Firetower drilling - further gold mineralisation

RNS Number : 1350X

Greatland Gold PLC

17 December 2019

 

17 December 2019

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

Greatland Gold plc

("Greatland" or "the Company")

Firetower drilling confirms further broad widths of gold mineralisation

Growing potential for a robust, near-surface gold system at Firetower

First drill hole at Firetower East intersects zinc and silver mineralisation

Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, is pleased to announce that further results from diamond drilling at the Company's 100% owned Firetower project in Tasmania, Australia confirm the presence of additional broad widths of shallow gold mineralisation. In addition, zinc and silver mineralisation has been intersected in the first drill hole at Firetower East.

A systematic, grid-based drilling programme at Firetower, comprising 14 diamond holes with depths from 50m to 160m, for a total of approximately 1,530 metres, has been completed. The programme was designed to test the main zone of gold mineralisation and results to date have confirmed broad widths of gold mineralisation (see announcement dated 24 September 2019). In addition to this programme, two further holes for a total of approximately 670m were drilled to test new targets identified by last year's 3D Induced Polarisation ("3DIP") survey at Firetower East, approximately 500m east of Firetower.

Analytical results have been received for a further eight diamond holes (including the first drill hole at Firetower East) and two hole extensions and are reported in this announcement.

Highlights of Drill Results

Firetower

·    Further broad widths of shallow gold mineralisation intersected at Firetower prospect highlight the potential for a robust, near-surface gold system

·    Best results include:

o  13.5m at 2.00g/t Au from 14.5m (2019FTD008)

o  13.5m at 2.44g/t Au from 59.5m (2019FTD011)

o  38m at 1.12g/t Au from 11m (2019FTD013)

Firetower East

·    Zinc and silver mineralisation encountered in Greatland's first drill hole at the previously undrilled Firetower East prospect

·    Encouraging results indicate the potential for a base metal Volcanic Hosted Massive Sulphide ("VHMS") system

Next Steps

·    Analytical results for the final two holes (including the second drill hole at Firetower East) are expected to be received in early 2020

Gervaise Heddle, Chief Executive Officer, commented: "We are pleased to report a second set of positive results from our recent drilling campaign at Firetower. They show a further improvement in the continuity between drill sections and highlight the potential for a robust, near-surface gold system. Initial results at the previously undrilled Firetower East prospect are also promising, with drilling intersecting silver and zinc mineralisation and the potential for a Volcanic Hosted Massive Sulphide system."

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/ 

Overview of the Firetower Project

The Firetower project is located in central north Tasmania, Australia, and covers an area of 62 square kilometres. The project lies in the eastern parts of the highly mineralised Mt Read volcanic rocks which host major polymetallic (zinc, lead, gold) deposits such as Hellyer and Roseberry, and copper deposits such as Mt Lyell, and the Henty gold mine which has produced over 1.25m oz since 1996.

The 100% owned Firetower project includes the prospects of Firetower, Firetower West, Firetower East and the strike extensions of prospective stratigraphy. The Firetower prospect has significant gold mineralisation from surface up to 30g/t while the mineralised system at Firetower West shows copper to 1.34% and silver to 2.6g/t. Both prospects remain open along strike and at depth.

Gold mineralisation at Firetower was first located in the late 1970s but this was not followed up until the early 1990s with reconnaissance drilling. More modern exploration by Greatland and JV partners has included soil geochemistry, geophysics and diamond drilling. Drilling to date has, in general, tested approximately 250m of strike at the main Firetower prospect. A primary objective of the drilling was to determine strike continuity and depth extensions as guided by 3DIP inversions.

The current diamond drilling programme is complete, with results for a further 8 holes and 2 hole extensions received and announced today. Analytical results for the final 2 holes of the drill programme are pending and are expected to be received in early 2020 (one hole from Firetower 2019FTD015 and one hole from Firetower East 2019FTD016). 

