Greatland Gold PLC (LON:GGP) has identified four distinct zones of gold mineralisation at its wholly-owned Black Hills licence in northern Western Australia.
The company is now planning its first exploration programme at Black Hills, which is scheduled to commence within the next few weeks.
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Greatland Gold said a review of historic data has highlighted the potential for high-grade, near-surface gold mineralisation at several prospects throughout the Black Hills licence including Saddle Reefs, Eastern, Rogers and Northern Granites.
At the Saddle Reefs prospect, strong surface gold mineralisation is present, with rock chip results including 55.6 grams per tonne (g/t), 20.0g/t and 19.65g/t, over an area of around 1,400 metres (m) by 800m.
On the Eastern prospect, there is a linear zone of gold mineralised stratigraphy apparent over a strike of about 4km; broad-spaced drilling along the zone has returned results including 1m at 10.0g/t gold from 16m, 1m at 4.93g/t from 12m and 1m at 3.12g/t from 37m.
Greatland Gold added that both the Rogers and Northern Granites show prospective gold mineralisation at the surface with rock chip results including 50.2g/t, 10.45g/t and 6.9g/t.
WATCH: Greatland Gold to kick off exploration in coming weeks at Black Hills
"Our first exploration programme at Black Hills marks another important step for Greatland. Sitting near the 27 million ounce Telfer gold deposit and hosting an equivalent style of mineralisation, Black Hills represents a compelling and high priority exploration opportunity for the company,” said Gervaise Heddle, the chief executive officer of Greatland Gold.
"Results from our forensic review of the historic[al] data have further highlighted the licence's prospectivity for multiple zones of high-grade, near-surface gold mineralisation. Importantly, this means that exploring Black Hills' potential will be a relatively low-cost and low-risk endeavour, but one with substantial potential upside,” he added.
Shares in Greatland were up 6.4% at 0.58p in mid-morning trading.