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(Alliance News) - Greatland Gold PLC on Tuesday received the results for seven holes and a ground electromagnetic survey at its Scallywag licence that provided evidence for mineralising system and confirmed the prospectivity of the area.
The Scallywag licence is located in the Paterson Province in Western Australia.
The London-based precious and base metals explorer and developer said the results showed "broad geochemical anomalism" and provide further evidence for mineralising systems together with results from its 2020 work.
Further, the company identified anomalous gold and pathfinders in three holes at the Swan and Barbossa West prospects of the licence.
Greatland added that the electro-magnetic survey found eight promising electromagnetic conductor plates in four targets.
"These results, together with identifying several new conductor targets from the ground electromagnetic programme and results from the 2020 work, increase our confidence regarding the prospectivity for intrusion-related and other styles of mineralised systems at Scallywag," Managing Director Shaun Day commented.
"In addition to identifying prospective drill targets for our 2022 drill program, this rich set of data builds our understanding of the regional and prospect scale geology as we continue to develop and refine our targeting strategy ahead of our 2022 exploration programmes," he added.
Shares were down 1.2% at 12.95 pence each on Tuesday morning in London.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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