Greatland
Gold plc (AIM: GGP)
E: info@greatlandgold.com
W: https://greatlandgold.com
:
twitter.com/greatlandgold
NEWS RELEASE
| 8 February
2024
Results of drilling at Ernest
Giles
Anomalous gold mineralisation and pathfinder
geochemistry confirmed and geological model refined at Meadows
Prospect
Greatland Gold plc (AIM:GGP) (Greatland or the Company) is pleased to advise that the
WA Government Exploration Incentive Scheme (EIS) co-funded drilling program has
been successfully completed and all assays returned at the Meadows
gold prospect within the Company's 100% owned Ernest Giles project
(Ernest Giles).
Highlights
§ Two diamond core (DD) holes
completed for 1,267.7m
§ Anomalous mineralisation of
8m @ 0.12g/t Au from 316m returned from EGD006, associated with
alteration and anomalous pathfinder geochemistry.
§ Drilling results provide
important geological and structural information to inform a
systematic reverse circulation drill program planned for this year
to systematically test highly prospective targets at Meadows
prospect.
§
Ground induced polarization (IP) survey planned for later in 2024 to
further refine targets, along with further airborne geophysics.
Greatland Managing Director, Shaun Day,
commented:
"Completing the Land Access Agreement and EIS co-funded
drilling at Ernest Giles is a significant milestone for the
project, marking the first on-ground exploration in over five
years."
"Ernest Giles is an exciting 100% owned project that sits
outside our strong foothold in the Paterson region, in an
underexplored Archean greenstone belt that hosts many Tier 1
deposits."
"These initial results are encouraging and confirm the
prospectivity of the project. The results will inform further
exploration work, including a more extensive drilling program this
year."
Completed drilling program
The two completed EIS co-funded
diamond core drill holes EGD005 & EGD006 provided the first
angled diamond holes and oriented core at Meadows, critical for
improving the geological understanding of the project and guiding
future targeting.
Figure 1: EIS drilling at Meadows with interpreted geology on
airborne magnetics
Drilling confirmed that gold
anomalism is hosted within altered basalts, banded iron formation
(BIF) and syenite (Figure 1). The mineralised zone of 8m @
0.12g/t Au from 316m in EGD006 is associated with thin quartz -
carbonate veinlets in silica-sericite-chlorite and albite
alteration in the basalt host (Figure 2). Hematite alteration
was also observed. The syenite intersected in EGD005 shows
gold is associated with disseminated pyrite with silica-sericite,
albite and hematite alteration and quartz-carbonate
veining.
Figure 2: EGD006 320-324m Mineralised
intercept, with silica-sericite-chlorite alteration and
veining
The results
indicate an encouraging broad, weak (Au-Ag-Cu-Zn) mineralisation. This
could be the edge of a larger system. The anomalism is geologically
controlled by generally east-dipping vein sets and vein-associated
alteration. A correlation was noted between the weak
gold-silver mineralised intercepts, geochemically anomalous, low
order bismuth (Bi) values and the chlorite-carbonate alteration
zones. The peak Cu value of 1,178ppm from 390.2m in EGD006
was in a highly sulphidic altered BIF unit. These associations can
be used to better target further drilling.
Further work
A follow up RC drilling program is
being designed for H2 2024, utilising the information gained from
the recently completed drilling, and historical drilling results,
to systematically test highly
prospective geological targets in the Meadows
prospect, with a focus on mineralised fluid
pathway elements and an in-depth review of the alteration across
the prospective folded BIF system in the South Meadows target
area.
A detailed ground induced
polarization (IP) survey is
being planned for later in 2024 to refine the targeting approach.
The target shear hosted Archean gold systems regularly have an
associated alteration system that includes disseminated sulphides.
The IP survey involves a number of electrical receivers at surface
recording the response created by a generator transmitting
electrical current into the ground. This electrical charge
accumulates on the surface of the individual sulphide grains, and
when the generator is turned off the sulphides slowly discharge
(similar to a battery) and the receivers at surface record this
signal. The more and finer grained sulphides in the alteration
system, the stronger the signal received at surface.
The IP survey allows rapid cost
effective identification of sulphide haloes around orebodies.
Additional ongoing work will also include airborne geophysics
to better understand the geology of the entire Ernest Giles
belt.
