09:49 Mon 13 Aug 2018
Greatland Gold PLC - Greatland Launches Third Exploration Programme
13 August 2018
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 Gold Launches Third Exploration Programme in the Paterson Region
Scallywag target selected for first phase of new regional exploration programme as Greatland seeks to test high priority regional gold/copper targets following excellent results from maiden exploration campaigns at
The Scallywag target, located within the Havieron licence, consists of several magnetic anomalies over a large area of approximately 6km x 4km, each with the potential to host gold and/or copper mineralisation.
Recent drilling by the Company at the Havieron target, returned excellent results including 121m at 2.93g/t gold and 0.23% copper from 497m with peak gold of 137.69g/t and copper to 4.11%.
Highlights of Regional Exploration Programme
· New exploration programme in the Paterson to test the multiple regional targets, many with a similar geophysical signature to Havieron, that were identified by a review of regional geophysical and geochemical data conducted last year by Greatland (see announcement
· First phase of new programme, expected to commence this month, will focus on the Scallywag target and includes plans for Mobile Metal Ion ("MMI") sampling with samples to be collected on an initial 400m x 200m spacing;
· Ground gravity was completed over the Scallywag target in late 2017 (see announcement
· Results of MMI sampling will be reviewed in conjunction with detailed ground gravity and airborne magnetic data to determine the most prospective areas for a maiden drilling program at Scallywag.
"Scallywag hosts coincident magnetic and gravity anomalies and is a good starting point for our exploration programme because of its relative proximity to Havieron and its potential to host the prospective basement sequence at depths of less than 100 metres."
Overview of Havieron and Scallywag Targets
The Company's Paterson project comprises the Havieron,
The Paterson region hosts several large gold and copper deposits such as Telfer (gold) and Nifty (copper). The region has been subject to more recent exploration which has outlined several other deposits including Magnum (gold), Calibre (gold), O'Callaghans (copper) and Maroochydore (copper). The region is remote, however infrastructure is good with several operating mines, roads, telecommunications, gas pipeline, formed tracks and rail networks nearby which branch out from the regional industrial hub of Port Hedland 500km to the west.
The Havieron licence, E45/4701, lies 30 km east of the large Telfer gold mine. Havieron is a granted exploration licence that covers 135 square kilometres and sits adjacent to the Company's
The Havieron target lies under approximately 400m of cover and presents itself as a coincident magnetic and gravity high approximately 600m across. Mineralisation is hosted in Proterozoic sandstone and carbonate rocks of the
Following a review of regional geophysical and geochemical data over the Paterson project (see announcement
Historically, several of these targets have been subject to initial first-pass work and show promise at hosting mineralisation as seen at Havieron. Basement rocks do not outcrop and Greatland employs modern geophysical and geochemical methods to define targets prior to drill testing.
The Scallywag target, located within the Havieron licence, was identified from this regional review and hosts several magnetic anomalies over a large area of approximately 6km x 4km with potential to host gold and/or copper mineralisation. Initial interpretation suggests the prospective basement sequence is at depths of less than 100m.
Ground gravity was completed over the Scallywag target in late 2017 (see announcement
A map of the Paterson targets showing the location of Scallywag can be found on the Company web site at www.greatlandgold.com/paterson
MMI sampling has been used effectively over the Havieron target (see announcement
Additional information on the
Competent Person:
Information in this announcement that relates to exploration results is based on information compiled by Mr
Enquiries:
Greatland Gold PLC
Tel: +44 (0)20 3709 4900
Email: info@greatlandgold.com
Tel: +44 (0)20 3368 3550
Tel: +44 (0)14 8341 3500
Harry Chathli/
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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