Greatland Gold PLC - Exploration to Commence at Paterson Range East
22 May 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 to Commence Exploration Programme at Paterson Range East
High-resolution, low level aeromagnetic survey covering entire
- Greatland to conduct a new, detailed, low level airborne magnetic survey to cover the entire
Paterson Range Eastlicence.
- The survey comprises approximately 5,200-line kilometres at a line spacing of 50m and is expected to commence in early June.
- New survey will significantly increase the resolution of approximately twenty magnetic targets previously identified across the licence and will assist in the geological and structural interpretation of those targets.
- Resultant data will be used with other geophysical and geochemical data sets to prioritise targets within the Paterson Range East licence.
- High priority targets are expected to be subject to additional geophysical and geochemical work and further detailed modelling and drill testing.
"The aeromagnetic survey at Paterson Range East is part of an important and ongoing process to prioritise the multiple geophysical targets that we have across our Paterson licences. We look forward to providing investors with more detail on the high priority targets at Paterson Range East over the next few months as we apply the knowledge gained at Havieron to our exploration efforts across the region."
The Company's Paterson project comprises the Havieron,
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.
Following an internal review of historical regional geophysical and geochemical data over the western Paterson region approximately fifty targets have been identified with some twenty five in ground held by Greatland, and around twenty within the Paterson Range East licence. Basement rocks are interpreted to be predominantly calcareous rich sandstones intruded by several late stage granitic bodies. Historically, several of these targets have been subject to initial first-pass work and show promise at hosting mineralisation as seen at Havieron. The geophysical signature of these targets is similar to that at Havieron, i.e. the targets display a strong magnetic response relative to the host rocks.
A detailed, low level 50m line spaced aeromagnetic survey was collected over Havieron in 2005 (by a previous operator) and this data was critical in delineation and drill targeting for Greatland's highly successful 2018 campaign (HAD001-HAD009). To expand this successful approach Greatland has commissioned a new, detailed, low level airborne magnetic survey to cover the entire
The new survey commissioned by Greatland will significantly increase resolution of the currently identified magnetic targets and assist in geological and structural interpretation. Resultant data will be used with other geophysical and geochemical data sets to prioritise the many targets within the Paterson Range East licence. More favourable targets will undergo further detailed modelling and drill testing. Commencement of the airborne survey is currently scheduled for early
Additional information on the Paterson Range East licence can be found at the Company's web site www/greatlandgold.com
Information in this announcement that relates to exploration results is based on information compiled by Mr
Greatland Gold PLC
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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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