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Greatland Gold identifies high-priority exploration targets at Paterson Range East

Chief executive Gervaise Heddle said Greatland Gold is "very pleased" with the "encouraging data" collected from the survey

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The licence is located about 25 kilometres north of the Havieron prospect

Greatland Gold PLC (LON:GGP) said it has identified numerous high-priority exploration targets at Paterson Range East after conducting a aeromagnetic survey over the licence area.

The miner’s wholly-owned Paterson Range East licence, E45/4928, is located about 25 kilometres north of its Havieron gold-copper prospect in Western Australia.

Greatland said new aeromagnetic data collected across the licence has successfully found and defined targets with a “similar magnetic signature” to Havieron.

READ: Greatland Gold kicks off Black Hills drill programme

The group added that modelling of these targets is underway. The targets will be subject to detailed, grid-based ground gravity and surface geochemical work.

Comprehensive ground gravity and surface geochemistry is expected to start in August before being subject to further modelling and follow-up work, which could include induced polarisation or electromagnetic geophysical surveys, ahead of drilling testing.

"The combination of a focused suite of geophysical and geochemical tools provides us with a fast, effective and relatively low-cost method to screen for high-priority targets over a large area,” said chief executive Gervaise Heddle.

“We look forward to providing more detail on our exploration activities at Paterson Range East as the programme progresses."

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Price: 1.66 GBX

AIM:GGP
Market: AIM
Market Cap: £59.38 m
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