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Greatland hits high grade gold in drilling at Warrentinna

Greatland has a track record of gold discovery in Australia

Greatland Gold PLC -

Greatland Gold PLC (LON:GGP) has intersected high-grade gold mineralisation from its maiden diamond drilling programme at Derby North, a prospect within the Company's 100% owned Warrentinna project in Tasmania, Australia.

Among the highlights was a 21.7 metre intercept grading 3.3 grams per tonne gold from a depth of 9.3 metres.

Greatland previously conducted limited reverse circulation drilling at Derby North, which outlined a gold mineralised system approximately 150 metres long and 100 metres wide, open to the north, east and at depth.

The company has now completed its maiden diamond drilling programme at the prospect with three diamond holes for a total of 285 metres of drilling.

This targeted drilling campaign was designed to provide a better understanding of the host rocks, type and tenor of gold mineralisation, and highlight any structural controls. Laboratory assay results have now been received and are announced today.

Other highlights included 2.2 metres grading 12 grams gold, 11.7 metres grading 2.8 grams gold and 43 metres grading 1.5 grams gold.

"These positive results from our maiden diamond drilling campaign at Warrentinna further increase the depth extent of the known mineralised zone and clearly demonstrate the potential for a significant gold mineralised system at Derby North,” said Gervaise Heddle, chief executive of Greatland.  

"The drill core and associated data collected has greatly improved the company's understanding of the mineralised system and should assist with any potential divestment of the project. Our immediate next step is to complete an evaluation of the results to assess the project's potential, referencing orogenic-type gold occurrences in central Victoria which include the Fosterville and Bendigo gold deposits."

Quick facts: Greatland Gold PLC

Price: 33 GBX

Market: AIM
Market Cap: £1.28 billion

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