmed several significant bedrock conductors in the survey area.

 

Such large bodies of conductive material are typically signs of sulphide deposits. The tenor (or grade) of nickel in these deposits can only be determined by drilling and laboratory analysis.

 

Recent drilling of the conductive bodies by Greatland intersected ultramafic, mafic and granitic lithologies along with massive and stringer sulphide mineralisation explaining the EM response of several targets. However, the primary EM target (BRD001) remained unexplained.

 

Downhole EM (DHEM) surveys were recently completed to determine the size and orientation of conductors intersected in each hole and to locate the conductor not intersected in BRD001.

 

DHEM was successful in identifying several highly conductive targets not intersected by previous drilling by Greatland. These targets have conductances which are consistent with massive sulphide mineralisation and, as such, are considered high priority targets. The conductive targets are located close to BRD001 and BRD003. No conductive sediments were intersected in either of hole BRD001 and BRD003 discounting these as the source of the downhole EM response. The targets are well constrained by the modelling and relatively shallow at approximately 100m below surface.

 

Modelling of DHEM data shows the conductive targets adjacent to holes BRD001 and BRD003 are of good size being 130m x 100m and 150m x 70m respectively. Two additional drill holes have been planned to intersect the targets utilising existing drill pads.

 

Drawings of modelled EM targets for BRD001 and BRD003 with previous drill hole traces along with new proposed holes can be found at the following link  http://greatlandgold.com/project/2014/bromus.

 

A Programme of Work (POW) application for additional drill holes was lodged with the Department of Mines and Petroleum (DMP) in Western Australia and formal approval has been received. We will utilise existing drill pads which has expedited the approvals process and will reduce overall costs. Drilling is expected to commence in the coming weeks and a further announcement will be made at that time.

 

Additional information on the Bromus 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.

 

 

 


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