Drilling was carried out on systematic north-south traverses across the main mineralised zone at the Firetower prospect. The programme comprised 14 holes with depths from 50m to 160m. Holes were angled at 60 degrees to provide coverage across each section.  Approximately 1,530m of drilling was completed at the Firetower prospect. Spacing between drill traverses was a nominal 25m. Two holes were drilled at Firetower East for a total of 670m testing a strong IP chargeability response, approximately 500m east along strike from the Firetower prospect.

The main zone of gold mineralisation at the Firetower prospect is spatially associated with an IP chargeability response. The IP response at Firetower, as established by both 3DIP (2018) and gradient array (2002) surveys, extends across approximately 3km of strike. The IP response at Firetower East (approximately 500m east of Firetower) appears to correspond with base metal mineralisation (elevated zinc to 3410ppm), in a package of volcanoclastic rocks, indicating potential for a VHMS style mineralised system. Further work will be undertaken to outline additional  base/precious metal prospectivity along the 3km of strike as defined by IP results from the 3D and gradient array surveys.   

Mineralisation at Firetower is hosted in a package of volcanic and sedimentary rocks with an apparent structural control. Peak 2019 intercept to date is 2m at 21.2g/t Au from 81m in hole 2019FTD004. Results suggest that there is good continuity of mineralisation between sections and highlights potential depth extensions to the known mineralisation. From earlier 2019 holes (see announcement 24 September 2019), gold mineralisation was encountered at the bottom of holes 2019FTD001 and 2019FTD006. These holes were extended in order to test for additional mineralisation at depth. Significant results from the extension of 2019FTD006 are 11m at 2.06g/t Au from 99m including 4.5m at 4.35g/t Au from 103.5m.

Broad widths of shallow gold mineralisation at the Firetower prospect are again reported today including 13.5m at 2.00g/t Au from 14.5m (2019FTD008), 13.5m at 2.44g/t Au from 59.5m (2019FTD011) and 38m at 1.12g/t Au from 11m (2019FTD013).

Significant assay results include:

·    2019FTD006 (extension): 11m @ 2.06g/t Au from 99m 

   Incl 4.5m @ 4.35g/t Au from 103.5m

·    2019FTD007: 7m @ 1.61g/t Au from 48m  

   Incl 3m @ 3.47g/t Au from 52m and

   8m @ 0.76g/t Au from 86m  

   Incl 2.5m @ 1.84g/t Au from 90.5m

·    2019FTD008: 3m @ 0.63g/t Au from 5.5m and  

  13.5m @ 2.00g/t Au from 14.5m

  Inc 5m @ 3.65g/t Au from 23m and 

  3m @ 1.54g/t Au from 32m                                

·    2019FTD009 (Firetower East): 6m @ 2405ppm Zn, 2.2ppm Ag from 140m and                                                    8m @ 2860ppm Zn, 1.0ppm Ag from 152m and                                                                                   19m @ 1089ppm Zn, 2.0ppm Ag from 257m and

                                1m @ 0.47g/t Au from 276m                                             

·    2019FTD010: 8.5m @ 0.73g/t Au from 4m and

8m @ 0.54g/t Au from 29m

·    2019FTD011: 13m @ 0.60g/t Au from 25m   

                               Incl 2m @ 1.50g/t Au from 25m and

                               13.5m @ 2.44g/t Au from 59.5m                                                                                                             Incl 2.5m @ 5.92g/t Au from 64m

·    2019FTD012: 3m @ 1.08g/t Au from 48m and                                                                             

26.5m @ 1.12 g/t Au from 76m                                                                

Incl 4.5m @ 2.41g/t Au from 84m                                                       

·    2019FTD013: 38m @ 1.12g/t Au from 11m

Incl 6m @ 2.06g/t Au from 31m                                                                     

Incl 4m @ 4.37g/t Au from 41m

·    2019FTD014: 1.5m @ 0.81g/t Au from 109m and

6m @ 0.40g/t Au from 135m                                                                           

Drill hole collar details and tabulated intercepts are presented in Appendix I and additional drill hole information is presented in Appendix II.

