TIDMGGP
RNS Number : 1495M
Greatland Gold PLC
11 October 2016
11 October 2016
Greatland Gold plc
("Greatland" or "the Company")
Ernest Giles - Commencement of Drilling
Greatland Gold plc (LON:GGP), the London Stock Exchange AIM
listed precious and base metals exploration and development
business is pleased to announce that drilling has commenced at its
Ernest Giles project in Western Australia.
Highlights
-- Greatland Gold's field operations team have commenced
drilling at the Ernest Giles gold project;
-- The current drilling programme includes plans for
approximately 6,000 metres of RC drilling on a wide-spaced grid
pattern (circa 1,600m x 800m drill hole spacing);
-- Key objectives of the current RC drilling campaign are to
follow up on previous drilling and soil sampling that identified
gold, arsenic and antimony anomalies and to identify targets for
follow up exploration; and
-- Greatland is also pleased to announce that it has expanded
its interest in the region by applying for an additional three
contiguous licences covering a further 775 square kilometres of the
greenstone belt.
Callum Baxter, Executive Director, commented: 'We are very
pleased to have commenced drilling at our 100% owned Ernest Giles
project. We hope that this ambitious, wide-spaced RC drilling
programme will offer us further insight into a portion of a large
greenstone belt that remains relatively unexplored and that this
campaign will offer up some interesting targets for follow up
exploration.
We would remind investors that the larger greenstone belts in
Western Australia host a significant proportion of the multiple
million ounce gold deposits found to date in Western Australia. It
is our intention is determine whether similar deposits may be
hosted within this remote and largely unexplored greenstone
belt.
In order to best protect our shareholders' interests, Greatland
has made application for an additional three contiguous licences
covering 775 square kilometres of greenstone taking the Company's
total project area to over 1,000 square kilometres and covering
more than 120km of strike of gold prospective rocks. The
opportunity to secure 100% ownership of a large greenstone sequence
is, from a global perspective, a unique opportunity as we aim to
tap the potential of this large project.
We expect the drilling programme will take up to six weeks to
complete with assay results to follow. We will continue to announce
developments at the Ernest Giles project over the weeks ahead as
drilling progresses.'
Ernest Giles Project, Western Australia
The Ernest Giles project is located in central Western
Australia, covering an area of 270 square kilometres that includes
over 30km of strike of gold and nickel prospective rocks. The area
is covered by desert sands and sediments, making it virtually
unexplored. The region is home to several successful exploration
discoveries such as Tropicana (AngloGold ASX:AGG), which contains
over 7 million ounces, and Yamarna (Gold Road Resources ASX:GOR),
with over 6 million ounces.
Earlier drill programmes by the Company at Ernest Giles
intersected gold mineralisation and large alteration systems in
wildcat drilling of blind structural targets defined by detailed
airborne geophysics. This is considered a major achievement for
such a large prospective area with virtually no historical work. To
build on this the Company has committed to a comprehensive RC
drilling programme which will test several large areas based on
work completed by the Company and earlier work by Western Mining
Corporation. The Company is targeting large +5m ounce deposits and
clusters of several camp-type +1m ounce gold discoveries.
The total number of drill holes and metres to be drilled will be
dependent on results received and mineralisation intersected, but
will initially consist of approximately 30 RC holes for 6,000m.
To support the potential of the project, Greatland has made
application for an additional three contiguous licences covering
775 square kilometres of greenstone taking the Company's total
project area to over 1,000 square kilometres and covering more than
120km of strike of gold prospective rocks.
Additional information on the Ernest Giles project can be found
on the Company web site at www.greatlandgold.com/projects
Competent Person:
Information in this announcement that relates to exploration
results is based on information compiled by Mr Callum Baxter, a
director of Greatland Gold plc, who is a member of the Australasian
Institute of Mining and Metallurgy and Australian Institute of
Geoscientists. Mr Baxter has sufficient experience relevant to the
style of mineralisation and type of deposit under consideration and
to the activity which has been undertaken 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 & Gas Companies. Mr Baxter consents to the inclusion in
the announcement of the matters based on their information in the
form and context in which it appears.
Enquiries:
Greatland Gold PLC
Callum Baxter/Gervaise Heddle
Tel +44 (0)20 7747 9980
Email: info@greatlandgold.com
www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated Adviser)
Mark Brady/Sean Wyndham-Quin/James Keeshan
Tel +44 (0)20 3368 3550
SI Capital Limited (Broker)
Nick Emerson / Andy Thacker
Tel +44 (0)14 8341 3500
Notes for Editors:
Greatland Gold plc is London listed (LON:GGP) natural resource
exploration and development company with a current focus on gold
and nickel exploration projects.
The Company has five main projects; three situated in Western
Australia and two in Tasmania. All projects are 100% owned by
Greatland or Greatland has the right to take 100% ownership.
Greatland is seeking to identify large mineral deposits in areas
that have not been subject to extensive exploration previously. It
is widely recognised that the next generation of large deposits
will come from such under-explored areas and Greatland is applying
advanced exploration techniques to investigate a number of
carefully selected targets within its focused licence
portfolio.
The Company is also actively investigating a range of new
opportunities in precious and strategic metals and will update the
market on new opportunities as and when appropriate.
Note: This announcement contains inside information which is
disclosed in accordance with the Market Abuse Regulation.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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