Last checked at 9 Aug 2016 10:02
9 August 2016
Greatland Gold plc
("Greatland" or "the Company")
Drill Programme for Ernest Giles Project
Greatland Gold plc (LON:GGP), the London Stock Exchange AIM listed precious and base metals exploration and development business, is pleased to announce that planning has commenced for a comprehensive drilling programme at the Ernest Giles gold project.
Highlights
· Greatland is pleased to announce that it has lodged a Programme of Work application for the Ernest Giles gold project with the Western Australian Department of Mines and Petroleum;
· The Programme of Work application includes plans for a wide-spaced RC drilling campaign that will target gold, arsenic and antimony anomalies identified by soil sampling and drilling previously conducted in the southern parts of the Ernest Giles area;
· Programme of Work includes an application for approximately 30 drill locations for an estimated 6,000 metres of drilling;
· Key objectives of the RC drilling campaign will be to test for the presence of gold mineralisation in several large target areas, and follow up gold mineralisation discovered by the Company in previous drilling.
Callum Baxter, Executive Director, commented: "We are very pleased to announce a comprehensive, wide-spaced drilling campaign for our 100% owned Ernest Giles gold project. We will test areas of gold mineralisation previously discovered by Greatland and also drill several other large targets in this highly prospective region.
Government approvals are now underway and field activities have already commenced ahead of the drilling activities. We expect to receive approvals within 28 days and to commence drilling shortly after.
The Ernest Giles project covers a significant portion of a large greenstone belt that has been subject to little historical exploration. Exploration work by Western Mining, in the late 1990s, identified a large gold-arsenic soil anomaly in the southern parts of the Ernest Giles project area. Initial drilling by Greatland nearby, conducted in 2010 and 2012, revealed large alteration systems and gold mineralisation.
We look forward to providing further information on progress of approvals and commencement of drilling as activities progress."
Ernest Giles Project, Western Australia
The Ernest Giles project is located in central Western Australia, covering an area of 270 square kilometres that includes over 30km of strike of gold and nickel prospective rocks. The area is covered by desert sands and sediments, making it virtually unexplored. The region is home to several successful exploration discoveries such as Tropicana (AngloGold ASX:AGG), which contains over 7 million ounces, and Yamarna (Gold Road Resources ASX:GOR), with over 6 million ounces.
Earlier drill programmes by the Company at Ernest Giles intersected gold mineralisation and large alteration systems in wildcat drilling of blind structural targets defined by detailed airborne geophysics. This is considered a major achievement for such a large prospective area with virtually no historical work. To build on this the Company has committed to a comprehensive RC drilling programme which will test several large areas based on work completed by the Company and earlier work by Western Mining Corporation. The Company is targeting large +5m ounce deposits and clusters of several camp-type +1m ounce gold discoveries.
The total number of drill holes and metres to be drilled will be dependent on results received and mineralisation intersected, but will initially consist of approximately 30 RC holes for 6,000m.
Additional information on the Ernest Giles project can be found on the Company web site at www.greatlandgold.com/projects
Competent Person:
Information in this announcement that relates to exploration results is based on information compiled by Mr Callum Baxter, a director of Greatland Gold plc, who is a member of the Australasian Institute of Mining and Metallurgy and Australian Institute of Geoscientists. Mr Baxter has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and under the AIM Rules - Note for Mining and Oil & Gas Companies. Mr Baxter consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears.
Enquiries:
Greatland Gold PLC
Callum Baxter/Gervaise Heddle/Alex Borrelli
Tel +44 (0)20 7747 9980
Email: info@greatlandgold.com
www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated Adviser)
Mark Brady/ Sean Wyndham-Quin /James Keeshan
Tel +44 (0)20 3368 3550
SI Capital Limited (Broker)
Nick Emerson / Andy Thacker
Tel +44 (0)14 8341 3500
Notes for Editors:
Greatland Gold plc is London listed (LON:GGP) natural resource exploration and development company with a current focus on gold and nickel exploration projects.
The Company has four main projects; two situated in Western Australia and two in Tasmania. All projects are 100% owned by Greatland.
Greatland is seeking to identify large mineral deposits in areas that have not been subject to extensive exploration previously. It is widely recognised that the next generation of large deposits will come from such under-explored areas and Greatland is applying advanced exploration techniques to investigate a number of carefully selected targets within its focused licence portfolio.
The Company is also actively investigating a range of new opportunities in precious and strategic metals and will update the market on new opportunities as and when appropriate.
Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.