Competent Person:

Information in this announcement that relates to exploration results is based on information compiled by Mr Mick Sawyer who is a member of the Australian Institute of Geoscientists and is a Registered Professional Geoscientist (R.P.Geo #10194). Mr Sawyer is Exploration Manager and a full-time employee of Greatland Pty Ltd, and holds employee options in Greatland Gold plc. Mr Sawyer 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 Sawyer consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears.

 

Information in this announcement that relates to exploration results has been extracted from the following announcements:

"Exploration Update - Firetower Drill Results", dated 24 September 2019

"Greatland Commences Field Activities at Firetower", dated 12 June 2019

"Firetower Project - Launch of New Drilling Plan", dated 16 April 2019

"Firetower Project - Large IP Target Identified", dated 20 August 2018

"Firetower Project - New Exploration Program", dated 11 April 2018

Additional information on the Firetower project can be found on the Company web site at www.greatlandgold.com/projects.

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

Gervaise Heddle/Callum Baxter

Tel: [phone]

Email:  [e-mail]

www.greatlandgold.com

SPARK Advisory Partners Limited (Nominated Adviser)

Andrew Emmott/James Keeshan

Tel: [phone]

SI Capital Limited (Joint Broker)

Nick Emerson/Alan Gunn

Tel:  [phone]

Numis Securities Limited (Joint Broker)

John Prior/Paul Gillam/Alamgir Ahmed

Tel: [phone]

Luther Pendragon (Media and Investor Relations)

Harry Chathli/Alexis Gore/Joe Quinlan

Tel: [phone]

Notes for Editors:

Greatland Gold plc is a London Stock Exchange AIM-listed (AIM:GGP) natural resource exploration and development company with a current focus on gold, copper and nickel exploration projects.

The Company has six main projects; four situated in Western Australia and two in Tasmania.  All projects are 100% owned by Greatland.

In March 2019, Greatland signed a Farm-in Agreement with Newcrest Operations Limited, a wholly-owned subsidiary of Newcrest Mining Limited (ASX:NCM), to explore and develop Greatland's Havieron gold-copper project in the Paterson region of Western Australia. Newcrest has the right to acquire up to a 70% interest in a 12-block area within E45/4701 that covers the Havieron target by spending up to US$65 million.

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.

APPENDIX I

Drillhole Data - Firetower Project

Firetower 2019 Diamond Drilling - Collar Locations (GDA94 Zone55)

Hole ID	Prospect	Northing	Easting	RL	Hole Depth	Azimuth	Dip
2019FTD001Ext	Firetower	5405314	446077	644	90	360	-60
2019FTD006Ext	Firetower	5405267	446100	623	134	360	-60
2019FTD007	Firetower	5405243	446123	628	98.7	360	-60
2019FTD008	Firetower	5405305	446102	639	50.8	360	-60
2019FTD009	Firetower East	5405100	446602	608	351.4	360	-60
2019FTD010	Firetower	5405308	446128	644	52	360	-60
2019FTD011	Firetower	5405275	446125	635	86.2	360	-60
2019FTD012	Firetower	5405253	446152	640	142.7	360	-60
2019FTD013	Firetower	5405272	446150	640	104.4	360	-60
2019FTD014	Firetower	5405192	446127	611	163	360	-60

Firetower and Firetower East 2019 Diamond Drilling - Intercepts

Reporting Criteria:  Intercepts reported as a minimum length of 1m, greater than or equal to 0.2ppm Au, with maximum internal dilution of 4m and intervals greater than or equal to 0.5ppm Au with zero metres of internal dilution.

Hole ID	From	To	Interval	Au (g/t)	Ag ppm
2019FTD001Ext	No Significant Results
2019FTD006Ext	89.2	91	1.8	1.74	2.8
	99	110	11	2.06	5.9
incl	103.5	108	4.5	4.35	8.1
	116.5	124.8	8.3	0.53	3.9
incl	119	122	3	0.86	5.2
	129.5	130.5	1	0.96	4.5
2019FTD007	48	55	7	1.61	1.9
incl	52	55	3	3.47	1.8
	73	80	7	0.21	2.7
	86	94	8	0.76	2.8
incl	90.5	93	2.5	1.84	4.6
2019FTD008	5.5	8.5	3	0.63	2.4
	14.5	28	13.5	2.00	4.3
incl	17	21.4	4.4	1.45	3.5
incl	23	28	5	3.65	6.7
	32	35	3	1.54	4.6
	47	48	1	0.21	0.6
2019FTD010	4	12.5	8.5	0.73	1.2
	19	20	1	0.24	0.8
	29	37	8	0.54	1.7

