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Greatland Gold extends Firetower strike length to at least 200m

Initial drilling programme at Firetower East has “clearly demonstrated the potential” for a volcanic hosted massive sulphide (VHMS) system

Greatland Gold PLC -

Greatland Gold PLC (LON:GGP) said final tests at its Firetower prospect in Tasmania have confirmed a defined mineralisation over a strike length of more than 200 metres.

Two final test holes of a combined 670m were drilled to complete the campaign and test new targets.

READ: Greatland Gold confirms gold, silver, and zinc at Firetower

Greatland said the drilling intersected zinc, gold and silver mineralisation in the second drill hole at Firetower East, “underscoring the potential for a volcanic hosted massive sulphide (VHMS) system with precious metal content in addition to base metals”.

VHMS deposits are a significant source of the world's zinc, copper, lead, gold and silver ores.

The results from the Firetower East hole included 31m at 2,581 parts per million zinc from a depth of 184m, including 3m at 8,745ppm zinc from 191m, and 1m at 2.1 grammes per tonne of gold from 224m.

Results from the final hole at the main Firetower prospect showed 1m at 0.54g/t of gold from 119m and defined mineralisation along a strike length of more than 200m, with the mineralisation remaining open along strike to the east and west.

The campaign also demonstrated a “robust” southerly dipping mineralised zone up to 50m wide, persisting to depths of 125m and which remains open at depth.

“These results finalise a positive set of overall drilling results from our 2019 Firetower campaign,” said chief executive Gervaise Heddle, adding that confirming the strike length had “moved the project up the value curve”.

He added: “We are also particularly pleased that our first drill programme at Firetower East has now clearly demonstrated the potential for a VHMS system. The intersection of new base metal and gold mineralisation 500m east of Firetower has immediately created prospective new target zones between and along strike from the two prospects.”

Quick facts: Greatland Gold PLC

Price: 5.206 GBX

AIM:GGP
Market: AIM
Market Cap: £188.27 m
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