Greatland Resources Regulatory News (GGP)

17 Jul 2007 07:00

Greatland Gold PLC17 July 2007 GREATLAND GOLD PLC Exploration Update Dated: 17 July 2007 Greatland Gold plc (the "Company") the mineral exploration and developmentcompany focused on gold projects in Tasmania and Western Australia is pleased toannounce an update of recent activities along with further analytical results. At Firetower, gold results up to 5.33g/t have been received from additionalsurface rock chip sampling within the resource area. These results representfurther near-surface mineralisation within the resource area untested bydrilling. At Warrentinna, gold mineralisation has been identified over two trends. One is5km long at the Forester goldfield, and the second 2km at the Warrentinnagoldfield. Recent surface rock chip sampling has returned encouraging resultsincluding 464g/t gold (14.9 ounces per tonne), 130g/t gold (4.2 ounces pertonne) and 61g/t gold (1.9 ounces per tonne). Firetower Following a successful surface rock chip sampling program within the resourcearea at Firetower in April this year, an additional program was completed duringMay and June in an effort to locate further indications of surfacemineralisation. The latest program was again successful in locatingmineralisation with grades including 1.0m at 5.33g/t gold and 2.5m at 3.57g/tgold. A table of significant results is presented in Table 1. Table 1 - Firetower Significant Rock Chip Results Sample No Type Interval (m) Gold (g/t) 7432 channel rockchip 1.0 5.33 7439 channel rockchip 2.5 3.57 7428 channel rockchip 2.0 2.76 7441 channel rockchip 3.0 1.14 7431 channel rockchip 1.4 1.01 7429 channel rockchip 2.0 0.62 7448 channel rockchip 3.7 0.59 7447 channel rockchip 3.5 0.50 7438 channel rockchip 3.0 0.35 7440 channel rockchip 2.5 0.27 m - metres, g/t - grams per tonne These results are added zones of mineralisation at surface, not tested orincompletely tested by drilling. The identification of these surface zones mayalter the interpretation of the configuration of the deposit, and it followsthat further drilling is required before updating the Firetower resourceestimate. Warrentinna The Warrentinna project is located in the north east of Tasmania in Australiaand covers the three historic goldfields of Warrentinna, Forester andWaterhouse. Further sampling and mapping was carried out at the southerngoldfields of Warrentinna and Forester during May and June. Warrentinna Goldfield At the Warrentinna goldfield, the mineralised trend has been mapped over astrike length of 2km, and its northern extensions have not been explored in thepast. Sampling completed during May and June returned encouraging resultsincluding 464g/t gold (14.9 ounces per tonne), 130g/t gold (4.2 ounces pertonne) and 61g/t gold (1.9 ounces per tonne). Further results are presented inTable 2. Table 2 - Warrentinna Goldfield Significant Rock Chip Results Sample No Type Gold (g/t) Silver (g/t) Arsenic (ppm) 7453 rockchip 463.92 149.3 7812 7219 rockchip 129.57 40.0 17172 7226 rockchip 61.06 37.0 20678 7215 rockchip 11.94 4.0 2896 7220 rockchip 6.38 2.0 1839 7452 rockchip 4.05 3.6 4781 7454 rockchip 2.46 1.3 1453 7455 rockchip 0.92 1.9 1473 7212 rockchip 0.58 - 1266 7223 rockchip 0.58 25.0 38 7456 rockchip 0.49 - 4138 7221 rockchip 0.45 - 85 m - metres, g/t - grams per tonne, ppm - parts per million Rock samples were taken from a variety of material along the mineralised trend.This included in-situ bedrock, existing shallow workings and ore from dumpsadjacent to historic workings. Silver also reported at elevated levels. Forester Goldfield Further north at the Forester goldfield, mineralisation has been located over astrike length of more than 5km. Results up to 7.26g/t gold were reported alongwith elevated silver. Further details are presented in Table 3. Table 3 - Forester Goldfield Significant Rock Chip Results Sample No Type Gold (g/t) Silver (g/t) Arsenic (ppm) 7460 rockchip 7.26 6.3 3464 7457 rockchip 4.22 5.3 4229 7228 rockchip 3.33 2.0 1133 7474 rockchip 0.30 46.8 6890 7458 rockchip 0.28 - 833 7227 rockchip 0.27 - 331 7461 rockchip 0.27 - 342 7476 rockchip 0.20 13.6 373 7472 rockchip 0.12 32.1 1743 7473 rockchip 0.09 16.6 5076 7475 rockchip 0.02 32.7 775 m - metres, g/t - grams per tonne, ppm - parts per million Lackman Rock The Lackman Rock project is located in southern Western Australia in a regionwith nearby producing gold mines and nickel mines. No exploration work has beencarried out on the project to date. The Western Australian Government has approved the application and indicated itsintention to grant the tenement. Consequently, tenement grant is expected duringthe current quarter and an auger sampling program will follow. Operations In light of the strong results from Warrentinna (+100g/t gold) the company willconcentrate operations at the Forester and Warrentinna goldfields during thelatter parts of 2007. Activities proposed include mapping, auger soil sampling,rock chip sampling and RC drilling. At Firetower, several additional zones of surface mineralisation require drilltesting in the resource area. This will be undertaken prior to re-estimation ofthe resource. Expenditure commitments and budgeted spending for this projecthave been met for the current calendar year and, for the immediate time; thecompany has conservatively decided to defer drilling until early 2008. In themeantime the company will entertain Joint Venture arrangements and/or seek tofinalise an off-take agreement for pre-defined ore at Firetower. At Lackman Rock in Western Australia, a program of auger soil sampling isplanned. This is expected to be completed during the final quarter of 2007. 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. An Aqua Regia digestwith Optical Emission Spectrometry (OES) is used for silver and arsenic. Fullquality control is achieved using a suite of standards, duplicates, repeats andblanks. 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