Commencement of drilling at Warrentinna Project

RNS Number : 2708G

Greatland Gold PLC

19 November 2015

 

19 November 2015

Greatland Gold plc

("Greatland" or "the Company")

Greatland commences drilling at Warrentinna Project

Greatland Gold plc, the mineral exploration and development company based in Australia, announces that it has commenced drilling at its Warrentinna gold project located in Tasmania.

Key points

·     Commencement of RC drilling at Warrentinna gold project

·     Focussing on main zones of high-grade gold

·     Depth extensions to mineralisation targeted and further updates in the coming weeks

Callum Baxter, CEO, commented: "We are pleased to announce that drilling at the Warrentinna project is underway. The drilling is designed to test depth extensions at our more advanced targets and is focused on the major areas of high-grade gold mineralisation. We look forward to updating the market with results of the drilling in the coming weeks."

Warrentinna Project, Tasmania

The Warrentinna project is located in north east Tasmania and covers an area of 37 square kilometres. The project hosts several known gold occurrences, including Derby North where we have intersected significant levels of gold mineralisation, some over 50g/t.

As announced on 24 September 2015 we have planned additional drilling at the project following a full review. We are pleased to have received all relevant government approvals for the drilling programme.  A well equipped drill contractor has been appointed and, thanks to favourable weather conditions, drilling has now commenced.

Initially, the drilling program will comprise three angled reverse circulation (RC) drill holes each to a maximum depth of 140m, for a total of 420m. We have also prepared for additional holes of varying depths, should they be required.

We will drill several targets at Derby North and the immediate surroundings. The drill holes will focus on the high-grade zones at Derby North and along strike. Drill holes will determine depth extensions to the main mineralisation and that along strike.

We expected to dispatch the first batch of samples to the laboratory later this month, and to receive results approximately four weeks later. We look forward to providing further updates in the coming weeks.

Bromus Project, Western Australia

The Bromus project is located in southern Western Australia, approximately 25km south west of the town of Norseman. At Bromus, we have successfully identified several significant bedrock conductors that require drill testing. These bedrock conductors may hold economic accumulations of nickel sulphides. Currently we are working to secure all relevant approvals for drilling.

As announced on 24 September 2015, drilling of the bedrock conductors was scheduled for Q4 2015. We expect to receive all necessary approvals during the current quarter.

Separately, several very severe bush fires are affecting the region, one of which is close to the Bromus project. We will not expose field personnel to this potentially dangerous situation and are monitoring the situation closely. It may be necessary to postpone drilling until we can ensure the safety of our field crews. Our thoughts are with those who have been affected by the devastation that the bush fires have caused.

 

Enquiries:

Greatland Gold PLC

Callum Baxter

Tel [phone]

Email:  [e-mail]

www.greatlandgold.com

Grant Thornton UK LLP (Nomad)

Colin Aaronson / Richard Tonthat / Daniel Bush

Tel [phone]

SI Capital Limited (Broker)

Nick Emerson / Andy Thacker

Tel  [phone]

Finsbury (Media Relations)

Gordon Simpson / Olivia Simpson

Tel [phone]

Notes to Editors

Greatland is a mineral exploration and development company based in Australia. The principal activity of Greatland Gold plc is to explore for and develop natural resources, with a focus on gold and nickel. The Company currently has four mineral projects located in Australia, including the Ernest Giles, Bromus, Firetower and Warrentinna projects. The pipeline of projects targets highly prospective areas for large gold and nickel sulphide orebodies. The Company was established in London in 2005 and admitted to AIM in July 2006.

The board seeks to increase shareholder value through the systematic evaluation of its existing resource assets, as well as the acquisition of suitable exploration and development projects and producing assets.

Greatland has a UK and Australian based board of directors, with a head office in London and an exploration office in Australia.

 

END

 

 

DRLKKLBFEFFLFBV