RNS Out19 Mar 2019 08:28
The Board of Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, is pleased to provide an update on its strategy and exploration priorities for 2019.
Summary
-- Leverage success in the Paterson region
o Build on momentum gained in Paterson region following the Company's recent announcement of a US$65m farm-in agreement with Newcrest to advance the Havieron project
o Leverage exploration insights gained at Havieron to prioritise and accelerate exploration at key targets across Greatland's Paterson licences
o Paterson region represents one of the most exciting regions globally for the potential discovery of tier-one gold-copper deposits as demonstrated by recent exploration results at Havieron (Greatland/Newcrest) and Winu (Rio Tinto)
o Greatland has identified multiple targets within its licences with a similar geophysical signature to Havieron and is working on prioritising those targets for 2019
o Finalising plans for exploration programmes at Black Hills (30km east of Telfer, high grade gold at surface over 800m of strike) and Scallywag (40km east of Telfer, several magnetic anomalies and elevated copper, silver and gold MMI response over 6km of strike)
-- Focus on assets with tier-one, multi-cycle potential
o Capitalise on general weakness in the junior resources sector by identifying and acquiring new projects in safe jurisdictions with tier-one potential at attractive valuations
o Systematically advance existing exploration targets outside of the Paterson region which have multi-million ounce potential, and which present the opportunity to deliver significant shareholder value in the medium term
o Seek to divest those projects which do not meet the criteria described above or which don't offer significant medium-term upside to shareholders
-- Invest for growth
o Over the past 12 months, the Company has been building key corporate infrastructure for future exploration success and will continue to do so with selective new additions to its team
o Greatland recently appointed a new Exploration Manager, Michael Sawyer, who spent seven years at Oz Minerals Limited, most recently as Principal Geologist, Australia, Exploration and Growth where he was extensively involved with exploration and resource definition at Carrapatenna, one of Australia's largest