TIDMGGP
RNS Number : 7502Q
Greatland Gold PLC
30 June 2022
30 June 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK MARKET ABUSE REGULATIONS. ON PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION
IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Greatland Gold plc
( " Greatland " or "the Company " )
Greatland commences 2022 Exploration Programme at 100% owned
Paterson projects
Drill programme to focus on new conductor targets identified
at Scallywag licence including Pearl, Swan and Swan East
Maiden exploration activities to commence at Rudall and Pascalle
licences
Greatland Gold plc (AIM:GGP), the precious and base metals
exploration and development company , is pleased to announce the
commencement of the 2022 exploration programme at its 100% owned
projects in the highly prospective Paterson province of Western
Australia .
Highlights of 2022 Exploration Programme:
Scallywag:
-- Exploration programme has commenced at Scallywag and
leverages a rich source of geological information and understanding
of the area to drill several promising new conductor targets
-- Drill programme designed to test ground Electro-Magnetic
("EM") conductors for Telfer style mineralisation at Pearl, Swan
and Swan East targets
-- Ultra Fine Fraction soil sampling geochemistry results
currently being integrated into regional geological interpretation
and targeting framework
-- Ongoing review of ground EM geophysics data and 2020 airborne
Electro-Magnetic survey to enhance targeting and identify further
aerial anomalies for ground EM follow-up
-- Further analysis of the drilling results from 2021, 2020 and
integration into ongoing basin-wide geophysical and geological
modelling to drive further targeting
-- Heritage clearances completed and access and drill pad
clearing underway ahead of drill programme commencing at
Scallywag
Rudall and Pascalle:
-- Maiden exploration drill programme planned for identified
targets at recently acquired Rudall and Pascalle licences
-- Heritage approvals completed at Pascalle and Rudall with
access planning underway
-- Government grant to be used to co-fund exploration at Rudall
licence located 20km southeast of the Havieron gold-copper
resource
-- Licences sit in prime locations with Rudall situated 20km
south-southeast of Havieron and Pascalle situated between Havieron
and the Newcrest Mining Telfer gold mine
Shaun Day, Managing Director of Greatland Gold plc, commented: "
We are excited to accelerate Greatland's exploration programme and
commence on the ground activities at our 100% owned projects in the
Paterson province of Western Australia, regarded as one of the
world's most prospective frontiers for the discovery of
multi-cycle, tier-one gold-copper deposits.
"The 2022 campaign at Scallywag follows encouraging exploration
results reported last year, where four of seven holes intercepted
gold mineralisation. The maiden drill programme at our newly
acquired Pascalle and Rudall tenements is equally significant with
Rudall considered to be prospective for Havieron and Telfer style
gold-copper occurrences, while Pascalle sits directly between the
two world class discoveries of Havieron and Telfer.
"We look forward to unlocking value by systematically
progressing exploration through these Havieron and Telfer like
priority targets to take advantage of our strong position in this
prospective region. "
In addition to this release, a PDF version of this report with
supplementary information can be found at the Company's website:
www.greatlandgold.com/media/jorc/
Enquiries:
Greatland Gold PLC +44 (0)20 3709
Shaun Day 4900
info@greatlandgold.com
www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated
Adviser) +44 (0)20 3368
Andrew Emmott/James Keeshan 3550
Berenberg (Joint Corporate Broker and Financial
Adviser) +44 (0)20 3207
Matthew Armitt/ Jennifer Lee/ Detlir Elezi 7800
Canaccord Genuity (Joint Corporate Broker
and Financial Adviser) +44 (0)20 7523
James Asensio/Patrick Dolaghan 8000
Hannam & Partners (Joint Corporate Broker
and Financial Adviser) +44 (0)20 7907
Andrew Chubb/Matt Hasson/Jay Ashfield 8500
SI Capital Limited (Joint Broker) +44 (0)14 8341
Nick Emerson/Sam Lomanto 3500
Luther Pendragon (Media and Investor Relations) +44 (0)20 7618
Harry Chathli/Alexis Gore 9100
Further Information on the 2022 Paterson Exploration
Programme
Swan
Exploration drill hole SWD001, drilled in 2021 returned
geochemically significant Au assays (reported in RNS dated 5 April
2022) . Drilling did not adequately explain the source of the
airborne electromagnetic anomaly. Ground EM surveying completed in
2021 helped to define constrained conductor targets in the Swan
area. Drill testing of these ground EM conductor plates to the east
and west of Swan will commence this season with two holes
planned.
Pearl
Similar ground EM conductor plates were identified in the 2021
survey at Pearl (A32), reported in RNS dated 5 April. Additional
ground EM is currently underway to further refine the target
conductors, and drilling is scheduled to commence shortly. At least
two Reverse Circulation ("RC") and Diamond Drill ("DD") holes are
planned and will be drilled in the coming weeks.
Swan East
Conductors were also identified at A34 and A35, further to the
east of Swan, in similar geological settings. A short ground EM
follow up survey has just been completed at A35 and the results are
being integrated into the modelling to refine drill targets. Up to
4 RC/DD holes are planned on these targets.
In addition to drill testing the ground EM targets, geophysical
modelling and data processing of the ground and aerial EM, gravity
and magnetic datasets is continually underway, looking to identify
further drill targets. Surface soil sampling across existing tracks
over the Ground EM target areas was recently completed, to test
effectiveness of it as abroad screening method over potentially
mineralised bedrock, as found at SWD001. Analysis of the results is
underway.
