Greatland Gold plc (LON:GGP) will begin a new exploration programme next week at its Black Hills licence in Western Australia following drilling approvals from the Australian Department of Mines.
The AIM-listed gold miner said the first phase of the programme included plans for a 3D induced polarisation survey (3DIP) (a geophysical imaging technique) covering a strike length of 1,200 metres over the high-grade gold mineralised zone identified at the Saddle Reefs prospect as well as areas immediately to the north and south of the area.
READ: Greatland Gold announces new drilling campaign at Havieron project
The company also said a review of historical induced polarisation data collected at the licence had highlighted the potential for the 3DIP to outline the orientation and depth potential of gold mineralisation that had been identified at the surface.
The 3DIP survey is expected to take around two weeks to complete, with the data processed to be sued in the planning of the drill programme.
The drilling programme is the second to be unveiled by the company so far this month after it announced a second drilling campaign at its Havieron licence at the start of July following “encouraging” results from the final three holes drilled during its first programme at the site.
Gervaise Heddle, chief executive of Greatland Gold, said: “The identification of visible gold at surface means that exploring Black Hills' potential will be a relatively low-cost and low-risk endeavour, but one with substantial upside potential.”
In mid-morning trading Tuesday, Greatland Gold shares were up 2.4% at 1.4p.