(Alliance News) - Greatland Gold PLC on Wednesday said it delivered "encouraging" exploration results at its 100%-owned Scallywag project in the Paterson region of Western Australia.
The London-based development and exploration company, which specializes in one-tier gold and copper deposits in Australia, said it intersected 2 metres at 2.04 grammes per tonne of gold from 70 metres at hole A35RD001, which targets the A35 prospect conductor.
This was within a mineralised gold halo of 12 metres at 0.48 grammes per tonne from 69 metres.
This was alongside other gold, silver and copper discoveries at various depths while testing a conductor at the Pearl prospect.
Greatland Gold said these results followed a ground electromagnetic survey which confirmed and refined several EM conductor targets, of which testing commenced with reverse circulation pre-collar and diamond core drilling. This was as a follow-up to its 2021 programme.
"Our recent exploration campaign at Scallywag has delivered the most encouraging results to date. At the A35 prospect, pre-collar drilling was completed with gold mineralisation intercepted plus important pathfinder geochemistry encountered, including bismuth which is associated with the Havieron and Telfer gold-copper deposits," said Managing Director Shaun Day.
"The high-grade silver and copper mineralisation intercepted at the Pearl Prospect, confirms the possibility of a new style of deposit being identified. The underlying deeper geophysical targets at both prospects are yet to be tested, but have now been prioritised for diamond drilling in 2023."
Day continued: "These results, together with the continual improvement in understanding of the buried geology, stratigraphy and structure, increase our confidence in the prospectivity of the ground, and our ability to vector towards intrusion related and other styles of mineralised systems at Scallywag."
Shares in Greatland Gold were up 0.3% to 7.28 pence each in London on Wednesday morning.
By Greg Rosenvinge, Alliance News reporter
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Greatland Gold (GGP)