(Alliance News) - Greatland Gold PLC said Tuesday that further drilling at its 100% owned Firetower project in Tasmania, Australia confirmed the presence of additional broad widths of shallow gold mineralisation.
The precious and base metals exploration company said it has completed a systematic, grid-based drilling programme at Firetower, comprising 14 diamond holes with depths from 50 metres to 160 metres, for a total of approximately 1,530 metres.
The programme was designed to test the main zone of gold mineralisation and results to date have confirmed broad widths of gold mineralisation, Greatland said.
In addition to this programme, two further holes for a total of approximately 670 metres were drilled to test new targets identified by a 3D induced polarisation survey at Firetower East, approximately 500m east of Firetower.
Zinc and silver mineralisation has been intersected in the first drill hole at Firetower East, Greatland Gold said.
Gervaise Heddle, chief executive officer, said: "We are pleased to report a second set of positive results from our recent drilling campaign at Firetower. They show a further improvement in the continuity between drill sections and highlight the potential for a robust, near-surface gold system."
Back in September, the company had said that initial drill results from Firetower had confirmed "broad widths of gold mineralisation".
Initial results included 54.5 metres at 1.4 grammes of gold per tonne of ore from surface, including 5 metres at 5.4 grammes per tonne from 45 metres.
Greatland Gold shares were down 3.0% in London at 1.76 pence each on Tuesday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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Greatland Gold (GGP)