TIDMGGP

RNS Number : 1172R

Greatland Gold PLC

03 November 2021

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3 November 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 " )

Havieron lookalike targets identified in new Canning and Paterson South tenements

Two key targets with coincident bullseye magnetic and gravity features have been identified

Greatland will now prioritise these targets for follow-up exploration activity

Greatland Gold plc (AIM:GGP), a leading mining development and exploration company with a focus on precious and base metals, is pleased to announce it has identified two priority targets that are analogous to the magnetic and gravity anomaly associated with the Havieron gold-copper deposit.

These targets are situated within 100% owned areas being the Canning application and the adjacent recently acquired Paterson South tenement as announced to the market on 16 September 2021.

Highlights:

-- The Paterson South Target One comprises a strong gravity and near coincident magnetic anomaly

-- The Canning application Target Two comprises a strong coincident gravity and magnetic anomaly

-- Both targets are analogous to the magnetic and gravity anomaly associated with the Havieron gold-copper deposit, and follow-up exploration is warranted

-- Next steps are to confirm the historical gravity data and remodel the gravity and magnetic data, with the aim of targeting drill holes for one or both targets

Shaun Day, Chief Executive Officer of Greatland Gold plc, commented: "These targets, which have never been drilled, are exciting opportunities situated within our expanded holdings in the Paterson district. Both show strong magnetic and gravity anomalies, with characteristics analogous to the magnetic and gravity signature developed over Havieron.

As with Havieron, the new targets sit under cover and remain untested, which allows Greatland to apply our proven record of discovery and exploration success to identify prospective Telfer, Winu and Havieron style mineralisation. We consider these bullseye targets significant and exciting additions to our growth portfolio as we seek to discover further tier-one gold-copper deposits in the Paterson province."

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) 
  Matthew Armitt/ Varun Talwar/Alamgir Ahmed        +44 (0)20 3207 
  /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 Gravity and Magnetic Targets:

Exploration licence applications E45/5755 (Paterson South A) and E45/5862 (Canning) each contain a strong bullseye magnetic anomaly, named Target One and Target Two respectively. These targets are potentially analogous to the magnetic anomaly associated with the Havieron gold- copper deposit.

Target One comprises a 0.1-0.15 milligal gravity anomaly elongate in a NNE direction, with a partly coincident 1000nT magnetic anomaly located over the southern end of the gravity anomaly. Modelling of the data suggests the source of the gravity anomaly is located between 400-700m deep, with a strike of 800m, width 500m and thickness of around 300m, with a density around 0.05g/cc above background. By contrast the depth to top of the magnetic anomaly is around 535m, only slightly deeper than the gravity source.

Target Two comprises a 0.5 milligal gravity anomaly covering an area of approximately 3km x 1.5km, coincident with a 1300nT aeromagnetic anomaly. Modelling of the data suggests source of the gravity anomaly is located 800-1200m deep, with a strike of 1500m, width 750m and thickness of around 400m, with a density around 0.05g/cc above background. The spatially coincident magnetic anomaly is around 1250m deep, i.e., situated below the corresponding gravity anomaly.

Both targets warrant further assessment, with Greatland looking to confirm the historical gravity data and remodel both the gravity and magnetic data, looking to target drill holes into either at least one target, or potentially both.

A regional map showing the Canning and Paterson South licence areas with detailed plans showing the magnetic and gravity targets can be found at: www.greatlandgold.com/paterson /

Competent Person:

Information in this announcement pertaining to Reporting of Exploration Results have been reviewed and approved by Mr John McIntyre, a Member of the Australian Institute of Geoscientists (MAIG), who has more than 30 years relevant industry experience. Mr McIntyre is an employee of the Company and has no financial interest in Greatland Gold plc or its related entities. Mr McIntyre has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking 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, which outline standards of disclosure for mineral projects. Mr McIntyre consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears. Mr McIntyre confirms that the Company is not aware of any new information or data that materially affects the information included in the relevant market announcements, and that the form and context in which the information has been presented has not been materially modified.

