rns3 Sep 2018 10:24
Highlights of Drilling Results from Wishbone, Carnegie and Empress
Wishbone
· Two maiden drill holes were completed to test structural targets;
· Mineralisation in the form of disseminated sulphides was seen
throughout basement rocks (ERC036);
· Anomalous gold, silver and copper detected (ERC036: up to 38ppb gold,
0.44ppm silver and 0.15% copper).
Carnegie
· One drill hole was completed to test a nickel sulphide target
resembling both the geophysical signature and size of Independence Group's
Nova nickel deposit;
· Basement was successfully intersected at Carnegie (ERC034) for the
first time;
· Encouragingly, a consistent nickel anomalous response was detected
in basement (up to 0.02%) from 380m to 408m (end of hole).
Empress
· Two RC drill holes completed to test a surface MMI anomaly;
· One hole successfully reached basement (ERC032);
· Anomalous gold (45ppb) was detected from surface to 4m depth, but
the source of this gold response remains unexplained.
The drill holes completed at the Empress, Carnegie and Wishbone areas
represent very early stage exploration work over an area of approximately 500
square kilometres. Drill results received to date will be further reviewed in
a regional context along with airborne and surface data sets.
Greatland has also completed drilling at Meadows to assess the large, untested
5km x 1.5km anomaly defined by Newmont's Deep Sensing Geochemistry ("DSG")
work and supported by Greatland's MMI sampling. The Company expects to receive
these results in approximately four weeks.
Gervaise Heddle, Chief Executive Officer, commented: "We are very encouraged
by the initial drill results from Wishbone and Carnegie, which reaffirm our
exploration model for both areas and our view that, while very early stage,
both targets are highly prospective.
"The Wishbone area includes a number of high priority structural targets and
it is noteworthy that we have intersected disseminated sulphides throughout
the basement rocks in just our first drilling campaign in the area.
"We are also encouraged by the consistent nickel response in basement at
Carnegie, a large nickel sulphide target with a geophysical signature similar
to Independence Group's Nova nickel deposit. Importantly, this is the first
and only hole that has intersected the target rocks in basement.
"In regards to Empress, we intend to undertake further work to understand the
source of the highly elevated gold response at surface in both RC drilling and
MMI surface sampling."
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