(Alliance News) - Greatland Gold PLC on Wednesday said anomalous gold and copper, and key pathfinder metal geochemistry, returned in assays from all four prospects at its Scallywag tenement.
In the results for its 2023 drilling and geophysical exploration programme, the Western Australia-focused exploration and development company said the A35 prospect returned the best gold assay of 1 metre at 0.38 grammes per tonnes of gold from 238 metres at A35RD003.
This was alongside a peak copper intercept of 2 metres at 0.17% copper from 310 metres at A35RD002.
Greatland Gold also said preliminary modelling of the ground magneto-telluric data indicates a conductor at depth within a syncline fold structure along trend from Havieron, its flagship gold-copper project adjacent to Scallywag.
Ongoing optimisation of the MT modelling is aimed at confirming the anomaly as a "high priority" target for 2024, Greatland Gold said, as well as improving the understanding of stratigraphy and structure to identify Telfer style targets in the broader Scallywag tenement.
"We are happy to report the effective completion of another phase of geological testing at our 100% owned Scallywag project, where drilling tested previously defined EM and geological targets, once again building on our understanding of the structure, stratigraphy and geochemistry of our landholding," said Managing Director Shaun Day.
"The ground magneto-telluric survey provides an enhanced understanding of the geology around the Scallywag syncline target area and identifies an untested conductor target coincident with a structural trap which potentially delineates the key structure to be tested."
Shares in Greatland Gold were down 2.6% to 9.50 pence each in London on Wednesday morning.
By Greg Rosenvinge, Alliance News senior reporter
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Greatland Gold (GGP)