An ongoing review of historical data and initial field reconnaissance has highlighted additional gold potential at the Panorama project in the Pilbara region of Western Australia held by Greatland Gold plc (LON:GGP).
Amongst the highlights from the northern licence area are multiple historic rock chip samples with an elevated gold response along a 3.2 kilometre zone, including results of 10.5 grams per tonne gold, 14 grams per tonne and 66 grams.
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Greatland's technical team has now completed field reconnaissance along this zone and has confirmed that visual indications of mineralisation are present. Verification rock chip sampling of this area are currently being conducted.
Meanwhile, on the southern licence area, government geological mapping has confirmed the presence of coarse grained sandstones and conglomerates at two locations, with one of the areas showing a co-incident gold in streams anomaly peaking at 4.6ppb gold.
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"Today's announcement further highlights the potential for gold mineralisation across both the Northern and Southern licence areas of the Panorama project,” said chief executive Gervaise Heddle.
"Historic rock chip and stream sampling results suggest that there is a 3.2 kilometre long zone of gold mineralisation in the northern licence area that extends along strike from historical gold mines immediately to the north of our northern licence application.”
In late afternoon trading, Greatland shares were around 4%, or 0.1p lower at 2.28p, having gained about 200% last week.
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