Last checked at 3 Sep 2018 10:02
3 September 2018
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).
Greatland Gold plc
("Greatland" or "the Company")
Greatland Gold's Second Drilling Programme at Havieron Project on Schedule to Commence in mid-September
DDH1 Drilling Pty Ltd, one of Australia's most highly regarded mineral exploration drilling providers, has been re-appointed to conduct the upcoming drill programme and has agreed to accept part payment of fees in the form of shares and warrants in Greatland
Greatland Gold plc (AIM: GGP), the precious and base metals exploration and development company, is pleased to provide an update on the Company's upcoming second drill programme at its 100%-owned Havieron project in the Paterson region of Western Australia.
Greatland's first drilling campaign at Havieron, carried out in April-May 2018, yielded excellent results, which included 121m at 2.93g/t Au and 0.23% gold from 497m, and established the presence of a zone of high grade mineralisation (peak grades 137.69g/t gold and 4.11% copper).
As stated on 4 July 2018, Greatland expects to commence a second, expanded drilling campaign in mid-September at the Havieron project, consisting of ten core holes to 600 metres each for a total of 6,000 metres, to further determine the extent and the direction of the high grade zone of mineralisation at Havieron.
Appointment of DDH1 Drilling Pty Ltd:
· DDH1 Drilling Pty Ltd ("DDH1"), one of Australia's most highly regarded mineral exploration drilling providers, has been re-appointed to conduct the upcoming drill programme after their successful execution of Greatland's first drill programme at Havieron earlier this year;
· As an expression of their support and confidence in the Havieron project, DDH1 has agreed to accept part payment of its drill programme fees in the form of shares and warrants in Greatland, on the same terms as the Company's recent placing and subscription announced on 27 July 2018;
· Following the commencement of drilling at Havieron, and in consideration for an amount of £142,045.45, or approximately $250,000 Australian Dollars, Greatland will issue to DDH1 11,363,636 ordinary shares of 0.1 pence each in Greatland Gold plc, and will issue 11,363,636 warrants with a 2.0p exercise price and an exercise period of 12 months;
· DDH1 has confirmed that drilling is on schedule to commence at Havieron in mid-September.
Once issued and allotted, an application will be made for the 11,363,636 new ordinary shares to be admitted to trading on AIM. Further announcements will be made as appropriate.
Gervaise Heddle, Chief Executive Officer, commented: "We are delighted to be working with DDH1 again. They very successfully conducted our maiden drill campaign at Havieron earlier this year, which yielded excellent results. DDH1 have become a great partner for us and we are pleased to see that they are backing this project not only with their skillset but by taking equity in the Company. This is a great endorsement for the Havieron project and our exploration efforts. We look forward to continuing to update shareholders on this new, expanded drill programme."
Murray Pollock, Managing Director of DDH1 Drilling Pty Ltd, commented: "We are very pleased to be appointed as drilling providers to the second drill programme at Greatland's Havieron Project. The first drilling campaign yielded exceptional results, and that is why we had no hesitation in accepting shares as part payment for the upcoming drill programme. We look forward to working with Greatland on this exciting project."
About DDH1 Drilling Pty Ltd
DDH1 Drilling Pty Ltd has built its strong reputation on providing exceptional drilling services to the mining industry, including quality deep directional drilling. DDH1 has provided drilling services to many of the largest mining and mineral exploration companies operating in Western Australia and Queensland. Owners Murray Pollock (Managing Director) and Matt Thurston (Operations Director) have a combined 70 years of practical drilling experience between them and are both well known in the Australian Mineral Exploration and Mining industry for their drilling expertise, dedication to enhancing the industry and commitment to risk management and safety.
Additional information on Greatland's projects can be found on the Company web site at www.greatlandgold.com/projects.
Enquiries:
Greatland Gold PLC
Gervaise Heddle/Callum Baxter
Tel: +44 (0)20 3709 4900
Email: info@greatlandgold.com
www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated Adviser)
Mark Brady /Andrew Emmott/James Keeshan
Tel: +44 (0)20 3368 3550
SI Capital Limited (Broker)
Nick Emerson/Alan Gunn
Tel: +44 (0)14 8341 3500
Luther Pendragon (Media and Investor Relations)
Harry Chathli/Ana Ribeiro/Alexis Gore
Tel: +44 (0)20 7618 9100
Notes for Editors:
Greatland Gold plc (AIM: GGP) is a London listed natural resource exploration and development company with a current focus on gold, nickel and cobalt exploration projects.
The Company has six main projects; four situated in Western Australia and two in Tasmania. All projects are 100% owned by Greatland.
Greatland is seeking to identify large mineral deposits in areas that have not been subject to extensive exploration previously. It is widely recognised that the next generation of large deposits will come from such under-explored areas and Greatland is applying advanced exploration techniques to investigate a number of carefully selected targets within its focused licence portfolio.
The Company is also actively investigating a range of new opportunities in precious and strategic metals and will update the market on new opportunities as and when appropriate.