Drilling to commence at the Ernest Giles project

RNS Number : 9765I

Greatland Gold PLC

31 March 2015

 



31 March 2015

Greatland Gold plc

("Greatland" or "the Company")

Drilling to commence at the Ernest Giles project

Greatland Gold plc, the mineral exploration and development company based in Australia, is pleased to announce details of drilling  scheduled for the Company's Ernest Giles project.

Highlights

·     RC and Diamond drilling will be carried out at several sites within the Ernest Giles project Q2 2015

·     Drill access has been established with drilling scheduled to commence in early Q2 2015

Callum Baxter, CEO, commented: "We are pleased to announce that drilling will begin at several sites within our Ernest Giles project in Q2 2015. Exciting gold targets will be drilled, including the outstanding Empress and Meadows areas and our new Carnegie target which resembles the 'Nova' nickel discovery."

Ernest Giles Project, Western Australia

The Ernest Giles project is located in central Western Australia, covering an area of 945 square kilometres that includes over 100km 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 (Gold Road Resources ASX:GOR), with over 3.5 million ounces.

A review of airborne geophysics and subsequent MMI sampling was completed during 2014 which clearly defined drill targets across the licences. Such targets include the exciting surface MMI anomaly at Empress, which peaks at 338ppb Au, and the surface MMI anomaly at Meadows, which peaks at 68ppb Au. Meadows is approximately 400m south of massive sulphide mineralisation and gold mineralisation that Greatland intersected during previous drilling. Drilling will also be carried out at the Dromedary structural target in the north of the project area.

Furthermore, we will begin drilling the new Carnegie nickel sulphide target which resembles the size and geophysical signature of the 'Nova' discovery by Sirius Resources NL (ASX:SIR). 'Nova' is one of the most exciting nickel sulphide discoveries in recent years and its resource currently stands at 10.2Mt at 2.4% Ni, 1.0% copper for 242,000t Ni, and 100,000t Cu.

Drill access at Ernest Giles is already established, making use of existing tracks and thus significantly reducing the time required to gain government approvals and locate drilling equipment on site.

The total number of drillholes and metres to be drilled will be dependent on results received and mineralisation intersected, but will initially consist of four vertical holes to 300m depth.

We have lodged application for the relevant government approvals for the drilling. We expect to receive approvals in early Q2 2015 and to commence drilling shortly after. Preliminary results of the drilling will be available approximately four weeks after commencement.

Enquiries:

Greatland Gold PLC

Callum Baxter

Tel [phone]

Email:  [e-mail]

www.greatlandgold.com

Grant Thornton UK LLP (Nomad)

Colin Aaronson / Richard Tonthat

Tel [phone]

SI Capital Limited (Broker)

Nick Emerson / Andy Thacker

Tel  [phone]

Finsbury (Media Relations)

Gordon Simpson / Chris Ryall

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. 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.

Competent Persons

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). 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.

 

END

 

 

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