Rns18 Feb 2021 12:37
RNS Number : 6121P
Greatland Gold PLC
18 February 2021
18 February 2021
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR)
Greatland Gold plc
("Greatland" or "the Company")
New Licence Application to Expand Footprint in the Paterson Region
Application for new exploration licence 'Canning' covering Havieron-style magnetic target in the Paterson Region
Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, announces that it has lodged an application for a new exploration licence in the Paterson Region.
The Canning exploration licence application (E45/5862) comprises an area of 114km2 and is located approximately 175km south east of Havieron. The new licence application contains the bulk of a large magnetic "bullseye" anomaly, similar to the magnetic "bullseye" located over the Havieron deposit. No previous drill testing of this anomaly has been reported in historical records.
Ahead of the expected grant of the licence, Greatland will compile and review historical exploration data, including regional aeromagnetic data and detailed gravity data, and remodel the magnetic and gravity data.
Shaun Day, Chief Executive Officer of Greatland Gold plc, commented: "We are pleased to apply for the new Canning licence which will expand our footprint in the Paterson region and build on our exploration momentum in this region. The licence application area contains the bulk of a large magnetic 'bullseye' anomaly similar to the one located over the Havieron deposit. This fits in with our strategy of seeking to discover tier 1 gold-copper deposits. We look forward to reporting progress on the application in due course."
In addition to this release, a PDF version of this report with supplementary information can be found at the Company's website: www.greatlandgold.com/media/jorc/
Further Information on 'Canning' Exploration Licence Application
The new 'Canning' licence application, E45/5862, covers an area of 114km2 and is located approximately 175km south east of Havieron, within the south eastern extensions of the Paterson Province. The licence covers a buried sequence of rocks correlated with either units of the Proterozoic Tabletop Terrane, or units of the Proterozoic Yeneena Basin (host to Telfer and the Havieron gold deposits), adjacent to a major crustal scale fault. The new licence application contains the bulk of a large magnetic 'bullseye' anomaly, similar to the magnetic 'bullseye' located over the Havieron deposit. Greatland's exploration work in the Paterson is focussed on the discovery of intrusion related gold-copper deposits such as Havieron, Telfer and Winu.
Greatland will compile and review historical exploration data, including detailed gravity data, and remodel the historic magnetic and gravity data, looking to precisely model the anomaly, and the depth of cover to the source
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