Shares in Greatland Gold PLC (LON:GGP) surged after the exploration and development company released new rock chip results from its Black Hills licence in Australia.
Greatland collected 28 rock chip samples over the Saddle Reefs prospect at Black Hills and several rock chip samples from the Rogers prospect, none of which contained any visible gold.
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The samples were submitted for standard laboratory assay testing.
Of the 28 samples collected from Saddle Reefs, 11 returned gold values of more than 10 grams per tonne (g/t). High-grade results included 81.7g/t, 45.7g/t, 37.6g/t, 33.9g/t, 28.2g/t, 23.5g/t, 19.6g/t, 17.5g/t, 14.1g/t, 13.0g/t and 12.4g/t.
Many of the chips also returned high silver values, ranging up to 106.1 g/t.
Greatland said the results appear to roughly quadruple the strike length of gold mineralisation identified at the surface from 200 metres to around 800 metres.
At the Rogers prospect, several samples returned more than 1 g/t gold, ranging up to 8.9 g/t.
"We are delighted by these results which significantly extend the strike length of surface gold mineralisation at the Saddle Reefs prospect and further highlight the potential for Black Hills to host a large, high-grade gold deposit. Given these exciting results, we intend to quickly move forward with our exploration efforts at Black Hills and we look forward to receiving the results from the recent 3DIP survey which will be used to assist with planning Greatland's first drill campaign at Black Hills,” said Gervaise Heddle, the chief executive officer of Greatland.
#GGP - delighted @GreatlandGold https://t.co/KYzi8Iea6j
— Andrew Neal (@andrew_neal7) September 4, 2018