Greatland Gold PLC (LON:GGP) says it had hit “several broad intersections” of gold mineralisation during drilling at its Black Hills project in Western Australia.
The AIM-listed miner said results from the drilling, its first at the site, had confirmed gold mineralisation at the Saddle Reefs prospect, with Greatland’s chief executive Gervaise Heddle saying the project had “significant potential” despite still being in its early stages.
READ: Greatland Gold reveals latest ‘excellent’ drill results from Havieron project
The CEO added that the company would conduct “additional analysis” once the remaining drilling results were received to determine the best way forward.
Greatland said it had received “encouraging” four-metre composite results with several broad intersections and was awaiting further assay results before analysing single-metre samples to more accurately determine the location of the mineralisation.
In mid-morning trading on Monday, Greatland’s shares were 3.7% lower at 1.8p.