Overview of the Ernest Giles project
The Ernest Giles project is located
approximately 250km north-east of the town of Laverton and covers a
folded belt of magnetic greenstone rocks (Figure 3) which is
typical of the highly gold and nickel endowed parts of the Archean
Goldfields of Western Australia. The Goldfields host large gold
camps such as Kalgoorlie, St Ives, Leonora, Laverton, Mt Magnet,
Jundee, Gruyere and Tropicana. The prospective greenstone sequence
at Ernest Giles does not outcrop and, as a consequence, is
underexplored relative to the remainder of the
Goldfields.
Greatland's granted and
under-application tenure at Ernest Giles comprises a comprehensive
holding over what Greatland considers are the most prospective near
surface portions of the Ernest Giles belt, covering more than
1,950km2.
Figure 3: Laverton, Yamarna and Ernest Giles greenstone
belts
Contact
For further information, please
contact:
Greatland Gold plc
Shaun Day, Managing Director
| info@greatlandgold.com
Nominated Advisor
SPARK Advisory Partners
Andrew Emmott / James Keeshan / Neil
Baldwin | +44 203 368 3550
Corporate Brokers
Berenberg | Matthew
Armitt / Jennifer Lee | +44 203 368 3550
Canaccord Genuity |
James Asensio / George Grainger | +44 207 523 8000
SI Capital Limited |
Nick Emerson / Sam Lomanto | +44 148 341
3500
Media Relations
UK - Gracechurch Group | Harry
Chathli / Alexis Gore / Henry Gamble | +44 204 582
3500
Australia - Fivemark Partners
| Michael Vaughan | +61 422 602 720
About Greatland
Greatland is a mining development
and exploration company focused primarily on precious and base
metals.
The Company's flagship asset is the
world-class Havieron gold-copper project in the Paterson
Province of Western Australia, discovered by Greatland and
presently under development in joint venture with world gold
major, Newmont Corporation.
Havieron is located approximately
45km east of Newmont's existing Telfer gold mine. The box cut and
decline to the Havieron orebody commenced in February 2021.
Total development now exceeds 3,060m including over 2,110m of
advance in the main access decline (as at 31 December
2023). Subject to a positive feasibility study and Decision
to Mine, Havieron is intended to leverage the existing Telfer
infrastructure and processing plant. Access to Telfer would
de-risk the development and reduces capital expenditure.
Greatland has a proven track record
of discovery and exploration success and is pursuing the next
generation of tier-one mineral deposits by applying advanced
exploration techniques in under-explored regions. Greatland has a
number of exploration projects across Western Australia and in
parallel to the development of Havieron is focused on becoming a
multi-commodity miner of significant scale.
Competent Persons Statement
Information in this announcement pertaining to
Reporting of Exploration Results has been reviewed and approved by
Mr Damien Stephens, a Member of the AusIMM, who has more than 30
years relevant industry experience. Mr Stephens is a
full-time employee of the Company and has a financial interest in
Greatland. Mr Stephens has sufficient experience relevant to
the style of mineralisation and type of deposit under
consideration, and to the activity which he is undertaking to
qualify as a Competent Person as defined by the 2012 Edition of the
Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (the JORC Code) and under the AIM Rules
- Note for Mining and Oil and Gas Companies, which outline
standards of disclosure for mineral projects. Mr Stephens
consents to the inclusion in this announcement of the matters based
on this information in the form and context in which it
appears. Mr Stephens confirms that the Company is not aware
of any new information or data that materially affects the
information included in the historical market announcements, and
that the form and context in which the information has been
presented has not been materially modified.
Appendix 1: 2023 Drilling at
Ernest Giles
Table 1: Anomalous results from EIS
Co-funded Greatland Drilling 2023
Hole ID
|
From
|
To
|
Element
|
Grade (ppm)
|
Meters
|
Intercept
|
EGD005
|
307
|
308
|
Au
|
0.20
|
1
|
1m @
0.20ppm Au
|
326
|
327
|
Au
|
0.13
|
1
|
1m @
0.13ppm Au
|
355
|
356
|
Au
|
0.14
|
1
|
1m @
0.14ppm Au
|
365
|
366
|
Au
|
0.15
|
1
|
1m @
0.15ppm Au
|
423
|
424
|
Au
|
0.17
|
1
|
1m @
0.17ppm Au
|
EGD006
|
316
|
324
|
Au
|
0.12
|
8
|
8m @
0.12ppm Au
|
374
|
375
|
Au
|
0.17
|
1
|
1m @
0.17ppm Au
|
390.2
|
391.3
|
Cu
|
1178
|
1.1
|
1.1m @
0.12% Cu
|
Note: intercepts were calculated
using a 0.1ppm Au cut off, minimum interval of 1m and maximum
internal waste of 3m.
