Greatland Gold plc (LON:GGP) has told investors it will advance the Firetower project in Tasmania towards an exploration target of 1mln ounces of gold.
It comes after a technical review of the project highlighted potential for a geophysical programme (using induced polarisation) to assist in outlining gold mineralisation in areas untested by previous drilling.
The company added that it has now received all necessary approvals for the proposed survey, now expected to start within the next week. It will cover a strike length of 1.6 kilometres over the immediate gold mineralised zone at Firetower as well as high priority target areas to the west and east.
WATCH: Greatland Gold to kick off new exploration programme at Firetower
If the campaign proves successful, the exploration model could be extended across other parts of the project area.
The results will also help plan a future drilling programme which is currently slated for the fourth quarter, but, could be brought forward if ground conditions are suitable.
"This is one of three drilling and exploration campaigns announced by Greatland Gold in 2018, as we continue to deliver on our commitment to advance exploration at our portfolio of projects,” said Gervaise Heddle, Greatland chief executive.
“The new exploration programme at Firetower aims to unlock the true potential of this high grade near surface deposit, which has the potential to extend across four kilometres of strike, and to advance the project towards its exploration target of one million ounces of gold."