Additional information on the project can be found on the Company's website at www.greatlandgold.com/paterson/

In addition to this release, a PDF version of this report with supplementary 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 mining development and exploration company with a focus on precious and base metals . 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 maiden Pre-Feasibility Study released on the South-East crescent on 12 October 2021. Construction of the box cut and decline to develop the Havieron deposit 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.

APPIX I

JORC Table 1

Section 1 Sampling Techniques and Data

 
 Criteria       JORC Code explanation                                         Commentary 
 Sampling 
  techniques     *    Nature and quality of sampling (eg cut channels,         *    The exploration results described in this report 
                      random chips, or specific specialised industry                comprise historical ground gravity data collected by 
                      standard measurement tools appropriate to the                 Haines Surveys in 2002. 
                      minerals under investigation) 
 
                                                                               *    The two survey areas (Target One and Target Two 
                 *    Include reference to measures taken to ensure sample          respectively) comprised lines on 600m or 300m 
                      representivity and the appropriate calibration of any         spacings, with station spacings at 200m or 100m 
                      measurement tools or systems used.                            intervals, and four infill lines were completed for 
                                                                                    317 stations. Gravity measurements were made with a 
                                                                                    Scintrex CG3 Autograv instrument, and locations and 
                 *    Aspects of the determination of mineralisation that           elevations were recorded using Trimble 4000 series 
                      are Material to the Public Report.                            Geodetic receivers using Real Time Kinematic (RTK) 
                                                                                    techniques giving horizontal and vertical precisions 
                                                                                    of at least 5 cm.. 
                 *    In cases where 'industry standard' work has been done 
                      this would be relatively simple (eg 'reverse 
                      circulation drilling was used to obtain 1 m samples      *    The data has been reprocessed by Greatland's 
                      from which 3 kg was pulverised to produce a 30 g              geophysical consultants, using a 1.7 g/cc density 
                      charge for fire assay'). In other cases more                  corrections (to account for sand dunes) and 
                      explanation may be required, such as where there is           converting the datum to GDA94 
                      coarse gold that has inherent sampling problems. 
                      Unusual commodities or mineralisation types (eg 
                      submarine nodules) may warrant disclosure of detailed 
                      information. 
 Drilling 
  techniques      *    Drill type (eg core, reverse circulation, open-hole      *    Not applicable- no drilling is reported 
                       hammer, rotary air blast, auger, Bangka, sonic, etc) 
                       and details (eg core diameter, triple or standard 
                       tube, depth of diamond tails, face-sampling bit or 
                       other type, whether core is oriented and if so, by 
                       what method, etc). 
 Drill sample 
  recovery       *    Method of recording and assessing core and chip           *    Not applicable- no drilling is reported 
                      sample recoveries and results assessed. 
 
 
                 *    Measures taken to maximise sample recovery and ensure 
                      representative nature of the samples. 
 
 
                 *    Whether a relationship exists between sample recovery 
                      and grade and whether sample bias may have occurred 
                      due to preferential loss/gain of fine/coarse 
                      material. 
 Logging 
                  *    Whether core and chip samples have been geologically     *    Not applicable- no drilling is reported 
                       and geotechnically logged to a level of detail to 
                       support appropriate Mineral Resource estimation, 
                       mining studies and metallurgical studies. 
 
 
                  *    Whether logging is qualitative or quantitative in 
                       nature. Core (or costean, channel, etc) photography. 
 
 
                  *    The total length and percentage of the relevant 
                       intersections logged. 
 Sub-sampling 
  techniques      *    If core, whether cut or sawn and whether quarter,        *    Not applicable- no drilling is reported 
  and sample           half or all core taken. 
  preparation 
 
                  *    If non-core, whether riffled, tube sampled, rotary 
                       split, etc and whether sampled wet or dry. 
 
 
                  *    For all sample types, the nature, quality and 
                       appropriateness of the sample preparation technique. 
 
 
                  *    Quality control procedures adopted for all 
                       sub-sampling stages to maximise representivity of 
                       samples. 
 
 
                  *    Measures taken to ensure that the sampling is 
                       representative of the in situ material collected, 
                       including for instance results for field 
                       duplicate/second-half sampling. 
 
