Greatland Gold PLC Greatland awarded drilling grant for Ernest Giles (5342D)
20 October 2022 - 5:00PM
UK Regulatory
TIDMGGP
RNS Number : 5342D
Greatland Gold PLC
20 October 2022
20 October 2022
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Greatland Gold plc
( " Greatland " or "the Company " )
Greatland awarded a drilling grant for Ernest Giles exploration
project
Greatland receives a grant of up to A$220,000 (GBP120,000)
under the Western Australian Government's Exploration Incentive
Scheme
Grant to be used to co-fund exploration at Greatland's 100%
owned Ernest Giles project
Greatland Gold plc (AIM:GGP), a mining development and
exploration company with a focus on precious and base metals, is
pleased to announce it has been awarded a grant from the Western
Australian Government to co-fund exploration drilling and
mobilisation costs at its 100% owned Ernest Giles project.
The grant awarded is the result of a successful application
under the Exploration Incentive Scheme (EIS). Greatland is eligible
to receive a grant up to A$220,000 (GBP120,000) to co-fund drilling
and mobilisation costs, for completion before 30 November 2023.
Shaun Day, Managing Director of Greatland Gold plc, commented :
"This drilling grant award for the Ernest Giles project will
co-fund commencement of a new exploration programme. Ernest Giles
is located in the Yilgarn craton, one of the most highly
mineralised areas in the world and home to numerous gold deposits .
With work advancing to finalise access, this grant then enables
testing of priority targets at Ernest Giles, an underexplored and
prospective part of the Greatland portfolio. "
About Ernest Giles project
The Ernest Giles project covers a sequence of magnetic
greenstone rocks (Figure 1) typical of the Archean goldfields of
Western Australia which host large gold camps such as Kalgoorlie,
Leonora, Laverton, Mt Magnet and Jundee. The project is located
approximately 250km north-east of the town of Laverton. The gold
prospective greenstone sequence at Ernest Giles does not outcrop.
Thickness of the cover sequence ranges from around 120m to more
than 300m across the broader project area. Consequently, with no
outcrop, the project has not been subject to extensive historic
exploration activity.
Drill testing on the Calanchini licence, focusing on the Meadows
prospect (Figure 2), as outlined in the EIS will be the first
priority for Greatland. Previous drilling has identified favorable
Archean hosts rocks for Yilgarn style shear hosted gold. Ongoing
work will include airborne geophysics to better understand the
geology of the entire Ernest Giles belt prior to systematic drill
testing of the resultant priority targets.
Additional information on the project can be found on the
Company's website at
https://greatlandgold.com/projects/ernest-giles/
Figure 1 : Location plan showing the Calanchini licence over
a total magnetic intensity image of open file regional magnetic
data
Figure 2 : Meadows Gold prospect and priority targets on open
file regional magnetics.
About the Exploration Incentive Scheme
The co-funded Government and Industry Drilling Program is being
funded by the Western Australian State Government, to provide a
stimulus to geoscience exploration and contribute to the economic
development of regional areas of Western Australia. Geoscience
exploration includes mineral, oil and gas, and geothermal
exploration with drilling to be undertaken in underexplored areas.
The program is administered by the Western Australian Department of
Mines, Industry Regulation and Safety.
Enquiries:
Greatland Gold PLC info@greatlandgold.com
Shaun Day 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 Lee/ Jack Botros 7800
Canaccord Genuity (Joint Corporate Broker
and Financial Adviser) +44 (0)20 7523
James Asensio/Patrick Dolaghan 8000
SI Capital Limited (Joint Broker) +44 (0)14 8341
Nick Emerson/ Sam Lomanto 3500
Gracechurch Group (Media and Investor Relations) +44 (0)20 4582
Harry Chathli/Alexis Gore/Henry Gamble 3500
Notes for Editors:
Greatland Gold plc (AIM:GGP) is a mining development and
exploration company with a focus on precious and base metals.
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 of six projects
across Australia with a focus on becoming a multi-commodity mining
company of significant scale.
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