rns21 Jun 2018 11:22
Greatland Gold plc (AIM: GGP), the precious and base metals exploration and development company, is pleased to announce that multiple pieces of gold have been recovered from surface in the first few days of field work at its 100% owned Black Hills licence in the Paterson region of Western Australia.
Further to the announcement of 18 June 2018, field work commenced earlier this week at the Black Hills licence. The field team commenced work at the Saddle Reefs area collecting rock chip samples and locating historical access. Their observations reveal the area is obviously prospective with numerous indications of mineralisation in bedrock. Gossanous samples have been collected from outcrop and gold nuggets have been found within thin sand cover at the prospect. Primary gold mineralisation has also been located in bedrock where gold pieces in rock chip samples are present. These finds are significant considering the short time field crews have been active at the site. Only 150 metres of strike at Saddle Reefs has been covered so far and the remaining several hundred metres will be traversed over the next week. Rock chip samples are being collected and will be analysed with standard chemical assay techniques, and a further update will be provided in due course.
A photo of recently collected samples, including gold pieces in bedrock and gold nuggets, from the Black Hills licence can be found under the 'Black Hills' section of the Paterson project page on the Company's web site at www.greatlandgold.com/paterson/.
The Black Hills gold project covers 25 square kilometres and is located in the Paterson Region of Western Australia and lies adjacent to the Company's Havieron licence. Previous work by companies including Newcrest Limited has outlined several zones of gold mineralisation in rocks equivalent to those of the large Telfer gold deposit (27m oz) which lies 30km to the west. Management believes that the gold mineralisation identified to date on the Black Hills licence may extend into the north western portion of Greatland's Havieron licence.
Gervaise Heddle, Chief Executive Officer, commented: "We are very pleased by the rapid discovery and collection of gold from surface within days of the field work commencing. These early results from Greatland's first and ongoing exploration campaign at Black Hills far exceed our initial expectations.
"We are currently reviewing a range of options to accelerate exploration at Black Hills and we look forward to providing a further update in due course."
Overview of Paterson Project and Black Hills licence
The Company's Paterson project comprises the Havieron, Paterson Range East, and Black Hills licences, located in the Paterson region of northern Western Australia. The three licences collectively cover more than 385 square kilometres prospective for iron-oxide-copper-gold ("IOCG") deposits and Telfer style gold deposits.
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