Table 2: 2023 Drilled Holes at
Ernest Giles
Hole
|
Type
|
East
|
North
|
RL AHD
|
Grid
|
Depth
|
Dip
|
Drilled
|
EGD005
|
DD
|
602280
|
7017800
|
458
|
MGA20_51
|
567.7
|
-60
|
255
|
EGD006
|
DD
|
599912
|
7017747
|
458
|
MGA20_51
|
700.0
|
-55
|
255
|
Appendix 2: JORC Table
1
Section 1 Ernest Giles Project: Sampling Techniques and
Data
Criteria
|
JORC Code Explanation
|
Commentary
|
Sampling
techniques
|
§ Nature and quality of
sampling (eg cut channels, random chips, or specific specialised
industry standard measurement tools appropriate to the minerals
under investigation)
§ Include reference to
measures taken to ensure sample representivity and the appropriate
calibration of any measurement tools or systems
used
§ Aspects of the determination
of mineralisation that are Material to the Public
Report
§ In cases where 'industry
standard' work has been done this would be relatively simple (eg
'reverse circulation drilling was used to obtain 1 m samples from
which 3 kg was pulverised to produce a 30 g charge for fire
assay'). In other cases more explanation may be required, such as
where there is coarse gold that has inherent sampling problems.
Unusual commodities or mineralisation types (eg submarine nodules)
may warrant disclosure of detailed information
|
§ Diamond drilling (Greatland 2023 Drilling)
- Holes were collared and drilled with the mud rotary technique
to estimated near basement of Permian cover.
- In
Archean and Proterozoic basement, quarter core was sampled on a
single metre basis, modified by geological boundaries as decided by
the geologist.
- The
entire sample was crushed and pulverized to provide a 50g charge
for fire assay for gold and 48 element 4 acid digest ICP-MS
analysis.
|
Drilling
techniques
|
§ Drill type (eg core, reverse
circulation, open-hole hammer, rotary air blast, auger, Bangka,
sonic, etc) and details (eg core diameter, triple or standard tube,
depth of diamond tails, face-sampling bit or other type, whether
core is oriented and if so, by what method, etc)
|
§ Diamond drilling
- A
diamond core drilling rig was used to complete angled
holes.
- A
combination of HQ and NQ2 core size was used.
- Core
was orientated every 3-6m run or as practicable, using the ACT3
tool
|
Drill sample
recovery
|
§ Method of recording and
assessing core and chip sample recoveries and results
assessed
§ Measures taken to maximise
sample recovery and ensure representative nature of the
samples
§ Whether a relationship
exists between sample recovery and grade and whether sample bias
may have occurred due to preferential loss/gain of fine/coarse
material
|
§ Recovery
is measured on core and reconciled against driller's depth blocks
in each core tray. Basement core recovery is typically around
100%
§ No
specific measures have been taken to maximise recovery, other than
employing skilled drillers
§ No
relationship between recovery and grade has been
observed
|
Logging
|
§ Whether core and chip
samples have been geologically and geotechnically logged to a level
of detail to support appropriate Mineral Resource estimation,
mining studies and metallurgical studies
§ Whether logging is
qualitative or quantitative in nature. Core (or costean, channel,
etc) photography
§ The total length and
percentage of the relevant intersections logged.
|
§ The
logging comprises a combination of quantitative and qualitative
features. The entire hole is logged.
§ Geological
logging recorded qualitative descriptions of lithology, alteration,
mineralisation, veining, and structure of key geological
features.
§ Digital
data was recorded on site and stored in an SQL database.
§ pXRF and
mag susc measurements were taken of every metre of core in the
targeted basement Archaean lithologies.
|
Sub-sampling techniques and
sample preparation
|
§ If core, whether cut or sawn
and whether quarter, half or all core taken.
§ If non-core, whether
riffled, tube sampled, rotary split, etc and whether sampled wet or
dry
§ For all sample types, the
nature, quality and appropriateness of the sample preparation
technique
§ Quality control procedures
adopted for all sub-sampling stages to maximise representivity of
samples
§ Measures taken to ensure
that the sampling is representative of the in situ material
collected, including for instance results for field
duplicate/second-half sampling
§ Whether sample sizes are
appropriate to the grain size of the material being
sampled
|
§ All
samples were freighted by road to the laboratory.