2019FTD011	0.8	7	6.2	0.31	1.5
	14	18	4	0.69	2.4
incl	16	18	2	1.05	3.3
	25	38	13	0.60	2.0
incl	25	27	2	1.50	3.9
incl	28	29.5	1.5	0.76	3.6
	50	52	2	1.14	1.1
	59.5	73	13.5	2.44	5.7
incl	60	61	1	0.99	2.5
incl	64	66.5	2.5	5.92	12.8
incl	69	73	4	3.47	4.2
	76.5	83	6.5	0.21	3.1
2019FTD012	38	40	2	0.28	1.5
	48	51	3	1.08	8.8
	65.5	67.5	2	0.57	4.3
	76	102.5	26.5	1.12	2.2
incl	78	80	2	2.21	10.4
incl	84	88.5	4.5	2.41	2.5
incl	89	91	2	2.23	3.4
	108.5	109.5	1	0.43	0.6

2019FTD013	11	49	38	1.12	2.4
incl	31	37	6	2.06	3.0
incl	41	45	4	4.37	1.6
	73	74	1	0.25	0.4
	81	82	1	0.26	0.9
	83	84	1	0.45	3.3

2019FTD014	109	110.5	1.5	0.81	9.1
	135	141	6	0.40	1.7

Reporting Criteria:  for 2019FTD009 intercepts rreported as minimum length of 1m, greater than or equal to 500ppm Zn, with maximum internal dilution of 4m.  

Hole ID	From	To	Interval	Au (g/t)	Ag ppm	Zn ppm
2019FTD009	140	146	6	0.01	2.2	2405
2019FTD009	152	160	8	0.00	1.0	2860
2019FTD009	213	227	14	0.02	1.6	1609
2019FTD009	233	234	1	0.07	3.4	3410
2019FTD009	257	276	19	0.02	2.0	1089
2019FTD009	276	277	1	0.47	1.2	460

