TIDMGGP
RNS Number : 3111N
Greatland Gold PLC
31 May 2022
31 May 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK MARKET ABUSE REGULATIONS. 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 " )
Greatland commences second year exploration programme at Juri
JV
Drill programme to focus on high-priority targets within the
Paterson Range East
and Black Hills licence including targets A9, A27 and Tama
Greatland Gold plc (AIM:GGP), the precious and base metals
exploration and development company, is pleased to announce the
commencement of the 2022 exploration programme under the Juri Joint
Venture ("Juri JV") with partner Newcrest Mining Limited
("Newcrest") in the highly prospective Paterson province of Western
Australia .
Highlights of 2022 Exploration Activities for the Juri JV:
-- Drilling of three high-priority targets to commence in June
across the Paterson Range East and Black Hills licences.
-- Aerial and ground electromagnetic data review is
underway.
-- A programme of soil sampling along existing tracks has been
completed and submitted for geochemical analysis, to assist in
identification of undercover geology and potential subtle
mineralisation trends.
-- Gravity data re-processing, aimed at refining existing and
generating new targets.
-- Heritage clearances completed with establishment of camp
infrastructure underway ahead of drill programme
-- The planned work has been agreed between the JV partners and
is funded solely by Newcrest.
The Paterson Range East licence lies approximately 25 kilometres
north of the Company's Havieron gold-copper project and covers 224
square kilometres of Proterozoic basement rocks prospective for
Havieron style gold-copper mineralisation. The Black Hills licence
covers 25 square kilometres and lies approximately 20 kilometres
west of Havieron and 30 kilometres northeast of Newcrest's Telfer
Gold Mine.
Shaun Day, Managing Director of Greatland Gold plc, commented:
"After a promising first year programme, we are excited to commence
on-the-ground activities for the second year exploration and
drilling campaign under the Juri JV with Newcrest.
There is an enhanced, rich source of information available to
interpret from including prior year's drilling results, aerial and
ground electro magnetic data and the Juri JV teams have used this
to identify promising high priority targets to be drilled over the
next few months.
The Juri JV campaign forms part of Greatland's wider exploration
portfolio in the highly prospective Paterson region and represents
another opportunity to add value to the Company. In addition, we
look forward to moving ahead with upcoming exploration activities
at Greatland's other 100% owned licences to take advantage of our
strong position in the region."
Further information on the Juri JV
The Juri JV comprises the Paterson Range East and Black Hills
licences covering an area of approximately 249 square kilometres in
the Paterson region of north-western Australia. The Farm-In
commenced on 30 November 2020. Newcrest has the right to earn up to
a 75% interest in the licences by spending up to A$20m as part of a
two-stage Farm-In over five years. Stage 1, a minimum commitment by
Newcrest of A$3m within 24 months of commencement has been met by
Newcrest. Stage 2, now underway, contemplates an additional A$17m
over a further three years (total A$20m over five years). Newcrest
currently hold a 51% interest in the Juri JV. Greatland is the
current manager of the Juri JV.
Exploration work at the Juri JV licences is focussed on the
discovery of significantly sized gold-copper deposits similar to
Havieron, Telfer and Winu.
As agreed with the JV partners, the 2022 work programme will
include the following activities with further work to be determined
following a review of results:
-- Drill testing of three high-priority targets across the JV
licences, including Electro magnetic ("EM") targets A27 and A9,
potential conductive mineralised sulphide bodies as seen at Telfer
gold mine and previously defined magnetic and gravity target Tama,
considered geophysically consistent with Havieron style
mineralisation.
-- Soil sampling along existing tracks has been completed with
assay results awaited.
-- Geophysical gravity data normalisation with depth of cover
modelling and subsequent target generation.
-- EM data processing, modelling, interpretation and
targeting.
-- Planned new ground geophysical work around the previously
reported anomalous BH003 zone (refer previous announcement dated 23
December 2021) and other EM targets to refine targeting.
Additional information on the Juri JV can be found on the
Company's website at https://greatlandgold.com/juri-jv/
In addition to this release, a PDF version of this report with
supplementary information can be found at the Company's website:
https://greatlandgold.com/investors/regulatory-news/
Enquiries:
Greatland Gold PLC +44 (0)20 3709 4900
Shaun Day info@greatlandgold.com
www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated
Adviser)
Andrew Emmott/James Keeshan +44 (0)20 3368 3550
Berenberg (Joint Corporate Broker and Financial
Adviser)
Matthew Armitt/ Jennifer Lee/ Detlir Elezi +44 (0)20 3207 7800
Canaccord Genuity (Joint Corporate Broker
and Financial Adviser)
James Asensio/Patrick Dolaghan +44 (0)20 7523 8000
Hannam & Partners (Joint Corporate Broker
and Financial Adviser)
Andrew Chubb/Matt Hasson/Jay Ashfield +44 (0)20 7907 8500
SI Capital Limited (Joint Broker)
Nick Emerson/Alan Gunn +44 (0)14 8341 3500
Luther Pendragon (Media and Investor Relations)
Harry Chathli/Alexis Gore +44 (0)20 7618 9100
Notes for Editors:
Greatland Gold plc (AIM:GGP) is a 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.
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