Greatland Resources Regulatory News (GGP)

14 May 2007 15:18

Greatland Gold PLC14 May 2007 GREATLAND GOLD PLC Exploration Update Dated: 14 May 2007 Greatland Gold plc ("Greatland" the "Company") the mineral exploration anddevelopment company focused on gold projects in Tasmania and Western Australiais pleased to announce further analytical results and an update on recentactivities. At Firetower, good gold results up to 6.86g/t have been received from surfacerock chip sampling within the resource area. These results reflect the locationof ore shoots at surface, adding to high-grade near-surface mineralisationwithin the resource area. At Warrentinna, gold mineralisation has been identified over two trends. One is5km long and the second 2km long, with local grades over 15g/t gold reported. Also, following a review of results to date and a positive conclusion, theCompany has secured additional acreage. Two new tenements have been applied for,enlarging both the Firetower and Warrentinna projects. Firetower A program of surface rock chip sampling within the resource area at Firetowerwas completed during April in an effort to locate further indications of surfacemineralisation that had not been adequately tested by previous work. This wassuccessful in locating ore shoots at surface with good grades including 2m at6.86g/t gold and 2m at 3.63g/t gold. A table of significant results is presentedin Table 1. Table 1 - Firetower Significant Rock Chip Results Sample No Type Interval (m) Gold (g/t) 7280 channel rock chip 2 6.86 7286 channel rock chip 2 3.63 7281 channel rock chip 2 1.57 7274 channel rock chip 2 1.21 7267 channel rock chip 2 0.97 7271 channel rock chip 2 0.86 m - metres, g/t - grams per tonne These results are from new high-grade zones of mineralisation at surface, notyet tested by drilling. They will be incorporated into the depositinterpretation for the resource area. Firetower West Firetower West is a separate area located 2.5km north-west of the Firetowerresource. Mineralisation has been defined over a 2km x 1km area. Followingencouraging results from two first pass drillholes, and confirmation that alarge mineralised system is present, a program of detailed surface mapping androck chip sampling has commenced. Initial rock chip sampling results have returned elevated results to 0.29g/tgold and 0.15% copper. Work is ongoing. Increase in Acreage for the Firetower Project Follow-up of regional targets in the east of the project area has commenced.Reconnaissance has located surface indications of mineralisation in the far eastof the project area and sampling is being carried out. Identification of mineralisation led to a project wide re-evaluation of theprospective rock units in the region and it was recognised that further acreageshould be secured to continue exploration along strike. The Company has madeapplication for additional ground totalling 99 sq kms, increasing the projectsize from 53 sq kms to 152 sq kms; effectively trebling the footprint of theFiretower project and providing a further 20km of prospective strike. Warrentinna The Warrentinna project is located in the north-east of Tasmania in Australiaand covers the three historic goldfields of Warrentinna, Forester andWaterhouse. Sampling and mapping has been carried out by the Company over thesouthern goldfields of Warrentinna and Forester with encouraging results. Warrentinna Goldfield At the Warrentinna goldfield, the mineralised trend has been mapped over astrike length of 2km by the Company and its northern extensions have not beenexplored in the past. In the central parts of the goldfield ore to 29g/t wasmined by early prospects from shallow pits and small production of 3,200oz wasreported. This area has been targeted for further surface sampling and resultsare awaited. Forester Goldfield Further north at the Forester goldfield, mineralisation has been located over astrike length of more than 5km. Numerous old workings are located along thetrend, some of which have reported limited production at grades to 32g/t gold. Gold producing areas include that of Linton where mining was carried out untilrecently. Importantly, the Company acquired this area late last year. Here,sporadic small scale mining supplied ore to the nearby Beaconsfield mill forprocessing and limited drillholes returned grades in excess of 15g/t gold. Scopefor further ounces is apparent and assessment of the mineralised trend isongoing. Further work is being undertaken. Increase in Acreage for the Warrentinna Project Field inspection of areas along strike from known mineralisation has beensuccessful in identifying additional mineralisation outside of the existinglease area, particularly in the north and north-west of the project area. Forexample, at the Southern Cross prospect, near to the Waterhouse goldfield,outcropping mineralisation has been located over several hundred metres ofstrike in flat, open country. The Company has secured these areas by makingapplication for ground totalling 54 sq kms, increasing the project size from 114sq kms to 168 sq kms and providing access to further prospective strike atWarrentinna. Lackman Rock The Lackman Rock project is located in southern Western Australia in a regionwith nearby producing gold mines and nickel mines. The tenement covers rocks notpreviously subject to exploration despite Lion Ore Mining International holdingground immediately along strike, and close to their operating Emily Ann andMaggie Hays nickel mines. As such Greatland has the opportunity to be 'firstmover' in this area. Planning of a first pass geochemical sampling program over 30km of strike hasbeen completed and will be implemented in the coming months. Competent Persons The information in this announcement that relates to Exploration Results isbased on information compiled by Mr Paul Askins and Mr Callum Baxter, directorsof Greatland Gold, who are both members of the Australasian Institute of Miningand Metallurgy. Paul Askins and Callum Baxter have sufficient experience whichis relevant to the style of mineralisation and type of deposit underconsideration and to the activity that they are undertaking to qualify asCompetent Persons as defined in the 2004 Edition of the 'Australasian Code forReporting of Exploration Results, Mineral Resources and Ore Reserves'. PaulAskins and Callum Baxter consent to the inclusion in the announcement of thematters based on their information in the form and context in which it appears. All rock chip results are obtained from grab or continuous chip sampling to 2kg.All samples are prepared at Genalysis Laboratory Services' Adelaide facilityusing a single stage pulverisation, and assayed at Genalysis LaboratoryServices' Perth laboratory. An Aqua Regia digest with atomic absorptionspectrometry analysis technique (AAS) is used for gold. Full quality control isachieved using a suite of standards, duplicates, repeats and blanks. Enquiries: Callum Baxter +44 (0)20 7099 5845 Greatland Gold plc Managing Director John Simpson +44 (0)20 7512 0191 ARM Corporate Finance Ltd Nominated Adviser Updates on the Company's activities are regularly posted on its websitewww.greatlandgold.com This information is provided by RNS The company news service from the London Stock Exchange