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Greatland Gold starts new drilling at Warrentinna gold project

Analysis will reveal if there are similarities between the style of mineralisation at Derby North and the gold finds in the state of Victoria

Greatland Gold PLC - Greatland Gold starts drilling at Warrentinna gold project
Previous tests showed intervals at 103.25 grams per tonne (g/t) and 3.05 g/t of gold

Greatland Gold PLC (LON:GGP) has started a new drilling programme at the Derby North prospect on its Warrentinna gold project in Tasmania, Australia.

In a statement, the firm said the programme consists in diamond drilling two holes to a depth of 125 metres each, with the purpose of identifying if there are similarities between the style of mineralisation at Derby North and the gold finds in the state of Victoria.

READ: Greatland Gold identifies multiple drilling targets at Paterson Range East

The group said the data will help to evaluate the project in terms of a potential sale, in line with the AIM-listed miner’s strategy to divest non-core assets and focus on those assets delivering value in the medium term.

Previous surface rock chip sampling followed by reverse circulation drilling returned results including intervals at 103.25 grams per tonne (g/t) and 3.05 g/t of gold, the group added.

Greatland's chief executive Gervaise Heddle commented in the release: “We are pleased to have commenced a targeted, low-cost drilling programme at Warrentinna which aims to provide us with valuable information regarding the style of mineralisation and will assist in evaluating the potential of the project.”

“The drill core and associated data will be assessed to determine whether the style of mineralisation at Warrentinna is similar to that seen in the central Victorian goldfields, a world-class gold province,” he added.

Quick facts: Greatland Gold PLC

Price: 1.638 GBX

AIM:GGP
Market: AIM
Market Cap: £58.6 m
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