§ All core
is cut with an automatic core saw, and quarter core samples sent to
the laboratory for assay.
§ All drill
samples were sent to Intertek Laboratories in Kalgoorlie for sample
prep and to Perth for analysis.
§ As part of
the terms of the EIS co-funding arrangement, the preserved half
core is sent to the DEMIRS Core Library for permanent storage and
later XRF scanning.
§ The sample
sizes (0.5-3kg) are considered appropriate for the material being
sampled.
|
Quality of assay data and
laboratory tests
|
§ The nature, quality and
appropriateness of the assaying and laboratory procedures used and
whether the technique is considered partial or
total
§ For geophysical tools,
spectrometers, handheld XRF instruments, etc, the parameters used
in determining the analysis including instrument make and model,
reading times, calibrations factors applied and their derivation,
etc
§ Nature of quality control
procedures adopted (eg standards, blanks, duplicates, external
laboratory checks) and whether acceptable levels of accuracy (ie
lack of bias) and precision have been
established.
|
§ The drill
samples were assayed for Au by a 50g fire assay and multi-element
scan using 4 acid digest and MS and OES finish for pathfinder and
lithogeochemical elements. The assays are considered total rather
than partial
§ Blanks and
CRMs were inserted roughly every 25 samples in diamond
core.
§ laboratories in- house QA/QC methods include duplicates ,
standard and blank assays for each batch.
§ Analysis
of the quality control sample assay results indicates that an
acceptable level of accuracy and precision has been
achieved.
§ Comparison
of the original laboratory files and the database plus database
logs indicates no analytical data has been numerically
manipulated.
|
Verification of sampling and
assaying
|
§ The verification of
significant intersections by either independent or alternative
company personnel.
§ The use of twinned
holes
§ Documentation of primary
data, data entry procedures, data verification, data storage
(physical and electronic) protocols
§ Discuss any adjustment to
assay data.
|
§ No twinned
holes have been completed
§ All data
entry procedures, including original logging, sample depth
selection for sampling and recording of sample numbers are recorded
digitally in an electronic database
§ There are
no adjustments to assay data, other than below detection samples
are reported at negative one half the detection limit.
|
Location of data
points
|
§ Accuracy and quality of
surveys used to locate drill holes (collar and down-hole surveys),
trenches, mine workings and other locations used in Mineral
Resource estimation.
§ Specification of the grid
system used.
§ Quality and adequacy of
topographic control
|
§ Drill
collar and surface sample locations were surveyed using hand held
GPS. RL's were collected with the same GPS
§ Holes were
aligned by compass mark out and field checking by the
geologist
§ Downhole
survey was by AXIS gyro tool every 30m downhole as drilling
progressed
§ The
topography is generally low relief to flat, elevation within the
dune corridors in ranges between 250-265m AHD steepening to the
southeast
§ All
coordinates are provided in the Geocentric Datum of Australian
(MGA2020 Zone 51). All relative depth information is reported in
Australian Height Datum (AHD)
|
Data spacing and
distribution
|
§ Data spacing for reporting
of Exploration Results
§ Whether the data spacing and
distribution is sufficient to establish the degree of geological
and grade continuity appropriate for the Mineral Resource and Ore
Reserve estimation procedure(s) and classifications
applied
§ Whether sample compositing
has been applied
|
Diamond drilling was designed to
test stratigraphy and follow up previous Au anomalism in vertical
RC holes, testing geochemical and geophysical anomalies.
The drill data spacing is not
sufficient for calculation of a mineral resource or reserve and
none is reported.
|
Orientation of data in
relation to geological structure
|
§ Whether the orientation of
sampling achieves unbiased sampling of possible structures and the
extent to which this is known, considering the deposit
type
§ If the relationship between
the drilling orientation and the orientation of key mineralised
structures is considered to have introduced a sampling bias, this
should be assessed and reported if material
|
§ Drilling
was angled at 55 - 60o into what are expected to be
dominantly vertical stratigraphy.