 
                  *    Whether sample sizes are appropriate to the grain 
                       size of the material being sampled. 
 Quality 
  of assay       *    The nature, quality and appropriateness of the            *    Not applicable- no drilling is reported 
  data and            assaying and laboratory procedures used and whether 
  laboratory          the technique is considered partial or total. 
  tests 
 
                 *    For geophysical tools, spectrometers, handheld XRF 
                      instruments, etc, the parameters used in determining 
                      the analysis including instrument make and model, 
                      reading times, calibrations factors applied and their 
                      derivation, etc. 
 
 
                 *    Nature of quality control procedures adopted (eg 
                      standards, blanks, duplicates, external laboratory 
                      checks) and whether acceptable levels of accuracy (ie 
                      lack of bias) and precision have been established. 
 Verification 
 of sampling     *    The verification of significant intersections by          *    Not applicable- no drilling is reported 
 and assaying         either independent or alternative company personnel. 
 
 
                 *    The use of twinned holes. 
 
 
                 *    Documentation of primary data, data entry procedures, 
                      data verification, data storage (physical and 
                      electronic) protocols. 
 
 
                 *    Discuss any adjustment to assay data. 
 Location 
  of data        *    Accuracy and quality of surveys used to locate drill      *    Not applicable- no drilling is reported 
  points              holes (collar and down-hole surveys), trenches, mine 
                      workings and other locations used in Mineral Resource 
                      estimation. 
 
 
                 *    Specification of the grid system used. 
 
 
                 *    Quality and adequacy of topographic control. 
 Data spacing 
 and             *    Data spacing for reporting of Exploration Results.        *    Not applicable- no drilling is reported 
 distribution 
 
                 *    Whether the data spacing and distribution is 
                      sufficient to establish the degree of geological and 
                      grade continuity appropriate for the Mineral Resource 
                      and Ore Reserve estimation procedure(s) and 
                      classifications applied. 
 
 
                 *    Whether sample compositing has been applied. 
 Orientation 
 of data         *    Whether the orientation of sampling achieves unbiased     *    Sampling is on north- south oriented lines. The 
 in relation          sampling of possible structures and the extent to              relationship to geological structure is unknown at 
 to                   which this is known, considering the deposit type.             this stage. 
 geological 
 structure 
                 *    If the relationship between the drilling orientation 
                      and the orientation of key mineralised structures is 
                      considered to have introduced a sampling bias, this 
                      should be assessed and reported if material. 
 Sample 
  security        *    The measures taken to ensure sample security.            *    Not applicable- no drilling is reported 
 Audits 
  or reviews      *    The results of any audits or reviews of sampling         *    No audits or reviews have been completed. 
                       techniques and data. 
=============  ============================================================  =========================================================== 
 

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

 
 Criteria         JORC Code explanation                                            Commentary 
 Mineral 
  tenement          *    Type, reference name/number, location and ownership        *    EL45/5862 is an application dated 17/2/2021 and owned 
  and land               including agreements or material issues with third              100% by Greatland.Pty Ltd. 
  tenure                 parties such as joint ventures, partnerships, 
  status                 overriding royalties, native title interests, 
                         historical sites, wilderness or national park and          *    EL45/5755 is an application dated 17/2/2021 and is 
                         environmental settings.                                         beneficially owned 100% by Greatland.Pty Ltd, subject 
                                                                                         to a purchase agreement with Province Resources 
                                                                                         Limited (announced 16/9/2021). 
                    *    The security of the tenure held at the time of 
                         reporting along with any known impediments to 
                         obtaining a licence to operate in the area.                *    Both applications are located in lands in which the 
                                                                                         Marty Native Title Holders have a Native Title 
                                                                                         Determination. Greatland anticipates the tenements 
                                                                                         will be granted subject to a Land Access Agreement 
                                                                                         with the Western Desert Lands Aboriginal Corporation 
                                                                                         on behalf of the Martu Native Title Holders. 
 Exploration 
  done by           *    Acknowledgment and appraisal of exploration by other        *    The historical gravity data was collected on behalf 
  other parties          parties.                                                         of Remington Resources Pty Ltd, the holder of 
                                                                                          EL45/2323, and reported in WAMEX open file report 
                                                                                          A067137 for the period to 14/5/2003. 
 
