(Alliance News) - Greatland Gold PLC on Tuesday said it was "pleased" with the final diamond drilling results at the Firetower project following two holes drilled around the end of last year.
In 2019, the drill programme at Firetower - located in Tasmania, Australia - was comprised of 14 holes drilled to between 50 metres and 160 metres, giving a total depth of around 1,530 metres. The programme was designed to test the main zone of gold mineralisation and results to date have confirmed that, Greatland said.
In addition to this programme, two further holes for a total of 670 metres were drilled to test new targets, identified by a 3D-induced polarisation survey at Firetower East. The additional holes were added to the programme as Greatland said initial drill results from Firetower had confirmed "broad widths of gold mineralisation".
On Tuesday, the precious & base metals exploration company said the results from the final hole at the main Firetower prospect showed a metre at 0.54 grams per tonne of gold from 119 metres and defined mineralisation along a strike length of more than 200 metres, with the mineralisation remaining open along strike to the east and west.
Greatland also said the results showed a southerly dipping mineralised zone up to 50 metres wide, persisting to depths of 125 metres and which remains open at depth.
"These results finalise a positive set of overall drilling results from our 2019 Firetower campaign. By confirming continuity of mineralisation over an extensive strike length of more than 200 metres, we have successfully moved the project up the value curve," said Greatland Chief Executive Gervaise Heddle.
"They act as further evidence of the strength of our portfolio and provide us with well defined parameters for further exploration at the Firetower and Firetower East prospects," he added.
Greatland shares closed 1.1% lower at 2.30 pence each on Tuesday in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Greatland Gold (GGP)