2nd RNS3 Sep 2018 11:06
3 September 2018
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR).
Greatland Gold plc
("Greatland" or "the Company")
Greatland Gold's Second Drilling Programme at Havieron Project on Schedule to Commence in mid-September
DDH1 Drilling Pty Ltd, one of Australia's most highly regarded mineral
exploration drilling providers, has been re-appointed to conduct the upcoming
drill programme and has agreed to accept part payment of fees in the form of
shares and warrants in Greatland
Greatland Gold plc (AIM: GGP), the precious and base metals exploration and
development company, is pleased to provide an update on the Company's upcoming
second drill programme at its 100%-owned Havieron project in the Paterson
region of Western Australia.
Greatland's first drilling campaign at Havieron, carried out in April-May
2018, yielded excellent results, which included 121m at 2.93g/t Au and 0.23%
gold from 497m, and established the presence of a zone of high grade
mineralisation (peak grades 137.69g/t gold and 4.11% copper).
As stated on 4 July 2018, Greatland expects to commence a second, expanded
drilling campaign in mid-September at the Havieron project, consisting of ten
core holes to 600 metres each for a total of 6,000 metres, to further
determine the extent and the direction of the high grade zone of
mineralisation at Havieron.
Appointment of DDH1 Drilling Pty Ltd:
· DDH1 Drilling Pty Ltd ("DDH1"), one of Australia's most highly
regarded mineral exploration drilling providers, has been re-appointed to
conduct the upcoming drill programme after their successful execution of
Greatland's first drill programme at Havieron earlier this year;
· As an expression of their support and confidence in the Havieron
project, DDH1 has agreed to accept part payment of its drill programme fees in
the form of shares and warrants in Greatland, on the same terms as the
Company's recent placing and subscription announced on 27 July 2018;
· Following the commencement of drilling at Havieron, and in
consideration for an amount of £142,045.45, or approximately $250,000
Australian Dollars, Greatland will issue to DDH1 11,363,636 ordinary shares of
0.1 pence each in Greatland Gold plc, and will issue 11,363,636 warrants with
a 2.0p exercise price and an exercise period of 12 months;
· DDH1 has confirmed that drilling is on schedule to commence at
Havieron in mid-September.
Once issued and allotted, an application will be made for the 11,363,636 new
ordinary shares to be admitted to trading on AIM. Further announcements will
be made as appropriate.