TIDMGGP
RNS Number : 9651T
Greatland Gold PLC
12 January 2017
12 January 2017
Greatland Gold plc
("Greatland" or "the Company")
Ernest Giles - Large Zones of Gold Mineralisation Identified
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 successfully
identified two large zones of gold mineralisation at its Ernest
Giles project in Western Australia.
Highlights
-- An ambitious drilling campaign at Ernest Giles has
successfully identified two large zones of mineralisation, a
Western Zone of 6km in length and 1.5km in width, and an Eastern
zone of 2km by 1.5km;
-- The majority of the RC holes drilled intersected
mineralisation including several that intersected wide zones (up to
60 metres) of anomalous gold mineralisation;
-- The cover sequence was not as thick as expected with the
shallowest intercept at 119m, suggesting that Ernest Giles
represents a large, relatively near surface gold exploration
target;
-- Greatland Gold's field operations team have taken 1 metre
re-samples of several holes (results reported today are based on
initial 4m composite samples) and the results of the 1 metre
re-samples are expected within the next four weeks.
Callum Baxter, Executive Director, commented: 'We are very
pleased to report the identification of two large zones of
relatively near surface mineraliation as detected by the ambitious
drilling campaign recently completed at our 100% owned Ernest Giles
project.
Greatland's Ernest Giles project covers over 1,000 square
kilometres of a large greenstone belt which remains virtually
unexplored. These preliminary results, based on 4 metre compositie
samples, confirm our view that this large greenstone belt is highly
prospective for gold and may contain similar multiple million ounce
gold deposits as have been discovered in other large greenstone
belts in Western Australia.
We are particularly pleased with the extent of the
mineralisation identified (up to 6 kilometres in length), the wide
zones of mineralisation (gold anomalous zones over tens of metres),
and the relative proximity to surface of the mineralisation.
Greatland is currently exploring several options to further
advance this exciting project and will begin the process of
planning further work at the project once the 1 metre re-sampling
results are received.'
Summary of Results and Overview, Ernest Giles Project, Western
Australia
The Ernest Giles project is located in central Western
Australia, covering an area of 1,000 square kilometres that
includes over 120km 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. The Company is
targeting large +5m ounce deposits and clusters of several
camp-type +1m ounce gold discoveries at Ernest Giles.
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 completed a comprehensive broad
spaced RC drilling programme which tested several large areas based
on work completed by the Company and earlier work by Western Mining
Corporation.
The RC drill programme comprised 23 holes for 5,581m. Hole
locations were based on a broad spaced grid pattern of 1,600m x
800m. Holes were designed to test basement lithologies for gold
mineralisation and also test beneath surface geochemical
anomalies.
It is pleasing to report that mineralisation was observed in 13
of the 23 holes. Initial 4m composite analysis of drill spoils
shows gold anomalism between 5 and 95ppb in more than 10 holes
peaking at 784ppb. Several holes exhibiting gold anomalous zones
over tens of metres, for example ERC011 140-200m (60m) peaking at
0.78g/t gold with mineralisation at end of hole, and ERC014
224-278m (54m) peaking at 0.17g/t gold also with mineralisation at
end of hole.
Results of drilling outline two, large, north-west trending
zones of mineralisation. The Western Zone being 6km long and 1.5km
wide and open to the north, and the Eastern Zone 2km long and 1.5km
wide which remains open to the north and south.
The cover sequence was not as thick as expected with shallowest
intercept of 119m, but generally around 180m depending on location.
Varying basement lithologies were intersected including basalt,
band iron formation and syenite. Silica and biotite alteration were
prevalent with quartz veining and sulphide mineralisation.
Additional 1m re-sampling of several holes has been completed to
confirm initial results and better define mineralisation. Results
of the 1m samples are expected to be received within 4 weeks.
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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