Greatland Resources Regulatory News (GGP)

29 Nov 2007 07:00

Greatland Gold PLC29 November 2007 GREATLAND GOLD PLC Exploration Update Dated: 29 November 2007 Greatland Gold plc (the "Company") the mineral exploration and developmentcompany focused on gold projects in Tasmania and Western Australia is pleased toannounce a further update of recent activities and analytical results. At the Warrentinna project, gold mineralisation continues to be outlined at theForester and Warrentinna goldfields. Recent surface rock chip sampling returnedup to 14.4g/t gold and 11.9g/t gold, and soil sampling to 36.4ppb gold. Theseresults extend and better define previously identified lines of mineralisation,and also confirm mineralisation in areas not previously recognised. Warrentinna Work has continued at the Warrentinna project and focussed on the goldfields ofForester and Warrentinna. More specifically, further surface sampling efforts atthe Linton and Derby areas have yielded results over 10g/t gold from bothgoldfields. Forester Goldfield The Forester goldfield hosts the Malabar and Linton workings where anorth-northeast trending zone of gold mineralisation has been outlined over astrike length of some 6km. The latest rock chip sample results from veinmineralisation north of the Linton workings were positive, up to 14.36 g/t Au.Soil sampling north of Linton and, additionally, near Malabar returned a maximum36.4 ppb gold and 26.5ppb gold. Results confirm the presence of mineralisationof reasonable tenor over a large area. Warrentinna Goldfield The Warrentinna goldfield is defined by numerous historic workings.Mineralisation has been outlined over a strike length of approximately 6kmthrough clusters of workings including the areas of Golden King, Golden Mara,Derby, Golden Dyke and Renown. Recent rock chip sampling from north of Derbyreported gold including 11.90g/t, 1.74g/t and 1.26 g/t. These results were froman area of no known workings and indicate a new line of lode. Further work at the Forester and Warrentinna areas will include the selection ofdrill targets and drill program planning, with a view to commencement of ReverseCirculation (RC) drilling early in 2008. Firetower Strike extensions to geology hosting mineralisation at the Firetower project arepresent within additional tenure applied for by the Company earlier this year.Recent appraisal of the additional tenure has resulted in the delineation ofseveral mineralised areas. These will be subject to more detailed field work inthe coming quarter. Interpretation of data from the Firetower resource area has confirmed a numberof target areas for further drilling. Collar locations for additional drillholes are at hand and further diamond drilling will commence as soon aspossible. Lackman Rock The Lackman Rock project is located in southern Western Australia and isprospective for gold and nickel sulphides. Field programs, including geologicalmapping and a comprehensive auger sampling program, are scheduled for thecurrent field season. Corporate Greatland Gold owns 100% of all projects in its portfolio. These projects arelocated in Australia with low political risk and well established miningculture. All mandatory government expenditure commitments for 2007 have been metfor all projects. The company currently holds ample cash to fund its active exploration andcorporate activities into 2008. As such the Company is well positioned tocapitalise on the positive results achieved to date in a climate of increasingcommodity prices, particularly with respect to gold. 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 2kgand all soils are 250g (min) -80# sieved samples. All samples are prepared atGenalysis Laboratory Services' Adelaide facility using a single stagepulverisation, and assayed at Genalysis Laboratory Services' Perth laboratory.An Aqua Regia digest with atomic absorption spectrometry analysis technique(AAS) is used for gold. Full quality control is achieved using a suite ofstandards, duplicates, repeats and blanks. 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