Greatland Gold PLC - Greatland Advances Exploration at Scallywag
15 August 2019
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).
Greatland Gold plc
("Greatland" or "the Company")
Greatland Advances Exploration at Scallywag Prospect
Extensive new geophysical surveys, including ground gravity and Induced Polarisation ("IP"), to follow up on encouraging early exploration results at Scallywag
The Scallywag gold-copper prospect sits within the E45/4701 Havieron licence, approximately 6km west of the 12 block area under a Farm-in Agreement with
Highlights of New Exploration Programme
· Extensive new geophysical surveys, including IP and ground gravity, to follow encouraging early exploration results at high-priority Scallywag prospect.
· Ground gravity survey (to commence in August):
o Ground gravity will be collected across the Scallywag prospect and surrounding areas.
o Approximately 1,580 gravity stations are planned at 400m x 200m spacing, infilling to 200m x 200m across the Scallywag prospect itself.
· Induced Polarisation survey (to commence in September):
o 25 line kilometres of high-powered, deep-sensing 2D IP planned across the Scallywag prospect.
o The IP technique has the ability to detect disseminated sulphide mineralisation like that seen at the Havieron prospect, and will also assist in structural mapping and determining cover depth.
· 3D modelling of the gravity and detailed aeromagnetic data will be completed and reviewed with IP profiles to determine drill targets.
Further information on the Company's Paterson project can be found on the Paterson project page of Greatland's website at: www.greatlandgold.com/paterson/
The Company's Paterson project comprises the Havieron,
Greatland's drilling campaigns at Havieron have yielded excellent results to date, including:
· HAD001: 121m @ 2.9g/t Au and 0.23% Cu from 497m
· HAD003: 21m @ 3.8g/t Au and 0.44% Cu from 418m
· HAD005: 103m @ 3.5g/t Au and 0.93% Cu from 459m; and
[email protected] 7.4g/t Au and 0.54% Cu from 660m
· HAD006: 54m @ 2.7g/t Au and 0.79% Cu from 471m; and
179.1m @ 1.4g/t Au and 0.47% Cu from 547.9m
· HAD008: 67m @ 2.0g/t Au and 0.91% Cu from 426m
Ongoing drilling by
· HAD006: 12m @ 3.1g/t Au and 0.08% Cu from 1,071m; and
52m @ 7.0g/t gold and 0.17% Cu from 1,122m, incl
17m @ 21g/t Au and 0.39% Cu from 1,153m
· HAD011 39m @ 1.1g/t Au and 0.82% Cu from 754m; and
14m @ 2.9g/t Au and 1.1% Cu from 779m; and
48m @ 0.59g/t Au and 0.90% Cu from 838m
The Paterson region is currently one of the most active exploration areas in
It is widely recognised that additional gold-copper discoveries in the Paterson will come from areas under cover, and that geophysics is a critical component of the discovery process. For example, Greatland's exploration success at Havieron was largely driven by the application of detailed aeromagnetic and ground gravity geophysical data sets and subsequent modelling.
Overview of Scallywag Prospect
The Scallywag prospect lies approximately 6km west of the Havieron prospect within the Havieron licence. The Scallywag prospect is located within E45/4701 and is 100% owned by Greatland.
Scallywag is a large, elongate magnetic anomaly with a strike length of more than 6km. It is interpreted to be a structurally deformed sedimentary dome feature under approximately 50-100m of cover. Geophysical programmes completed to date by Greatland include reprocessing of existing 50m line spaced aeromagnetic data and collection of ground gravity (400m x 200m).
MMI sampling over the Scallywag prospect was completed in late Q3 2018 at a sample spacing of 400m x 200m. MMI results from Scallywag displayed discrete elevated gold, copper, silver and arsenic MMI responses along the western parts of the target area over a strike length of approximately 6km. Supporting pathfinder elements of cerium, lanthanum, iron and lead were also coincident along this trend with several clusters of samples displaying a strong multi element response. Highest results returned from MMI sampling were 8ppb silver, 50ppb arsenic, 0.4ppb gold, 480ppb cerium, 2750ppb copper, 280ppb lanthanum and 240ppb lead. Response of certain groupings (or suites) of elements over parts of the Scallywag target are similar to those that were seen in MMI sampling over the Havieron prospect.
Greatland has planned 25 line kilometres of high-powered deep-sensing 2D IP across the Scallywag prospect. The IP technique has the ability to detect disseminated sulphide mineralisation like that seen at the Havieron prospect, and will also assist in structural mapping and determining cover depth.
Ground gravity will also be collected at the Scallywag prospect (to close station spacing) and across the remainder of the Havieron licence E45/4701 (with the exception of the 12 block area within E45/4701 subject to the Farm-in Agreement with
The ground gravity survey is currently expected to commence during August, and the IP survey at Scallywag is expected to commence in September.
In addition to this release, a PDF version of this report, with supplementary information can be found at the Company's web site www.greatlandgold.com/media/jorc
Information in this announcement that relates to exploration results is based on information compiled by Mr
Information in this announcement that relates to exploration results has been extracted from the following announcements:
"Rio Tinto Exploration Update - Winu project", dated
"First Results from
"Rio Tinto Exploration Update - Winu project", dated
"Rio Tinto Exploration Update - copper-gold mineralisation discovered in the
"Positive Gravity and MMI Results from
Greatland Gold PLC
Tel: +44 (0)20 3709 4900
Email: [email protected]
Tel: +44 (0)20 3368 3550
Tel: +44 (0)14 8341 3500
Tel: +44 (0)20 7260 1000
Tel: +44 (0)20 7618 9100
Notes for Editors:
The Company has six main projects; four situated in
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 news service of the
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