Rudall
The Rudall licence covers an area of approximately 65 square
kilometres approximately 20km south-southeast of Greatland's
Havieron gold-copper resource. The licence is considered to be
prospective for Havieron and Telfer style gold/copper
occurrences.
Greatland has completed geophysical modelling to enhance
preliminary targets identified at the Rudall licence, including the
Ramses magnetic anomaly. The modelling suggests the depth to top of
the magnetic anomaly is approximately 700m below surface.
Further geophysical survey work is planned this year to refine
the Ramses anomaly and improve targeting utilising the Exploration
Incentive Scheme ("EIS") Government grant to co-fund the
exploration drill program .
Pascalle
The Pascalle tenement (E45/5316) covers a 75km (2) area located
in the heart of the Paterson Province approximately equidistant
between the world class Havieron gold-copper deposit and Newcrest
Mining's Telfer Gold Mine.
The Pascalle tenement remains underexplored as bedrock sits
beneath 20-50m of cover limiting the application of traditional
surface exploration methods. The area has a number of key
geological similarities with other major discoveries in the region
including a heat source (O'Callaghan's Granite) to generate
circulation of metal rich fluids, hydrothermal pathways along
basement faults and both structural and stratigraphic traps to
concentrate mineral deposition. Review of historical data, target
generation and exploration work program planning is underway.
Juri JV (Black Hills and Paterson Range East Tenements)
RC drilling has commenced on the Juri JV project at the A27
Black Hills North target, identified from previous gravity,
magnetics and IP data modelling, and further delineated by 2021
ground EM surveying (RNS dated 31 May 2022). A diamond drill rig is
planned to arrive in the next few weeks to continue the program at
the Paterson Range East tenement targets Tama and A9.
In addition to drill testing the ground EM targets, geophysical
modelling and data processing of the ground and aerial EM, gravity
and magnetic datasets is continually underway, looking to identify
further drill targets. Surface soil sampling across existing tracks
over the JV tenement areas was recently completed, to test
effectiveness of it as abroad screening method over potentially
mineralised bedrock, as found at BHD003 (2021 program, RNS dated 23
Dec 2021). Analysis of the results is underway.
Competent Person:
Information in this announcement that relates to historical
exploration results has been extracted from the following
announcements:
"Second year exploration programme at Juri JV" dated 31 May
2022
" Results from 2021 Exploration Programme Scallywag " dated 5
April 2022
"Final Results of Exploration programme at Juri JV" dated 23
December 2021
"Drilling Commences at 100% owned Scallywag Licence" dated 24
August 2021
"Scallywag Drill Results" dated 19 April 2021
"Initial Scallywag Results, New Targets Identified" dated 20
January 2021
"Greatland commences drilling at Scallywag prospect" dated 19
August 2020
"New Drill Targets at Scallywag" dated 30 October 2019
"Greatland Advances Exploration at Scallywag" dated 15 August
2019
"Paterson Project - Scallywag Target's MMI Results" dated 23
October 2018
Information in this announcement has been reviewed and approved
by Mr Damien Stephens, a M ember of the Australian Institute of
Mining and Metallurgy ( AUSIMM ), who has more than 25 years
relevant industry experience. Mr Stephens, an employee of the
Company, has sufficient experience relevant to the style of
mineralisation, 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 & 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 relevant market
announcements, and that the form and context in which the
information has been presented has not been materially
modified.
Additional information on the project can be found on the
Company's website at https://greatlandgold.com/projects/scallywag/
, https://greatlandgold.com/projects/rudall-and-canning/
In addition to this release, a PDF version of this report with
supplementary information can be found at the Company's website:
www.greatlandgold.com/media/jorc
Notes for Editors:
Greatland Gold plc (AIM:GGP) is a mining development and
exploration company with a focus on precious and base metals . The
Company's flagship asset is the world-class Havieron gold-copper
deposit in the Paterson region of Western Australia, discovered by
Greatland and presently under development in Joint Venture with
Newcrest Mining Ltd.
Havieron is located approximately 45km east of Newcrest's Telfer
gold mine and, subject to positive decision to mine, will leverage
the existing infrastructure and processing plant to significantly
reduce the project's capital expenditure and carbon impact for a
low-cost pathway to development. An extensive growth drilling
programme is presently underway at Havieron with a maiden
Pre-Feasibility Study released on the South-East crescent on 12
October 2021. Construction of the box cut and decline to develop
the Havieron deposit commenced in February 2021.
Greatland has a proven track record of discovery and exploration
success. It is pursuing the next generation of tier-one mineral
deposits by applying advanced exploration techniques in
under-explored regions. The Company is focused on safe, low-risk
jurisdictions and is strategically positioned in the highly
prospective Paterson region. Greatland has a total six projects
across Australia with a focus on becoming a multi-commodity mining
company of significant scale.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCEBLBXLQLEBBE
(END) Dow Jones Newswires
June 30, 2022 02:00 ET (06:00 GMT)
Greatland Gold (LSE:GGP)
Historical Stock Chart
From Apr 2024 to May 2024
Greatland Gold (LSE:GGP)
Historical Stock Chart
From May 2023 to May 2024