|
Sample
security
|
§ The measures taken to ensure
sample security
|
The security of samples is
controlled by tracking samples from drill rig to
database
|
Audits or
reviews
|
§ The results of any audits or
reviews of sampling techniques and data
|
§ No audits
or reviews have been completed
|
Section 2 Ernest Giles Project: Reporting of Exploration
Results
Criteria
|
JORC Code explanation
|
Commentary
|
Mineral tenement and land
tenure status
|
Type, reference name/number, location and ownership including
agreements or material issues with third parties such as joint
ventures, partnerships, overriding royalties, native title
interests, historical sites, wilderness or national park and
environmental settings
The security of the tenure held at the time of reporting along
with any known impediments to obtaining a licence to operate in the
area
|
The Ernest Giles tenements E38/3185 and E38/2205 are 100%
owned by Greatland Pty Ltd
Land Access Agreements were negotiated with the native title
holders and claimants for the tenements in use for the drilling
program.
|
Exploration done by other
parties
|
Acknowledgment and appraisal of exploration by other
parties
|
CRA initially carried out an aeromagnetic survey in the mid
90's.
WMC after reviewing the geophysics interpreted the area as
containing Archean greenstones, and completed regional soils and
gravity surveys along with 200m spaced aeromagnetic and 8 RC holes
(ENGC01-8) over what is now the Meadows prospect, identifying
anomalous gold between 1996 and 1999.
MRG metal completed further aeromagnetics and 3 diamond
holes (EY4001-EY4003) in the region from 2011 to
2015.
|
Geology
|
Deposit type, geological setting and style of
mineralisation
|
Exploration is for Yilgarn style Archean lode gold
deposits.
|
Drill hole
Information
|
A
summary of all information material to the understanding of the
exploration results including a tabulation of the following
information for all Material drill holes:
easting and northing of the drill hole
collar
elevation or RL (Reduced Level - elevation above sea level in
metres) of the drill hole collar
dip and azimuth of the hole
down hole length and interception depth
hole length
If
the exclusion of this information is justified on the basis that
the information is not Material and this exclusion does not detract
from the understanding of the report, the Competent Person should
clearly explain why this is the case
|
Drill hole collar details are listed in Appendix 1 (Table 2)
and anomalous results in Appendix 1 (Table 1).
|
Data aggregation
methods
|
In
reporting Exploration Results, weighting averaging techniques,
maximum and/or minimum grade truncations (eg cutting of high
grades) and cut-off grades are usually Material and should be
stated
Where aggregate intercepts incorporate short lengths of high
grade results and longer lengths of low grade results, the
procedure used for such aggregation should be stated and some
typical examples of such aggregations should be shown in
detail
The assumptions used for any reporting of metal equivalent
values should be clearly stated
|
No
economically significant results have been reported, and no data
aggregation methods have been applied
Where anomalous results are quoted (Appendix 1, Table 1) the
samples have been selected as follows:
Au
>0.1ppm with a maximum consecutive internal waste of
3m
|
Relationship between
mineralisation widths and intercept lengths
|
These relationships are particularly important in the
reporting of Exploration Results
If
the geometry of the mineralisation with respect to the drill hole
angle is known, its nature should be reported
If
it is not known and only the down hole lengths are reported, there
should be a clear statement to this effect (eg 'down hole length,
true width not known')
|
No
economically significant results are reported, and there is no
known relationship between reported widths and the geometry of any
mineralisation.
All intercepts are reported downhole as true width is not
known.
|
Diagrams
|
Appropriate maps and sections (with scales) and tabulations of
intercepts should be included for any significant discovery being
reported These should include, but not be limited to a plan view of
drill hole collar locations and appropriate sectional
views
|
Maps are provided in Figures 1 &2. No significant
discovery is reported.
|
Balanced
reporting
|
Where comprehensive reporting of all Exploration Results is
not practicable, representative reporting of both low and high
grades and/or widths should be practiced to avoid misleading
reporting of Exploration Results
|
The reporting is considered balanced
|
Other substantive exploration
data
|
Other exploration data, if meaningful and material, should be
reported including (but not limited to): geological observations;
geophysical survey results; geochemical survey results; bulk
samples - size and method of treatment; metallurgical test results;
bulk density, groundwater, geotechnical and rock characteristics;
potential deleterious or contaminating substances
|
No
other substantive exploration data other than that provided in the
figures
|
Further
work
|
The nature and scale of planned further work (eg tests for
lateral extensions or depth extensions or large-scale step-out
drilling)
Diagrams clearly highlighting the areas of possible
extensions, including the main geological interpretations and
future drilling areas, provided this information is not
commercially sensitive
|
Systematic .infill of anomalous RC and diamond drilling and
ground geophysics programs are planned for the Meadows
prospect
|