TIDMGGP
RNS Number : 0870P
Greatland Gold PLC
14 November 2016
14 November 2016
Greatland Gold plc
("Greatland" or "the Company")
Bromus - Downhole EM Results
Greatland Gold plc (LON: GGP), the London Stock Exchange AIM
listed precious and base metals exploration and development
business is pleased to announce results of downhole EM at its
Bromus project in Western Australia.
Highlights
-- Downhole electromagnetics ("DHEM") recently completed at the
Bromus project have identified several highly conductive targets
not intersected in the recent drilling campaign conducted at
Bromus;
-- Two of the new targets (located near drill holes BRD001 and
BRD003) have conductances which are consistent with sulphide
mineralisation and are well constrained by the modelling and,
therefore, are considered to be high priority targets; and
-- Greatland expects to launch a new drilling campaign at Bromus
in early 2017, using existing drill pads, that will target these
two high priority targets.
Callum Baxter, Executive Director, commented: 'We are very
pleased to release the results of the independent report prepared
by Southern Geoscience Consultants Pty Ltd regarding the recent
downhole electromagnetics conducted at the Bromus project in
Western Australia.
Several highly conductive targets have been identified by DHEM
modelling, at least two of which are considered to be high priority
targets for massive sulphide mineralisation. These two targets are
particularly appealing because they are well defined, relatively
shallow (approximately 100 metres below surface) and can be drilled
using existing drill pads.
Exploration can be a highly iterative process and we are very
encouraged by the fact that a low cost package of drilling and DHEM
modelling has demonstrated the potential for massive sulphide
mineralisation at this exciting project.
Greatland remains committed to a campaign of active exploration
at its key projects including Bromus, Ernest Giles (drilling
programme currently underway), Firetower, Warrentinna and the
recently acquired Havieron gold project.'
Bromus Project, Western Australia
The Bromus project is located in southern Western Australia,
approximately 25km south west of the town of Norseman, and covers
approximately 93 square kilometres. Several significant clusters of
gold and nickel sulphide deposits lie in the region, such as those
at Central Norseman, Kambalda and Widgiemooltha. Greatland owns
100% of the project.
A review of detailed airborne geophysics defined a 4.5km long
nickel sulphide prospective ultramafic, with coherent elevated
surface geochemistry to 2,690ppm Ni, within the Bromus project
area. Field work confirmed the presence of flow textured ultramafic
lithologies and, despite the proximity to other deposits, no
previous exploration for nickel sulphides is apparent. A fixed loop
ground electromagnetic ("EM") survey was completed in 2015 which
confirmed several significant bedrock conductors in the survey
area.
Such large bodies of conductive material are typically signs of
sulphide deposits. The tenor (or grade) of nickel in these deposits
can only be determined by drilling and laboratory analysis.
Recent drilling of the conductive bodies by Greatland
intersected ultramafic, mafic and granitic lithologies along with
massive and stringer sulphide mineralisation explaining the EM
response of several targets. However, the primary EM target
(BRD001) remained unexplained. (Further information on results from
recent drilling are presented in the announcement to the market
dated 20 September 2016.)
Downhole EM was recently complete to determine the size and
orientation of conductors intersected in each hole and to locate
the conductor not intersected in BRD001.
DHEM was successful in identifying several highly conductive
targets not intersected by Greatland drilling. These targets have
conductances which are consistent with massive sulphide
mineralisation and, as such, are considered high priority targets.
The conductive targets are located close to BRD001 and BRD003. No
conductive sediments were intersected in either of hole BRD001 and
BRD003 discounting these as the source of the downhole EM response.
The targets are well constrained by the modelling and relatively
shallow at approximately 100m below surface.
Modelling of DHEM data shows the conductive targets adjacent to
holes BRD001 and BRD003 are of good size being 130m x 100m and 150m
x 70m respectively. Two drill holes have been planned to intersect
the targets utilising existing drill pads. Drilling is expected to
be carried out in early 2017, following receipt of approvals from
relevant government authorities. Approvals are expected to be
expedited as no ground disturbing activities are required. Further
updates will be provided to the market in due course.
Additional information on the Bromus project can be found on the
Company's website at www.greatlandgold.com/projects
Competent Person:
Information in this announcement that relates to exploration
results is based on information compiled by Mr Callum Baxter, a
director of Greatland Gold plc, who is a member of the Australasian
Institute of Mining and Metallurgy and Australian Institute of
Geoscientists. Mr Baxter has sufficient experience relevant to the
style of mineralisation and type of deposit under consideration and
to the activity which has been undertaken 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 & Gas Companies. Mr Baxter consents to the inclusion in
the announcement of the matters based on their information in the
form and context in which it appears.
Enquiries:
Greatland Gold PLC
Callum Baxter/Gervaise Heddle
Tel +44 (0)20 7747 9980
Email: info@greatlandgold.com
www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated Adviser)
Mark Brady/Sean Wyndham-Quin/James Keeshan
Tel +44 (0)20 3368 3550
SI Capital Limited (Broker)
Nick Emerson / Andy Thacker
Tel +44 (0)14 8341 3500
Notes for Editors:
Greatland Gold plc (LON: GGP) is a London Stock Exchange AIM
listed natural resource exploration and development company with a
current focus on gold and nickel exploration projects.
The Company has five main projects; three situated in Western
Australia and two in Tasmania. All projects are 100% owned by
Greatland or Greatland has the right to take 100% ownership.
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.
Note: This announcement contains inside information which is
disclosed in accordance with the Market Abuse Regulation.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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