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(Sharecast News) - Precious and base metals exploration and development company Greatland Gold announced the initial 2021 work programme for the Juri joint venture on Tuesday, including the drilling of several targets within the Paterson Range East and Black Hills licences.
The AIM-traded firm said multiple additional targets within Juri had been identified following the analysis of results of a heliborne electromagnetic survey conducted last year, and further geological interpretation of regional aeromagnetics.
Exploration work at Juri was focussed on the discovery of intrusion-related gold-copper deposits similar to Havieron, Telfer and Winu.
It said the first round of drilling of high priority targets across the Paterson Range East and Black Hills licences, including Los Diablos, Goliath, Outamind and Parlay, was expected to start by early April.
Ground electromagnetics surveys would be conducted over several new targets identified following interpretation of the heliborne data, to better locate and prioritise targets.
Camps and infrastructure were being established, with field activities scheduled to begin in the coming weeks.
The analysis of results from a heliborne geophysical survey conducted last year had identified multiple new conductors within Juri, the board noted, including A11, which it described as a moderate amplitude anomaly located along or adjacent to the major province scale Anketell-Samphire fault.
It also highlighted A25, or the 'Tama' prospect, explaining it as a strong, apparently flat lying conductor, interpreted to represent a supergene horizon developed in or over an intermediate to mafic pipe intruding granite.
"Drilling will commence in the coming weeks at our Paterson Range East and Black Hills licences, testing the high-priority targets Parlay, Goliath, Outamind and Los Diablos," said chief executive officer Shaun Day.
"The joint venture will also look to progress several additional compelling targets that have emerged following analysis of geophysical data."
Day said the company entered the Juri joint venture in a bid to accelerate its exploration activity and maximise value of the Paterson Range East and Black Hills licences, with the initial 2021 work programme an "important step" towards achieving that goal.
"The Juri joint venture campaign forms part of our multi-pronged exploration strategy for 2021 in the highly prospective Paterson region.
"As Juri drilling gets underway, this will complement the ongoing work at Havieron with 65,000 metres of growth drilling planned in the next six months together with our exploration activities at our 100% licences across the region."
At 1142 GMT, shares in Greatland Gold were up 5.06% at 22.85p.
24 Aug 2022 17:50
IN BRIEF: Greatland Gold to raise USD30 million through placing
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