Greatland Gold confirms surface gold at Panorama project
"We are very encouraged by the results from our soil sampling campaign at Panorama"
Company
LON:GGP
Greatland Resources is a new leading Australian gold and copper producer, operating the Telfer gold mine, one of Australia’s largest gold-copper mining complexes. The company is concurrently developing the nearby world-class Havieron gold-copper project and exploring across a significant regional portfolio.
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"We are very encouraged by the results from our soil sampling campaign at Panorama"
Greatland Gold is building a track record of exploration success in Australia
The miner said results from the drilling, its first at the site in Western Australia, had confirmed gold mineralisation at the Saddle Reefs prospect
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The latest batch of results from Newcrest's Phase 1 drilling have impressed and the mining major is now preparing for a larger Phase 2 programme
Greatland's market capitalisation is now over £60mln, and it is attracting some serious support
The broker initiated the explorer at 'buy' with a 4p target, a 122% premium on its current share price
The AIM-listed explorer said it had unearthed additional gold nuggets around 1km further south-west from others discovered on 8 July
The firm said it would conduct “extensive” new geophysical surveys at the site, including ground gravity and induced polarisation, to help identify drill targets
The funds will be used initially to advance the group’s Scallywag target as well as other high-priority areas identified at its Paterson Range East licence
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The exploratory work found high-grade copper and gold at depth pointing to the potential for a significant underground mine
London lacks a gold mining champion of any real substance
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Chief executive Gervaise Heddle said Greatland Gold is "very pleased" with the "encouraging data" collected from the survey
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