Greatland Resources Regulatory News (GGP)

24 Apr 2007 07:00

Greatland Gold PLC24 April 2007 GREATLAND GOLD PLC Exploration Update Dated: 24 April 2007 Greatland Gold plc (the "Company") the mineral exploration and developmentcompany focused on gold projects in Tasmania and Western Australia is pleased toannounce analytical results from first pass diamond core drilling at theFiretower West prospect. Results confirm gold and base metal mineralisation atFiretower West up to 2.72g/t gold, 1.44% copper and 1.06% zinc. A positiveresult in the first two holes is highly encouraging because it confirms that alarge mineralised system is present at Firetower West. Firetower West Firetower West is a completely separate area located 2.5km north-west of the ofthe Firetower gold resource; geology is similar, and structural controls onmineralisation appear equivalent. Surface sampling at Firetower West wascompleted between July and December 2006. Results of surface sampling outlinedmineralisation over a large 2km x 1km area with soil samples peaking at over100ppb gold. Strong base metal anomalism is also apparent with rock chip valuesto 3.3% copper. Two diamond drillholes were completed at Firetower West as the first sub-surfacetest of the large mineralised system. No diamond drilling has previously beencarried out. The drill targets were selected on the basis of surface samplingresults and favourable host rocks, which are analogous to those in the Firetowerresource area. Drillhole collar details are presented in Table 1. Table 1: Drill Hole DetailsHole ID AMG East AMG North Azimuth Dip Depth (m) (m) (degrees) (degrees) (m) FTD032 443 010 5 406 880 198 -40 136.3 FTD033 443 180 5 406 800 168 -40 133.2 AMG - Aust. Map Grid Co-ordinate, Azimuth - drillhole direction, Dip - drillhole angle from horizontal Both drillholes were successful in intersecting gold and base metalmineralisation. Better intercepts include 3m at 1.20g/t gold including 1m at2.72g/t gold, with other intercepts above 0.5g/t gold. In addition, base metalswere strong with 1m at 1.44% copper and 1m at 1.06% zinc. Highly anomaloustungsten intercepts were also reported. Significant intercepts are presented inTable 2. Table 2: Firetower West Significant Results Hole No From To Width Gold Copper Lead Zinc Tungsten (m) (m) (m) (g/t) (%) (%) (%) (%) FTD032 33 35 2 0.15 37 38 1 0.11 0.11 53 54 1 0.20 59 60 1 0.55 0.12 0.15 60 61 1 0.33 0.16 87 88 1 0.83 0.23 92 93 1 0.30 0.12 95 96 1 0.22 0.10 96 99 3 1.20 incl 97 98 1 2.72 103 104 1 0.11 0.32 105 106 1 0.18 0.10 0.11 106 107 1 0.10 0.18 108 109 1 0.17 110 111 1 0.19 0.12 111 112 1 0.35 0.25 112 113 1 0.45 0.51 0.26 114 116 2 0.48 0.12 116 117 1 0.13 117 118 1 0.33 0.17 119 120 1 0.14 0.11 120 121 1 0.19 0.24 0.10 125 126 1 0.11 126 127 1 0.10 128 129 1 0.13 130 131 1 0.12 FTD033 4.2 7.2 3 0.18 0.11 12 16.2 4.2 0.29 16.2 17.0 0.8 0.12 17.0 18.0 1 0.16 19.0 20.0 1 0.12 25.0 27.0 2 0.24 29.0 30.0 1 0.11 35.0 37.0 2 0.24 39.0 63.0 24.0 0.35 incl 51.0 52.0 1 0.87 and 57.0 58.0 1 0.59 0.18 0.14 and 58.0 59.0 1 1.44 0.10 0.22 and 59.0 60.0 1 0.88 67.0 69.0 2 0.18 0.67 incl 67.0 68.0 1 0.22 1.06 73.0 74.0 1 0.13 75.0 76.0 1 0.78 89.0 90.0 1 0.12 96.0 97.0 1 0.10 98.0 99.0 1 0.24 100.0 102.0 2 0.31 102.0 103.0 1 0.33 0.35 103.0 104.0 1 0.16 105.0 106.0 1 0.11 107.0 109.0 2 0.18 0.18 110.0 112.0 2 0.15 0.14 113.0 116.0 3 0.27 117.0 120.0 3 0.20 0.36 125.0 126.0 1 0.21 128.0 129.0 1 0.45 m - metres, g/t - grams per tonne, % - per cent A positive result in the first two holes is highly encouraging because itconfirms that a large mineralised system is present at Firetower West. Byanalogy with the separate Firetower resource 2.5km away, this new Firetower Westsystem will contain high grade gold/copper/zinc/tungsten shoots. Consequently,further efforts will be undertaken to outline mineralisation at surface.Detailed mapping and surface sampling has commenced and results will be reportedduring the quarter. 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 diamond drilling results are obtained from half NQ core. All samples areprepared at Genalysis Laboratory Services' Adelaide facility using a singlestage pulverisation, and assayed at Genalysis Laboratory Services' Perthlaboratory. A 50g lead collection fire assay digest with atomic absorptionspectrometry analysis technique (AAS) is used for gold, and a Four Acid(hydrofluoric, nitric, perchloric and hydrochloric) digest with an OpticalEmission Spectrometry analysis (OES) for other elements. Full quality control isachieved using a suite of standards, duplicates, repeats and blanks. The spatial location of samples is derived using handheld GPS to an accuracy ofapproximately 5m, and Eastman single shot downhole or north seeking gyrosurveys. Stated co-ordinates are based on the Australian Map Grid 1966, Zone 55(AGD66 Zone 55). Enquiries: Callum Baxter +44 (0)20 7099 5845 Greatland Gold plc Managing DirectorJohn 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