TIDMGGP
RNS Number : 8774Z
Greatland Gold PLC
20 March 2017
20 March 2017
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR).
Greatland Gold plc
("Greatland" or "the Company")
Bromus - Drilling Commencement
Greatland Gold plc (LON:GGP), the London Stock Exchange AIM
quoted precious and base metals exploration and development
business, is pleased to announce that drilling has commenced at the
Bromus project in Western Australia.
Highlights
-- Greatland is pleased to announce that Greatland's field
operations team has commenced drilling at the Bromus project;
-- Drilling programme consists of two drill holes that will test
two highly conductive targets which were identified by recent
downhole EM surveys (see announcement dated 14 November 2016);
-- Key objective of the drilling programme is to determine the
nature of the two conductive targets, both of which are considered
high priority targets for massive sulphide mineralisation;
-- Drilling is expected to be completed within the next two
weeks, with assay results expected to follow four weeks later.
Gervaise Heddle, Chief Executive Officer, commented: "We are
very pleased to commence drilling at Bromus and follow up on the
work done last year that identified two highly conductive targets.
In our opinion, both of these high priority targets are prospective
for nickel sulphide mineralisation.
We expect drilling to be completed within the next two weeks and
assay results should be available by the end of April."
Bromus Project, Western Australia
The Bromus project is located in southern Western Australia,
approximately 25km south west of the town of Norseman, and covers
approximately 93 square kilometres. Several significant clusters of
gold and nickel sulphide deposits lie in the region, such as those
at Central Norseman, Kambalda and Widgiemooltha. Greatland owns
100% of the project.
A review of detailed airborne geophysics defined a 4.5km long
nickel sulphide prospective ultramafic, with coherent elevated
surface geochemistry to 2,690ppm Ni, within the Bromus project
area. Field work confirmed the presence of flow textured ultramafic
lithologies and, despite the proximity to other deposits, no
previous exploration for nickel sulphides is apparent. A fixed loop
ground electromagnetic (EM) survey was completed in 2015 which
confirmed several significant bedrock conductors in the survey
area.
Such large bodies of conductive material are typically signs of
sulphide deposits. The tenor (or grade) of nickel in these deposits
can only be determined by drilling and laboratory analysis.
Recent drilling of the conductive bodies by Greatland
intersected ultramafic, mafic and granitic lithologies along with
massive and stringer sulphide mineralisation explaining the EM
response of several targets. However, the primary EM target
(BRD001) remained unexplained.
Downhole EM (DHEM) surveys were recently completed to determine
the size and orientation of conductors intersected in each hole and
to locate the conductor not intersected in BRD001.
DHEM was successful in identifying several highly conductive
targets not intersected by previous drilling by Greatland. These
targets have conductances which are consistent with massive
sulphide mineralisation and, as such, are considered high priority
targets. The conductive targets are located close to BRD001 and
BRD003. No conductive sediments were intersected in either of hole
BRD001 and BRD003 discounting these as the source of the downhole
EM response. The targets are well constrained by the modelling and
relatively shallow at approximately 100m below surface.
Modelling of DHEM data shows the conductive targets adjacent to
holes BRD001 and BRD003 are of good size being 130m x 100m and 150m
x 70m respectively. Two additional drill holes have been planned to
intersect the targets utilising existing drill pads.
Drawings of modelled EM targets for BRD001 and BRD003 with
previous drill hole traces along with new proposed holes can be
found at the following link
http://greatlandgold.com/project/2014/bromus
A Programme of Work (POW) application for additional drill holes
was lodged with the Department of Mines and Petroleum (DMP) in
Western Australia and formal approval has been received. The
drilling programme includes plans for two drill holes with each
hole approximately 180 metres for a total of 360 metres. Drilling
has commenced and we will utilise existing drill pads which will
reduce overall costs. Drilling is expected to be completed within
the next two weeks and assay results should be received four weeks
thereafter.
Additional information on the Bromus project can be found on the
Company's 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
DRLGGUMAWUPMGQB
(END) Dow Jones Newswires
March 20, 2017 03:01 ET (07:01 GMT)
Greatland Gold (LSE:GGP)
Historical Stock Chart
From Apr 2024 to May 2024
Greatland Gold (LSE:GGP)
Historical Stock Chart
From May 2023 to May 2024