RNS17 Sep 2018 08:05
Greatland's first drilling campaign at Havieron, carried out in April-May
2018, yielded excellent results, which included 121m at 2.93g/t gold and 0.23%
copper from 497m, including 11.5m at 21.23g/t gold and 0.67% copper from
568.5m (HAD001), and 21m at 3.79g/t gold 0.44% copper from 418m
(HAD003). Significantly, the first campaign established the presence of a
zone of high grade mineralisation (peak grades 137.69g/t gold and 4.11%
copper) and demonstrated the potential for Havieron to represent a very large
mineralised system.
The new drilling campaign at Havieron, which commenced today, consists of up
to ten core holes to a depth of 600 metres each for a total of approximately
6,000 metres. The drilling programme is designed to further determine the
extent and direction of the high-grade zone of mineralisation at Havieron that
was detected in Greatland's maiden drilling campaign conducted earlier this
year.
Gervaise Heddle, Chief Executive Officer, commented: "We are excited to be on
the ground and pushing forward with our second major drilling campaign at
Havieron following the excellent results from the first campaign which
established a zone of high grade gold mineralisation peaking at almost 4.5
ounces gold per tonne.
"The results from the first drill programme, combined with independent
geophysical modelling, indicate that Havieron has the potential to represent a
very large mineralised system."
Issue of Shares and Warrants to DDH1 Drilling Pty Ltd
As announced on 3 September 2018, Greatland re-appointed DDH1 Drilling Pty Ltd
("DDH1"), one of Australia's most highly regarded mineral exploration drilling
providers, to conduct this second drill programme at Havieron. As an
expression of their support and confidence in the Havieron project, DDH1
agreed to accept part payment of its drill programme fees in the form of
shares and warrants in Greatland.
Greatland has issued DDH1, as part payment for drilling services and in
consideration for an amount of £142,045.45, or approximately $250,000
Australian Dollars, 11,363,636 ordinary shares of 0.1 pence each in Greatland
Gold plc (the "DDH1 Shares").