APPENDIX II

JORC Code 2012 Table 1 - Firetower Project

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	Explanation
Sampling techniques	•    Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. •    Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. •    Aspects of the determination of mineralisation that are Material to the Public Report. In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	2019 Diamond Drilling ·      Assays have been received for a further 8 holes and 2 hole extensions.  14 of a 16 hole program have now been reported.  In aggregate, ~2,200m of drilling was completed with 14 holes at Firetower and 2 holes at Firetower East. ·      Samples consist of diamond drill core (HQ and NQ sizes) cut in half.  ·      All available core was cut and sampled.  Sampling interval is generally 1m or 0.5m, but respects geological contacts in places.  Sampling was carried out to Greatland internal protocols and QAQC procedures. ·      Entire samples were crushed then pulverised to a nominal 85% passing 75 microns.  The resulting pulps were analysed for Au (50g charge, fire assay) and multi-element geochemistry (four acid digest ICP-MS).  ·      The method of sampling is industry standard for reporting of Exploration Results. ·      Locations and orientation of 2019 drill holes for this release are tabulated in Appendix I.
Drilling techniques	•    Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	Diamond Drilling ·      Drilling was undertaken using a track mounted Coretech CSD1800 drill rig.  The drill rig is capable of ~1000m NQ.  ·      Drill holes were cased with HWT casing to ~3m.  HQ sized drill core from 0m to ~20m followed by NQ drill core from 20m to end of hole.
Drill sample recovery	•    Method of recording and assessing core and chip sample recoveries and results assessed. •    Measures taken to maximise sample recovery and ensure representative nature of the samples. •    Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	·      Length based core recovery is measured from reassembled core for every drill run.  Data is recorded into laptop computer using 'LogChief' - geological logging software.      ·      Core recovery is very high (97%).  The drilling method employed leads to very high recoveries.  ·      Due to consistently high recoveries, no relationship between grade and recovery is evident.
Logging	•    Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. •    Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. •    The total length and percentage of the relevant intersections logged.	·      All drill core/samples were geologically logged for lithology, mineralogy, alteration, veining, sulphide occurrences, structure and geotechnical data.  This logging includes both qualitative and quantitative components.  All core is digitally photographed. ·      Logging is recorded directly into a laptop computer using 'LogChief' - geological logging software.  This software has 'look-up tables' that do not allow for invalid entries.  Additional validation is then carried out when data is transferred to Greatlands database managers. ·      All samples are analysed in the field using a pXRF (Olympus Vanta handheld - model VMR) for the purpose of geochemical interpretation. ·      All core is analysed in the field using a Minalyze unit.  This collects ultra-high resolution photography, and continuous XRF measurements.
Sub-sampling techniques and sample preparation	•    If core, whether cut or sawn and whether quarter, half or all core taken. •    If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. •    For all sample types, the nature, quality and appropriateness of the sample preparation technique. •    Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. •    Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. •    Whether sample sizes are appropriate to the grain size of the material being sampled.	·      All sampled core was cut with a core saw in a consistent way that preserved the bottom of hole reference line, where present.  Sampling interval is generally 1m or 0.5m, but respects geological contacts in places. ·      Sample preparation included drying, crushing and pulverising in full to a nominal 85% passing 75 microns.  ·      All staff were adequately trained for all sampling steps, with geologists checking sample sheets prior to loading into the database. ·      The sample sizes are considered appropriate for the style of mineralisation encountered in the region.  ·      No field duplicates have been collected/reported.
Quality of assay data and laboratory tests	•    The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. •    For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. •    Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	·      All samples were submitted for preparation at Intertek laboratory Adelaide.  Pulp samples were then submitted for analysis to Intertek Perth Laboratory. ·      Au analysis - 50g Fire Assay/ICP-OES (detection limit of 0.005ppm). ·      Multi-Element analysis - four acid digestion ICP-MS (for Ag, Al, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, TI, U, V, W, Y, Zn, Zr). ·      No geophysical tools were used for any element concentrations in this report. ·      All samples are analysed in the field using a pXRF (Olympus M-series) for the purpose of geochemical interpretation.  This data is for internal company use only. ·      Quality Control procedures in the field involve the use of certified reference material (CRM's) for assay standards and blanks.  Standards and blanks are inserted every 20 samples.  ·      No field duplicates have been collected/reported.
Verification of sampling and assaying	•    The verification of significant intersections by either independent or alternative company personnel. •    The use of twinned holes. •    Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. •    Discuss any adjustment to assay data.	·      Significant intersections have been verified by multiple company personnel. ·      No twin holes have been drilled. ·      Logging is recorded directly into a laptop computer using 'LogChief' - geological logging software.  This software has 'look-up tables' that do not allow for invalid entries.  Additional validation is then carried out when data is transferred to Greatlands database managers. ·      No adjustments have been made to any assay data. ·      Primary assay data is stored in its electronic form, and retained in both original certificate form (.pdf) and text/.csv files.
