TIDMGGP
RNS Number : 3543K
Greatland Gold PLC
01 September 2021
--
1 September 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL)
ACT 2018, AS AMED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO
BE IN THE PUBLIC DOMAIN.
Greatland Gold plc
( " Greatland " or "the Company " )
First Results from Drilling Campaign at Juri Joint Venture
Preliminary results from initial four drill holes with first
gold identified at Goliath
Greatland Gold plc (AIM:GGP), a leading development and
exploration company with a focus on tier-one gold-copper deposits,
is pleased to announce the first set of preliminary drill results
from the initial 2021 drill programme at its Juri Joint Venture
("Juri JV") with partner Newcrest Mining Limited ("Newcrest") in
the Paterson province of Western Australia. Results have been
received for the first four holes sampled from the nine drill holes
completed.
Highlights
-- First phase of Juri JV drilling programme completed on the
Paterson Range East and Black Hills tenements, forming the Juri JV
with Newcrest
-- Gold assays from first four assayed holes of Juri JV drill
programme
-- At the Saddle Reefs target within the Black Hills licence an
intersection of 3.5m @ 1.88g/t Au from 226.5m
-- First gold identified at the Goliath Prospect including a
significant assay of 1.0m @ 1.49g/t Au from 651m
-- Assays for the remaining holes from Los Diablos, Parlay and
Saddle Reef and sections of the Outamind hole expected for October
2021
-- Ground Electro-Magnetic ("Ground EM") survey due to commence
in September to further refine and model various Juri JV
targets
The first phase of drilling comprised nine holes for 4,958 m
testing five targets including five holes at the Goliath, Outamind
and Los Diablos targets on the Paterson Range East licence and four
holes at the Parlay and Saddle Reefs targets on the Black Hills
licence.
Shaun Day, Chief Executive Officer of Greatland Gold plc,
commented: "We are delighted to receive the first set of results
from the maiden drilling campaign under our Juri JV with Newcrest.
Intercepting gold mineralisation from our initial assays is an
excellent result. Greatland will now recalibrate our Juri JV
targets based on this initial information as well as the assays
pending from the five remaining drill holes and combined with the
new proposed Ground EM survey.
"These initial results build confidence regarding the
prospectivity of the assets under the Juri JV. With Newcrest
funding the exploration programme, our Juri JV programme presents
an opportunity to deploy our proven expertise and potentially
deliver further exploration upside for our shareholders."
In addition to this release, a PDF version of this announcement
with supplementary information can be found at
the Company's website: www.greatlandgold.com/media/jorc/
Enquiries:
Greatland Gold PLC +44 (0)20 3709
Shaun Day 4900
info@greatlandgold.com
www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated
Adviser) +44 (0)20 3368
Andrew Emmott/James Keeshan 3550
Berenberg (Joint Corporate Broker and Financial
Adviser) +44 (0)20 3207
Matthew Armitt/Jennifer Wyllie/Detlir Elezi 7800
Canaccord Genuity (Joint Corporate Broker
and Financial Adviser) +44 (0)20 7523
James Asensio/Patrick Dolaghan 8000
Hannam & Partners (Joint Corporate Broker
and Financial Adviser) +44 (0)20 7907
Andrew Chubb/Matt Hasson/Jay Ashfield 8500
SI Capital Limited (Joint Broker) +44 (0)14 8341
Nick Emerson/Alan Gunn 3500
Luther Pendragon (Media and Investor Relations) +44 (0)20 7618
Harry Chathli/Alexis Gore/Joe Quinlan 9100
Further Information on the Juri JV Drill Programme
Greatland Gold's first phase of drilling (reverse circulation
and diamond core drilling) has been completed on the Paterson Range
East and Black Hills tenements, forming the Juri JV with
Newcrest.
This first phase of drilling comprised nine holes for 4,958 m
testing five targets including five holes at the Goliath, Outamind
and Los Diablos targets on the Paterson Range East licence and four
holes at the Parlay and Saddle Reefs targets on the Black Hills
licence.
