(Alliance News) - Greatland Gold PLC said Thursday drilling results have confirmed the presence of high-grade gold mineralisation at the Black Hills Saddle Reefs prospect in Western Australia.
The precious and base metals exploration company has also identified three new geophysical targets following the completion of ground gravity surveys over the Black hills licence and adjacent Havieron licence, it added.
Greatland said the results are considered "very positive" with several intervals greater that five grams per tonne of ore of gold, indicating the potential for a "fertile" gold system at Black Hills.
Gervaise Heddle, chief executive , said: "These exciting drill results at Black Hills confirm the presence of a near-surface gold system at the Saddle Reefs prospect which includes high-grade gold mineralisation."
"The results from our drilling and geophysical work at Black Hills further highlight the exceptional prospectivity of the Paterson region, which continues to draw in major resource players to the underexplored province," Heddle added.
Greatland Gold shares were down 0.4% in London at 1.58 pence each on Thursday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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Greatland Gold (GGP)