Greatland Gold PLC (AIM:GGP, OTC:GRLGF) said the latest exploration results in the Paterson region of Western Australia indicate more potential gold mineralisation that can be followed up once the Telfer and Havieron acquisition is completed.’
Shaun Day, Greatland’s managing director, added; “Completion of our transformational acquisition of Havieron and Telfer is targeted for this December quarter, and ownership of the Telfer infrastructure greatly enhances the value of exploration success in our Paterson portfolio.
“Greatland will emerge from the acquisition with interests in up to approximately 4,500 square kilometres of tenure in the Paterson, providing significant option value within our exploration portfolio.”
Latest exploration results were from areas between the Telfer and Havieron deposits with first pass reconnaissance drilling at the Chilly prospect showing a best result of 37m at 0.21 g/t gold and 0.13% copper from a depth of 136m, including one metre at 6.1 g/t gold.
Elsewhere in the region, Greatland said that drilling at Teague intersected veining, sulphides and alteration while strong magnetic and gravity targets identified at Atlantis for future drilling.
Drilling is now underway at the London and Bootstrap prospects, added the statement.
Day added that the results at Chilly and Teague were ‘highly encouraging’.