TIDMGGP
RNS Number : 8552C
Greatland Gold PLC
20 April 2017
20 April 2017
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR).
Greatland Gold plc
("Greatland" or "the Company")
Ernest Giles - Commencement of Work Programme
Greatland Gold plc (LON:GGP), the London Stock Exchange AIM
listed precious and base metals exploration and development
business, is pleased to announce that gravity and passive seismic
survey work has commenced at the Ernest Giles gold project.
Highlights
-- Following the successful drilling programme conducted in late
2016 at Greatland's 100% owned Ernest Giles gold project (see
announcement dated 19 January 2017), Greatland has commenced
gravity and passive seismic survey work at the Ernest Giles
project;
-- The current programme of work includes a comprehensive
gravity survey across large parts of the Ernest Giles project and
trialling of a passive seismic survey technique at several high
priority targets;
-- The key objective of the comprehensive gravity survey is to
provide greater clarity to the mulitple high priority gold targets
across the 1,000 square kilometre project area, thereby further
enhancing future drill location planning;
-- Greatland expects the survey will take four weeks to complete
and Greatland aims to publish the results of the survey
approximately four weeks thereafter once data analysis has been
completed.
Gervaise Heddle, Chief Executive Officer, commented: 'We are
pleased to announce that gravity and and passive seismic survey
work has commenced, with the first area of fieldwork being
conducted at the Meadows target where two large zones of gold
mineralisation were recently identified by a wide-spaced drilling
campaign (see announcements dated 12 January 2017 and 19 January
2017).
Once the work at the Meadows target has been completed, we
expect the survey teams to move on to other high priority targets
including the Empress target in the north-eastern portion of the
Ernest Giles greenstone belt. We would remind investors that the
Ernest Giles project contains multiple attractive gold exploration
targets and we believe that this survey work will help Greatland to
best prioritise future exploration work.
Gravity and passive seismic surveys are an integral part of
large scale exploration efforts for gold mineralisation and are
relatively inexpensive when compared to full-scale drilling
campaigns. Our view remains that the Ernest Giles project has the
potential to host several major gold camps and that our investment
in these surveys will greatly enhance our knowledge of this vast
and virtually unexplored greenstone belt.'
Overview of Ernest Giles Project
The Ernest Giles project is located in central Western
Australia, covering an area of more than 1,000 square kilometres
that includes over 120km of strike of gold and nickel prospective
rocks. The area is covered by desert sands and sediments, making it
virtually unexplored. The region is home to several successful
exploration discoveries such as Tropicana (AngloGold ASX:AGG),
which contains over 7 million ounces, and Yamarna/Gruyere (Gold
Road Resources ASX:GOR), with over 6 million ounces. The Company is
targeting large +5m ounce deposits and clusters of several
camp-type +1m ounce gold discoveries at Ernest Giles.
Earlier drill programmes by the Company at Ernest Giles
intersected gold mineralisation and large alteration systems in
wildcat drilling of blind structural targets defined by detailed
airborne geophysics. This was considered a major achievement for
such a large prospective area with virtually no historical
work.
In late 2016, the Company completed a comprehensive broad spaced
RC drilling programme at Meadows in the south-east of the project
area which tested several large areas based on work completed by
the Company and earlier work by Western Mining Corporation. This RC
drill programme comprised 23 holes for 5,581m. Hole locations were
based on a broad spaced grid pattern of 1,600m x 800m.
Mineralisation was observed in 13 of the 23 holes and several
holes exhibited gold anomalous zones over tens of metres, peaking
at 0.78g/t gold with mineralisation at end of hole. Two large zones
of mineralisation were identified; Western 6km x 1.5km and Eastern
2km x 1.5km. Additional 1m sampling of several intercepts was
undertaken to confirm preliminary results and better define
mineralisation with many significant gold results returned up to
2g/t. Results confirmed mineralisation is present over a large area
at Meadows and suggest that Greatland has discovered a new gold
province in this largely unexplored region.
In late 2014, the Company completed a restricted programme of
Mobile Metal Ion (MMI) surface geochemistry over several target
areas which were outlined from interpretation of detailed
aeromagnetics. Sample spacing was at a nominal 800m x 200m. Results
from this sampling were positive over the Meadows area (peaking at
68ppb gold), and also at the Empress area. At Empress many samples
returned +5ppb gold, which is quite high for MMI results, plus
several above 40ppb gold peaking at 338ppb gold at the eastern
extremity of three consecutive sample lines potentially outlining a
significant anomaly 3km long by 1km wide which remains open to the
east.
It should be noted that the Ernest Giles project area covers
over 1,000 square kilometres and is host to a number of other high
priority targets such as Wishbone (a high priority structural
target), and Maple (a coincident MMI and structural target in the
west of the project area).
Following a recent review of gold targets and mineralisation
over the large project area the Greatland board believe that more
information is required to prioritise drilling efforts. A
comprehensive ground based gravity survey will be undertaken over
the majority of the licence area to better define structural and
lithological features. Ground gravity station spacing will be
initially set at 1,600m x 200m and will take approximately four
weeks to complete. Also, a relatively new passive seismic technique
(Tromino) will also be trialled in an effort to provide reliable
basement profiles in areas of interest and this is likely to take
approximately two weeks to complete at a variable station spacing
as required.
Combining our detailed aeromagnetics with deep sensing
geochemistry, ground gravity and passive seismic will provide us
with an enhanced ability to generate and priorities drill targets
thereby making our exploration efforts more cost effective. Our
successful efforts to date have highlighted the potential of the
Ernest Giles project to host several, very large, mineralised
systems.
Additional information on the Ernest Giles project can be found
on the Company web site 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 is London listed (LON:GGP) 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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