(Alliance News) - Greatland Gold PLC on Tuesday said it has intersected high-grade gold mineralisation from its maiden diamond drilling programme at Derby North, a prospect within the company's Warrentinna project in Tasmania, Australia.
The precious and base metals exploration company said the diamond drilling has also increased depth extent of known mineralisation.
Greatland previously conducted a limited reverse circulation drilling at Derby North, which outlined a gold mineralised system approximately 150 metres long and 100 metres wide, open to the north, east and at depth.
The company drilled three holes at Derby North for a total of 285 metres under its diamond drilling programme.
"Results and data collected from the drilling programme are expected to assist with potential divestment of the project, in line with the company's strategy to seek to divest non-core projects," Greatland Gold said.
Shares in Greatland Gold were up 9.9% at 3.74 pence each in London on Tuesday.
By Tapan Panchal; tapanpanchal@alliancenews.com
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Greatland Gold (GGP)