Last checked at 15 Sep 2023 08:37
Greatland Gold plc (AIM: GGP)
E: info@greatlandgold.com
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NEWS RELEASE | 15 September 2023
New licence applications at Yannarie in the Gascoyne
Greatland has applied for four new exploration licences covering 126km2of ground in the Gascoyne
Greatland Gold plc (AIM:GGP) (Greatland or the Company) is pleased to announce that it has lodged applications for new exploration licences covering 126km2 of tenure at Yannarie within the Gascoyne, to the south of the Pilbara. The ground was identified by a Greatland prospectivity study covering the Pilbara and surrounding areas, and is considered prospective for Havieron and Telfer style precious and base metals deposits.
Highlights
§ Geological environment and history of the district is considered to be ideal for the formation of large scale precious and base metals deposits
§ The Yannarie applications overlay a complexly folded Proterozoic meta-sedimentary package intruded by Proterozoic granitoids on the margin of a terrane boundary
§ Open file data indicates that the area has only shallow cover and is underexplored
Greatland Managing Director, Shaun Day, commented: "Exploration is one of Greatland's three horizons for growth. The addition of these tenements to our portfolio augments a pipeline of high priority targets in Tier 1 districts and demonstrates our continued focus to identify and secure prospective ground, where we can leverage our team's experience and track record of success. Yannarie complements our upgraded portfolio of priority projects including the Paterson and Ernest Giles."
Overview of the Yannarie project
The Yannarie project is located approximately 300km south-west of the town of Maitland in the Gascoyne Province of Western Australia, within the Capricorn Orogeny, between the Yilgarn and Pilbara cratons.
The geology comprises mainly outcropping Palaeoproterozoic metasedimentary and intrusive rocks with minor alluvial and colluvial cover. This north to northwest trending folded sequence has several interpreted long-lived crustal-scale structures that may provide pathways for gold and base metal mineralisation. There are several mineral occurrences in the area including gold, copper, uranium and manganese.
The Capricorn Orogen represents the progressive assembly of the Western Australia Craton and is comparable to other Proterozoic Orogens in Western Australia. These orogens are known to host large mineral deposits including Telfer and Havieron in the Paterson and Tropicana in the Albany-Fraser. The Capricorn Orogen is considered underexplored.
Ahead of the expected grant of the licences, Greatland will engage with the Traditional Owners in respect of land access and heritage and progress. A review of previous work will be completed in parallel to define exploration targets.
Figure 1:Satellite image showing Greatland's newly acquired Yannarie tenement applications.
Figure 2: Geological Map showing Yannarie tenement applications
Contact
For further information, please contact:
Greatland Gold plc
Shaun Day, Managing Director | info@greatlandgold.com
Nominated Advisor
SPARK Advisory Partners
Andrew Emmott / James Keeshan / Neil Baldwin | +44 203 368 3550
Corporate Brokers
Berenberg | Matthew Armitt / Jennifer Lee | +44 203 368 3550
Canaccord Genuity | James Asensio / George Grainger | +44 207 523 8000
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Media Relations
UK - Gracechurch Group | Harry Chathli / Alexis Gore / Henry Gamble | +44 204 582 3500
Australia - Fivemark Partners | Michael Vaughan | +61 422 602 720
About Greatland
Greatland is a mining development and exploration company focused primarily on precious and base metals.
The Company's flagship asset is the world-class Havieron gold-copper project in the Paterson Province of Western Australia, discovered by Greatland and presently under development in joint venture with ASX gold major, Newcrest Mining Limited (which is the subject of an agreed takeover by Newmont Corporation that is ongoing).
Havieron is located approximately 45km east of Newcrest's existing Telfer gold mine. The box cut and decline to the Havieron orebody commenced in February 2021. Significant progress continues with the exploration decline with total development at over 2,600 metres in early August 2023. Subject to a positive feasibility study and Decision to Mine, Havieron may leverage the existing Telfer infrastructure and processing plant.
Greatland has a proven track record of discovery and exploration success and is pursuing the next generation of tier-one mineral deposits by applying advanced exploration techniques in under-explored regions. Greatland has a number of exploration projects across Western Australia and in parallel to the development of Havieron is focused on becoming a multi-commodity miner of significant scale.
Competent Persons Statement
Information in this announcement pertaining to Reporting of Exploration Results has been reviewed and approved by Mr Damien Stephens, a Member of the AusIMM, who has more than 30 years relevant industry experience. Mr Stephens is a full-time employee of the Company and has a financial interest in Greatland. Mr Stephens has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking 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 and Gas Companies, which outline standards of disclosure for mineral projects. Mr Stephens consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears. Mr Stephens confirms that the Company is not aware of any new information or data that materially affects the information included in the historical market announcements, and that the form and context in which the information has been presented has not been materially modified.