(Alliance News) - Greatland Gold PLC on Wednesday confirmed it has starting preparations for a drilling campaign at the Firetower gold project in Tasmania.
Greatland announced the programme in mid-April, focusing on the Firetower and Firetower East prospects.
It will drill 15 holes on five north-south lines, with depths ranging from 75 metres to 250 metres, totalling 2,000 metres.
Chief Executive Gervaise Heddle said: "We are very pleased to have commenced field activities ahead of a drill programme that could begin to unlock the true potential of this project. The current programme is designed to test sections of the large chargeability anomaly, approximately 1,000 metres long, that was identified by the results of last year's 3DIP survey."
"Importantly, the results of that earlier survey illustrated the existing sub-surface gold mineralisation identified by previous drilling at Firetower is spatially associated with the 3DIP anomaly."
Shares were 1.1% lower on Wednesday at a price of 1.57 pence each.
Greatland Gold (GGP)