Greatland Gold PLC (LON:GGP) told investors that it is set to secure a licence, after it won a government conducted ballot.
The company’s licence application now takes preference, and, the Western Australian Department of Mines, Industry Regulation and Safety (DMIRS) has recommended the licence to be granted to the company.
WATCH: Greatland Gold to kick off exploration in coming weeks at Black Hills
It covers a 25 square kilometre area adjacent to both the company’s existing Panorama project licences - taking the total licence area to 155 square kilometres.
Greatland noted that the first exploration campaign at Panorama had identified several gold anomalies and confirmed the potential for a high grade zone of gold mineralisation.
"We are very pleased to expand our footprint in the Pilbara region and to consolidate the ground adjacent to our existing licences,” said Gervaise Heddle, Greatland chief executive.
“We look forward to providing an update regarding our exploration plans at Panorama once we complete a full technical review of the new licence area."