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(Sharecast News) - Precious and base metals exploration and development company Greatland Gold has lodged an application for a new exploration licence in the Paterson region of Western Australia, it announced on Thursday.
The AIM-traded firm said the Canning exploration licence application, 'E45/5862', comprised an area of 114 square kilometres and is located about 175 kilometres south east of Havieron.
It said the new application contained the bulk of a large magnetic 'bullseye' anomaly, similar to the one located over the Havieron deposit.
No previous drill testing of the anomaly had been reported in historical records.
Ahead of the expected grant of the licence, Greatland said it would compile and review historical exploration data, including regional aeromagnetic data and detailed gravity data, and remodel the magnetic and gravity data.
"We are pleased to apply for the new Canning licence which will expand our footprint in the Paterson region and build on our exploration momentum in this region," said chief executive officer Shaun Day.
"The licence application area contains the bulk of a large magnetic 'bullseye' anomaly similar to the one located over the Havieron deposit.
"This fits in with our strategy of seeking to discover tier one gold-copper deposits."
At 1455 GMT, shares in Greatland Gold were down 3.51% at 22p.
16 May 2023 20:01
IN BRIEF: Greatland Gold confirms ASX listing remains on track
Greatland Gold PLC - London-based development and exploration company, specialising in one-tier gold and copper deposits in Australia - Notes article published in The Australian Financial Review's Street Talk column today titled "Greatland ramps up listing preparations, BofA nabs role". Confirms that consistent with announcement on May 2, the company is continuing to advance preparations for a cross-listing on the ASX and that this is targeted to occur during the September 2023 quarter. Says ASX listing preparations remain on track. Advises no decision has been made as to whether to conduct a capital raise, nor has it formally mandated any investment banks in connection with the listing.
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