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Greatland Gold launches third exploration programme at Paterson project in Western Australia

Published: 09:32 13 Aug 2018 BST

gold bars and dollar bills
The Scallywag target covers a large area of approximately 6km x 4km

Precious metals explorer Greatland Gold PLC (LON:GGP) is to kick off a new exploration programme at its Patterson project in Western Australia.

The new programme will focus on the Scallywag target, which is located with the Havieron licence and consists of several magnetic anomalies, each of which has the potential to host gold and/ or copper mineralisation.

WATCH: Greatland Gold announces third stream of Paterson exploration

News of the third programme comes on the back of “excellent results” from maiden exploration campaigns at Black Hills and Havieron, and all three will run in parallel with one another.

The first phase of the new programme is expected to begin later this month.

“The Paterson region remains relatively underexplored and we believe that it is highly prospective for large mineralised systems,” said chief executive Gervaise Heddle.

“Our licences host multiple large magnetic anomalies, similar in scale and structure to Havieron, and, over the course of the next twelve months, we intend to pursue a systematic programme of regional exploration that will test a number of these additional regional targets.

READ: Progress at Havieron, Black Hills and Ernest Giles leaves Greatland in ‘strongest position ever’

He added: “Scallywag hosts coincident magnetic and gravity anomalies and is a good starting point for our exploration programme because of its relative proximity to Havieron and its potential to host the prospective basement sequence at depths of less than 100 metres.”

Shares were broadly flat at 1.18p on Monday morning.

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on 22/2/24