Location of data points	•    Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. •    Specification of the grid system used. •    Quality and adequacy of topographic control.	Location information ·      Drill hole collar locations were surveyed using a handheld Garmin 64ST GPS (accuracy of ± 5m). ·      All coordinates are in GDA94 Zone55.   ·      Down hole surveys were conducted every 30m using an Axis Champ Discover survey tool.  ·      Topographic control of drill collars utilises handheld GPS information.
Data spacing and distribution	•    Data spacing for reporting of Exploration Results. •    Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. •    Whether sample compositing has been applied.	·      Drill planning at Firetower was designed to reduce spacing to ~15m between sections, and drill all holes in the same orientation (north) for the collection of systematic geological information. Average spacing between drill holes on sections is ~40m. ·      At Firetower East, drilling targeted an IP chargeability anomaly. ·      Historic drilling was of an ad-hoc nature, with average section spacing (east-west) of ~30m (in the main Firetower area), although holes  have been drilled both to the north and south so continuity of geological information collected has been sparse.  ·      The data spacing is not sufficient to establish a Mineral Resource.
Orientation of data in relation to geological structure	•    Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. •    If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	·      It is interpreted that the local geology is sub-vertical.  The orientation of drill holes is not believed to have introduced any bias in sampling.  ·      The orientation of key mineralised structures is unknown.  ·      There is presently insufficient information to confirm the true thickness of any mineralised intervals.
Sample security	•    The measures taken to ensure sample security.	·      Samples were freighted to the Laboratory using Greatland chain of custody protocols.   ·      Verification of sample numbers and identification is conducted by the laboratory on receipt of samples, and sample receipt advise issued to Greatland. ·      Details of all sample movement are digitally recorded.  Dates, Hole ID sample ranges, and the analytical suite requested are recorded with the dispatch of samples to analytical services.
Audits or reviews	•    The results of any audits or reviews of sampling techniques and data.	·      No audits have been completed. ·      No reviews are considered required due as the project is in early phase of exploration.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	Explanation
Mineral tenement and land tenure status	•    Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. •    The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	·      The Firetower Project is located wholly within the following Exploration Licence: ·      EL26/2004 (granted) ·      Greatland Pty Ltd holds a 100% interest in EL26/2004 ·      The tenements are in 'good standing' with Minerals Resources Tasmania (MRT). ·      No known impediments exist, including a licence to operate in the area.
Exploration done by other parties	•    Acknowledgment and appraisal of exploration by other parties.	·      Exploration in the region of the Firetower Project has involved the following companies: ·      Arasco (1970's) ·      CRA (1984) ·      Noranda and Noranda Plutonic JV (1989-1993) ·      Sirrocco (2000) ·      Auriongold (2001-2002) ·      Greatland Pty Ltd (2004-2011) ·      Unity Mining Limited (2011-2014) ·      Greatland Pty Ltd (2015 - current)
Geology	•    Deposit type, geological setting and style of mineralisation.	·      The Firetower project lies in the central north of Tasmania within equivalents of the Mt Read Volcanics. ·      Gold mineralisation is hosted in volcanoclastic rocks and manifest as sheeted veins (and breccias) with associated pyrite, haematite, quartz and limonite. ·      At Firetower East, Zinc and Silver mineralisation appears to be associated with an IP chargeability anomaly.  Zinc mineralisation occurs as veins and disseminations.
Drill hole Information	•    A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: •    easting and northing of the drill hole collar •    elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar •    dip and azimuth of the hole •    down hole length and interception depth •    hole length. •    If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	·      A tabulation of the collar details and significant intersections is contained in Appendix I. ·      Reports prepared by Greatland Pty Ltd are available to view on: www.greatlandgold.com
Data aggregation methods	•    In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. •    Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. •    The assumptions used for any reporting of metal equivalent values should be clearly stated.	•    Exploration results are reported by length weighted average.  •    Firetower - Significant intersections are reported as minimum length of 1m - greater than or equal to 0.2ppm Au with up to 4m of internal dilution and intervals greater than or equal to 0.5ppm Au with zero metres of internal dilution. •    Firetower East - 2019FTD009 intercepts reported as minimum length of 1m, greater than or equal to 500ppm Zn, with maximum internal dilution of 4m.
Relationship between mineralisation widths and intercept lengths	•    These relationships are particularly important in the reporting of Exploration Results. •    If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. •    If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known').	•    Down hole lengths are reported, true width is not known.
Diagrams	•    Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	•    Appropriate diagrams are available with this report.
Balanced reporting	•    Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	•    The company believes this announcement is a balanced report, and that all material information has been reported.
Other substantive exploration data	•    Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	•    Previous exploration results included in this announcement can be found on the company website: www.greatlandgold.com
Further work	•    The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). •    Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	•    Further results are awaited for the remaining  holes.  •    Planned further work includes geological and geochemical investigation of drill results with the aim of developing a 3D geological model of the project.

 

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