TIDMGGP
RNS Number : 9118D
Greatland Gold PLC
05 February 2018
5 February 2018
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR).
Greatland Gold plc
("Greatland" or "the Company")
Greatland Gold to Commence New Exploration Programme at its
Ernest Giles Project
Drilling campaigns planned for Meadows, Wishbone and Empress
areas at Greatland's 100% owned Ernest Giles project
Further to the announcement of 15 January 2018, Greatland Gold
plc (AIM: GGP), the precious and base metals exploration and
development company, is pleased to announce new exploration plans
for its Ernest Giles project.
Highlights of the new exploration plans include:
-- Drilling three high priority targets at Meadows, Wishbone and Empress areas;
-- Prior to the commencement of drilling, Mobile Metal Ion
("MMI") surveys will be completed at the Meadows, Wishbone and
Empress areas;
-- Drill programme at the Meadows area will consist of
approximately twenty-four RC drill holes to test the 5km x 1.5km
anomaly defined by Deep Sensing Geochemistry ("DSG") work which
remains untested by previous Greatland drilling;
-- Up to six RC holes to be completed at the Wishbone and
Empress areas to test basement geology and physical rock
properties;
-- Drilling preparation activities and MMI sampling at Ernest
Giles will commence in Q1 2018 with drilling commencement expected
in Q2 2018;
-- All required Programme of Work applications for drilling have
been lodged with the Western Australian Department of Mines,
Industry Regulation and Safety.
Gervaise Heddle, Chief Executive Officer, commented: "We are
very pleased to be moving forward with a new exploration programme
at the Ernest Giles project. This new programme follows the
successful results from previous exploration conducted at the
project, which strengthened our belief that Ernest Giles has the
potential to host several multi-million-ounce gold deposits. We
look forward to providing a further update once all approvals have
been received.
"The Company expects to make further announcements regarding
exploration plans at its other key projects over the next couple of
months."
Overview of Ernest Giles Project
The Ernest Giles project is located in central Western
Australia, covering an area of more than 2,000 square kilometres
that includes over 230km 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 seven million ounces, and Yamarna/Gruyere, Gold
Road Resources (ASX: GOR) and Gold Fields Ltd (NYSE: GFI), with
over 6 million ounces. The Company is targeting large +5 million
ounce deposits and clusters of several camp-type +1 million 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 airborne
geophysics. This was considered a major achievement for such a
large prospective area with virtually no historical work.
In late 2016, the Company completed a comprehensive broad spaced
Reverse Circulation ("RC") drilling programme at Meadows in the
south-east of the project area which tested several large areas
based on work completed by the Company and earlier work by Western
Mining Corporation. This RC drill programme comprised 23 holes for
5,581m. Holes were drilled on a broad spaced grid pattern of 1,600m
x 800m.
Mineralisation was observed in 13 of the 23 holes and several
holes exhibited gold anomalous zones over tens of metres, peaking
at 0.78g/t gold with mineralisation at end of hole. Two large zones
of mineralisation were identified; Western 6km x 1.5km and Eastern
2km x 1.5km. Additional 1m sampling of several intercepts was
undertaken to confirm preliminary results and better define
mineralisation with many significant gold results returned up to
2g/t. Results confirmed mineralisation is present over a large area
at Meadows and suggest that Greatland has discovered a new gold
province in this largely unexplored region.
In late 2014, the Company completed a restricted programme of
Mobile Metal Ion ("MMI") surface geochemistry over several target
areas which were outlined from interpretation of detailed
aeromagnetics. Sample spacing was at a nominal 800m x 200m. Results
from this sampling were positive over the Meadows area (peaking at
68ppb gold), and at the Empress area. At Empress many samples
returned +5ppb gold, which is quite high for MMI results, plus
several above 40ppb gold peaking at 338ppb gold at the eastern
extremity of three consecutive sample lines potentially outlining a
significant anomaly 3km long by 1km wide which remains open to the
east.
In May 2017, a detailed airborne survey was acquired over the
northern sequences and the newly secured Ernest Giles East block
which includes an 800 square kilometre area covering a 90km long
north-south trending sequence of rocks that represents a
continuation of the gold prospective greenstone sequence.
In June 2017, a comprehensive ground gravity survey was
completed over parts of the Western licences at a station spacing
of 1,600m x 200m. Data was collected over the Empress, Wishbone and
greater Meadows area. The ground gravity data integrated with
airborne magnetics highlighted several additional targets conducive
to gold mineralisation at each of the areas surveyed.
During September 2017, Greatland completed its initial work over
the Eastern block. The Eastern block, covering 800 square
kilometres, represents an extension of the gold prospective Ernest
Giles greenstone sequences. Work included broad spaced ground
gravity and first pass MMI sampling. Gravity work was completed on
a station spacing of 1,600m x 200m while MMI samples were collected
on 3,200m x 400m centres.
MMI results outlined multiple gold anomalies over approximately
60km of strike. Many anomalies present as clusters of elevated
responses over several adjoining east-west sample traverses with
peak responses up to 1.3ppb gold (against a background of
0.0-0.1ppb). Several anomalies exhibit a strike length in excess of
9km and up to 3km wide. Ground gravity and detailed airborne
magnetics confirms the MMI anomalies lie subparallel to the
regional geological strike or within cross cutting structures
displaying demagnetisation of bedrock geology.
Newmont Exploration Pty Ltd carried out a Deep Sensing
Geochemistry ('DSG') survey at the Ernest Giles project during
2017. DSG sampling was completed at the Meadows area and results
successfully defined several gold anomalies, the most significant
of which is large at approximately 5km long and 1.5 km wide in the
vicinity of previous Greatland drilling which had intersected gold
mineralisation in Archean basement rocks under 100-200m of
cover.
Greatland intends to conduct MMI sampling on an initial 800m x
200m grid at the Meadows area over a strike of approximately 8km.
Greatland also intends to conduct MMI sampling on an initial 1600m
x 400m grid at Wishbone and Empress. MMI sampling will be completed
in advance of a programme of RC drilling. The anticipated drill
programme at Meadows will consist of approximately twenty-four
holes to test the 5km x 1.5km anomaly defined by DSG work which
remains untested by previous Greatland drilling. RC holes will be
drilled on an initial 800m x 800m grid to depths of around 300m to
350m each. In addition, up to six RC holes will be completed at
Wishbone and Empress to test basement geology and physical rock
properties. All required Programme of Work applications for
drilling have been lodged with the Western Australian Department of
Mines, Industry Regulation and Safety.
Drilling preparation activities and MMI sampling at Ernest Giles
will commence in Q1 2018 with drilling commencement expected in Q2
2018.
Additional information on the Ernest Giles project can be found
on the Company web site at www.greatlandgold.com/projects.
Enquiries:
Greatland Gold PLC
Callum Baxter/Gervaise Heddle
Tel: +44 (0)20 3709 4900
Email: info@greatlandgold.com
www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated Adviser)
Mark Brady/James Keeshan/Andrew Emmott
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 (AIM: GGP) is a London listed natural
resource exploration and development company with a current focus
on gold, nickel and cobalt 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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