TIDMGGP
RNS Number : 6984P
Greatland Gold PLC
04 September 2017
04 September 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")
Panorama Project Update
Exploration Activities at Greatland's Panorama Project to
Commence in Early October, Focusing on Potential Cobalt and Gold
Mineralisation
Further to the announcement of 12 June 2017, Greatland Gold plc
(AIM:GGP), the precious and base metals exploration and development
company, is pleased to announce plans for the first stage of
exploration activities at its Panorama project.
Highlights:
-- Key objective of the initial exploration campaign is to
outline and refine the primary target areas for further detailed
ground work and potential drilling campaigns;
-- Plans for initial field work include orientation drainage
sampling, soil sampling and geological reconnaissance;
-- Exploration activities at the Panorama project are scheduled
to commence in the first week of October.
The Panorama project consists of two adjoining exploration
licences, covering a total area of 130 square kilometres, in the
Pilbara region of Western Australia. The Panorama project occupies
a dominant and strategic position across what is potentially the
largest coherent cobalt in streams anomaly in Western Australia.
Stream sediment sampling data gathered by Anglo American
Corporation in the early 1970s outlined a 25 kilometre long by 10
kilometre wide area of highly anomalous cobalt, but very little
exploration work on the project area has been carried out
since.
Greatland also notes the increasing level of precious metals
exploration activity in the Pilbara region following recent
announcements by Novo Resources Corporation (TSX.V:NVO) and Artemis
Resources Limited (ASX:ARV) regarding high grade gold
mineralisation in bulk sampling at the Purdy's Reward prospect.
Gervaise Heddle, Chief Executive Officer, commented: "The recent
sustained strength in the cobalt price supports our view that
cobalt is becoming an increasingly important component in many of
the new technologies that are set to reshape the future of the
global energy and consumer electronics market. We intend to move
quickly with our field efforts and use this first pass exploration
work to outline primary targets ahead of next year's field
season.
"Greatland will be submitting soil, rock chip and drainage
samples for multi-element analysis to assess the areas
prospectivity for cobalt, gold and other elements. The predominant
geology of the project area is greenstone and granite of the
Archean Pilbara Craton, similar to the geology that hosts many
major gold deposits within Western Australia."
Further announcements will be made as the Company finalises its
plans for field activities.
Panorama Cobalt Project
Greatland has made application for two adjoining exploration
licences in the Pilbara Region of northern Western Australia. The
two licences total an area of 130 square kilometres and cover a
large area prospective for cobalt and gold mineralisation.
A systematic stream sediment sampling programme was completed
over the broader Pilbara region by Anglo American Corporation in
the early 1970s. Samples were collected at a nominal 2km spacing
and results from these samples have outlined a large cluster of
high cobalt in streams. Stream sediments samples consistently
returned over 50ppm cobalt, peaking at over 70ppm cobalt (against a
background of less than 5ppm cobalt). The area covered by the
anomalous cobalt is potentially the largest coherent cobalt in
streams anomaly in Western Australia being more than 25 kilometres
long and up to 10km wide covering an area of approximately 200
square kilometres. Greatland's licence applications cover the bulk
of the cobalt anomaly.
Geology of the area is predominantly greenstone and granite of
the Archean Pilbara Craton in northern Western Australia. The
definitive source of the cobalt is not yet known however it is
likely to be localised in folding and faulting of the bedrock
sequences; similar to other known styles of mineralisation in
Archean greenstones elsewhere in the Pilbara displaying drill
intercepts with high cobalt of up to 0.99%.
Historically, the Pilbara region is recognised for its gold and
base metal mineralisation but apart from the work by Anglo American
in the early 1970s very little subsequent exploration work has been
carried out within the Panorama project area leaving the cobalt
mineralisation untested. The large area of the cobalt in streams
anomaly suggests a significant mineralising event has occurred.
Current work on the project includes a review of airborne
aeromagnetics and integration of geological and geochemical data.
Resultant targets will be subject to geological reconnaissance,
soil sampling and rock chip sampling which is scheduled for Q4
2017.
Further information on the Panorama Cobalt 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
Tel +44 (0)14 8341 3500
Luther Pendragon (Media and Investor Relations)
Harry Chathli/Ana Ribeiro/Alexis Gore
Tel +44 (0)20 7618 9100
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 six main projects; four 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
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