Gold and some multi-element assays have been received for the
Goliath and Outamind holes, and gold and multi-element assays
returned for a strongly altered mineralisation zone logged in the
first Saddle reefs hole BHD001. Assays for the remaining holes from
Los Diablos, Parlay and Saddle Reef are expected for October
2021.
At the Saddle Reefs target within the Black Hills licence a
strongly silica-carbonate-albite-sericite altered and quartz-pyrite
veined zone in Yeneena Formation metasediments was logged from 226m
- 239m in drill hole BHD001. Assays reported an intersection of
3.5m @ 1.88g/t Au from 226.5m (incl. 1.4m @ 3.49g/t Au from 227.6m)
from the quartz - pyrite vein stockwork zone within the larger
alteration halo. A strong silver- arsenic- cobalt- antimony-
bismuth pathfinder metal association was noted throughout the zone,
with minor copper - molybdenum anomalism also identified.
Structural analysis suggests the quartz-pyrite veins form an array
of flat veins within a bedding parallel envelope, representing reef
style mineralisation. The results are encouraging as mineralisation
style and metal affinities are similar to reef style veins in the
nearby Telfer deposit.
A further two holes were drilled at Saddle Reefs and Saddle
South to follow up historical anomalous RC assays (Black Hills -
Positive Final Drill Results & New Geophysical Targets,
Greatland RNS dated 14 November 2019), testing the concept of
multiple mineralised zones between different beds and the anomalous
gravity and IP geophysical responses. All assays are awaited.
At the Goliath Prospect significant widths of calc-silicate
sediments, probably of the Puntapunta formation, were intersected
in GLD001A, in contact with the granitoid and other more mafic
intrusive rocks. A significant assay of 1.0m @ 1.49g/t Au was
recorded from 651m within the interfingered intrusive - sediment
contact zone and associated with narrow zones of probable albite
alteration. Detailed understanding of the geological context and
significance of the drilling results will be possible when the full
suite of low-level multi-element geochemistry assay results have
been received and interpreted.
Gold assays have been returned from the Goliath and Outamind
hole, with some multi-element results from OMD001W. The remaining
gold and multi-element assays for these and both Los Diablos holes
are expected in the coming month.
Further Work
A ground Electro-Magnetic ("Ground EM") survey has been planned
to further refine and model various Juri JV targets as defined in
the 2020 heliborne EM ("AEM") survey. This programme is due to
commence in September. The programme is designed to confirm the AEM
targets reported previously ("Work Programme agreed for the Juri
Joint Venture with Newcrest Mining", Greatland RNS dated 23
February 2021) and better define drill targets over these
anomalies.
Strong conductors have been defined at the A9, A11, A14 (Tara)
and A25 (Tama) targets on the Paterson Range East licence, and AEM
targets A26, A27, A31 and A30 (Parlay Nth) were generated on the
Black Hills licence.
Additional information can be found at the Company's website: www.greatlandgold.com/media/jorc/
Notes for Editors:
Greatland Gold plc (AIM:GGP) is a leading development and
exploration company with a focus on tier-one gold-copper deposits.
The Company's flagship asset is the world-class Havieron
gold-copper deposit in the Paterson region of Western Australia,
discovered by Greatland and presently under development in Joint
Venture with Newcrest Mining Ltd.
Havieron is located approximately 45km east of Newcrest's Telfer
gold mine and, subject to positive decision to mine, will leverage
the existing infrastructure and processing plant to significantly
reduce the project's capital expenditure and carbon impact for a
low cost pathway to development. An extensive growth drilling
programme is presently underway at Havieron with a Pre-Feasibility
Study due for release in late calendar 2021. Construction of the
box cut and decline to develop the Havieron orebody commenced in
February 2021.
Greatland has a proven track record of discovery and exploration
success. It is pursuing the next generation of tier-one mineral
deposits by applying advanced exploration techniques in
under-explored regions. The Company is focused on safe, low-risk
jurisdictions and is strategically positioned in the highly
prospective Paterson region. Greatland has a total six projects
across Australia with a focus on becoming a multi-commodity mining
company of significant scale.
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