 
                                                                                     *    No other exploration work has been identified. 
 Geology 
                    *    Deposit type, geological setting and style of               *    Exploration is for intrusion related Au-Cu deposits 
                         mineralisation.                                                  similar to Telfer, Havieron and Winu, all located in 
                                                                                          the Neo-Proterozoic Paterson Province, Western 
                                                                                          Australia 
 
 
                                                                                     *    The basement is interpreted to be units of Paterson 
                                                                                          Province age, overlain by sediments of the Canning 
                                                                                          Basin. Depth to Basement is interpreted to be 400- 
                                                                                          800m, based on historical modelling of the gravity 
                                                                                          data. 
 Drill hole 
  Information          *    A summary of all information material to the             *    Not applicable- no drilling is reported 
                            understanding of the exploration results including a 
                            tabulation of the following information for all 
                            Material drill holes: 
 
 
                      o easting and northing 
                      of the drill hole collar 
                      o elevation or RL (Reduced 
                      Level - elevation above 
                      sea level in metres) 
                      of the drill hole collar 
                      o dip and azimuth of 
                      the hole 
                      o down hole length 
                      and interception depth 
                      o hole length. 
                       *    If the exclusion of this information is justified on 
                            the basis that the information is not Material and 
                            this exclusion does not detract from the 
                            understanding of the report, the Competent Person 
                            should clearly explain why this is the case. 
 Data 
 aggregation        *    In reporting Exploration Results, weighting averaging       *    Not applicable- no drilling is reported 
 methods                 techniques, maximum and/or minimum grade truncations 
                         (eg cutting of high grades) and cut-off grades are 
                         usually Material and should be stated. 
 
 
                    *    Where aggregate intercepts incorporate short lengths 
                         of high grade results and longer lengths of low grade 
                         results, the procedure used for such aggregation 
                         should be stated and some typical examples of such 
                         aggregations should be shown in detail. 
 
 
                    *    The assumptions used for any reporting of metal 
                         equivalent values should be clearly stated. 
 Relationship 
 between            *    These relationships are particularly important in the       *    Not applicable- no drilling or mineralisation is 
 mineralisation          reporting of Exploration Results.                                reported 
 widths 
 and intercept 
 lengths            *    If the geometry of the mineralisation with respect to 
                         the drill hole angle is known, its nature should be 
                         reported. 
 
 
                    *    If it is not known and only the down hole lengths are 
                         reported, there should be a clear statement to this 
                         effect (eg 'down hole length, true width not known'). 
 Diagrams 
                    *    Appropriate maps and sections (with scales) and             *    Maps are provided in Figures 1 to 3. 
                         tabulations of intercepts should be included for any 
                         significant discovery being reported These should 
                         include, but not be limited to a plan view of drill 
                         hole collar locations and appropriate sectional 
                         views. 
 Balanced 
  reporting         *    Where comprehensive reporting of all Exploration            *    The reporting is considered balanced. 
                         Results is not practicable, representative reporting 
                         of both low and high grades and/or widths should be 
                         practiced to avoid misleading reporting of 
                         Exploration Results. 
 Other 
 substantive        *    Other exploration data, if meaningful and material,         *    There is no other substantive exploration data. 
 exploration             should be reported including (but not limited to): 
 data                    geological observations; geophysical survey results; 
                         geochemical survey results; bulk samples - size and 
                         method of treatment; metallurgical test results; bulk 
                         density, groundwater, geotechnical and rock 
                         characteristics; potential deleterious or 
                         contaminating substances. 
 Further 
  work              *    The nature and scale of planned further work (eg            *    Further work will include modelling of the gravity 
                         tests for lateral extensions or depth extensions or              and magnetic data and then drill testing of any 
                         large-scale step-out drilling).                                  permissive sources identified in the modelling. 
 
 
                    *    Diagrams clearly highlighting the areas of possible 
                         extensions, including the main geological 
                         interpretations and future drilling areas, provided 
                         this information is not commercially sensitive. 
===============  ===============================================================  ============================================================ 
 

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