Greatland begins drilling programme at Warrentinna

RNS Number : 9487S

Greatland Gold PLC

11 November 2019

 

11 November 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")

Greatland commences new drilling programme at Warrentinna

 

Targeted, low-cost diamond drilling programme at Derby North prospect to provide additional geological data and assist with potential project divestment

Greatland Gold plc (AIM: GGP), the precious and base metals exploration and development company, is pleased to announce the commencement of diamond drilling activities at the Derby North prospect within the Company's 100% owned Warrentinna gold project in Tasmania, Australia.

The Warrentinna project hosts many known gold occurrences including the Derby North prospect. Greatland has previously conducted limited Reverse Circulation ("RC") drilling at the Derby North prospect which returned results including 1m @ 103.25g/t gold, 12m @ 3.05g/t gold and 24m @ 2.6g/t gold. RC drilling to date at Derby North has outlined a gold mineralised system approximately 150 metres long and 100 metres wide which is open, particularly to the north and east, and at depth. Mineralisation is from surface and all holes drilled to date have generally only penetrated to 100m below surface. The new drilling programme announced today is the Company's first diamond drilling programme at Derby North and details are provided below.

Highlights of New Drilling Programme

·    Two diamond holes will 'twin' two historic RC drill holes at the Derby North prospect to a depth of approximately 125 metres each (for a total of 250 metres of drilling). 

·    Drill core and data collected from the diamond holes will be used to determine if similarities exist between the style of mineralisation at Derby North and the Orogenic-type gold occurrences in central Victoria.

·    It is expected that the data collected from the programme, including drill core, continuous XRF data and ultra-high resolution photography, will significantly enhance the existing data set.

·    The enhanced data will help to evaluate the project's potential and assist with the potential divestment of the project, in line with our previously stated strategy to seek to divest non-core projects and focus on those assets which present the opportunity to deliver significant shareholder value in the medium term.

Gervaise Heddle, Chief Executive Officer, commented: "We are pleased to have commenced a targeted, low-cost drilling programme at Warrentinna which aims to provide us with valuable information regarding the style of mineralisation and will assist in evaluating the potential of the project. In particular, the drill core and associated data will be assessed to determine whether the style of mineralisation at Warrentinna is similar to that seen in the central Victorian goldfields, a world-class gold province."

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 Warrentinna Project, Tasmania

The Warrentinna project is located in north-east Tasmania and covers an area of approximately 37 square kilometres of Mathinna Group rocks which comprise metamorphosed sandstones, siltstones and mudstones of Ordovician to Silurian age. The Mathinna Group metasediments, together with intrusive Devonian granites, cover much of the north-eastern parts of Tasmania and are considered equivalent to rocks of the Melbourne Trough which host the bulk of Victoria's Orogenic-type gold mineralisation. Examples of these types of deposits are Fosterville and Bendigo. Greatland is targeting this style gold mineralisation.

The Warrentinna project hosts many known gold occurrences including the Derby North prospect. Gold mineralisation at Derby North was located through surface rock chip sampling by Greatland and subsequent RC drilling by the Company has returned results including 1m @ 103.25g/t from 37m (WTR013), 12m @ 3.05g/t Au from 82m (WTR026) and 24m @ 2.60g/t Au from 6m (WTR028).

RC drilling to date at Derby North has outlined a gold mineralised system approximately 150m long and 100m wide which is open, particularly to the north and east, and at depth. The overall mineralised system is interpreted to trend approximately north-south and higher gold grades appear coincident with quartz veins and disseminated sulphides. Orientation of quartz veins and sulphide mineralisation is likely to be structurally controlled. Mineralisation is from surface and all holes drilled to date have generally only penetrated to 100m below surface.

Diamond Drilling at Derby North Prospect

Greatland has commenced a diamond core drilling programme at the Derby North prospect within the Warrentinna project. Greatland has previously conducted RC drilling at the prospect, but this is the first time the Company has undertaken a diamond drilling programme. Greatland plans to 'twin' two historic RC drill holes with two diamond holes, each to a depth of approximately 125m (two holes for 250m). It is expected that the drill core and associated data collected will greatly improve the Company's understanding of the mineralised system, including rock type identification, lithological variations, and potential structural controls. The drilling will also validate previous gold intercepts in nearby RC drill holes.

Continuous XRF scanning, structural data capture, and ultra-high resolution photography will be undertaken on all drill core along with a suite of multi-element geochemistry to highlight chemical signatures associated with gold mineralisation and alteration. An evaluation of results will be completed to assess the project's potential, referencing Orogenic-type gold occurrences in central Victoria which include the Fosterville and Bendigo gold deposits. 

Additional information on the project can be found on the Company's web site at https://greatlandgold.com/warrentinna/

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

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 or 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 the Warrentinna project can be found at:

www.greatlandgold.com/warrentinna/

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.

Reported Intercept Collar Details

Hole ID	East	North	Elevation	From	To	Interval (m)	Au (g/t)
WTR013	561712	5447532	240	37	38	1	103.25
WTR026	561739	5447532	241	82	94	12	3.05
WTR028	561724	5447553	236	6	30	24	2.60

*coordinate system - MGA94 Zone 55

JORC Code 2012: Table 1

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.	RC Sampling ·    RC sampling was carried out using Greatland internal protocols and QAQC procedures. ·    One metre samples were collected from the cyclone into a plastic bucket and laid out generally in rows of 50. ·    RC samples were composited to 4m lengths via 'spear' sampling the individual 1m intervals.  Samples were then taken to the laboratory and pulverised. ·    This announcement does not include any previously unreported drill results.
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).	RC Drilling ·    Drilling was undertaken using a track mounted RC drill rig.  ·     RC Drill holes - 134mm face sampling RC bit 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.	RC Sampling ·    RC sample recovery and quality was recorded via visual estimation of sample volume and the condition of drill spoils.  ·    Recovery ranges from 90-100%, with only occasional recoveries of less than 70%.  Sample recovery was maximized by maintaining dry samples (dry drilling conditions) as much as possible. ·     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 RC drill samples were geologically logged for lithology, mineralogy, alteration, veining and sulphide occurrences.  This logging includes both qualitative and quantitative components. ·    Samples were logged at 1m intervals.
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.	·    One metre samples were collected from the cyclone into a plastic bucket and laid out generally in rows of 50. ·    RC samples were composited to 4m lengths via 'spear' sampling the individual 1m intervals.  ·    RC sample preparation was completed at Genalysis  Laboratory in Adelaide using industry standard procedures (dry, crush and pulverise for  85% at 75µm).  This sample is then split into sub-samples for analysis. ·    The sample sizes are considered appropriate for the style of mineralisation encountered in the region.
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.	Analytical Techniques ·    All samples were dried, crushed and pulverised to produce suitable sub-samples for Au analysis (via Fire Assay).  ·    Au analysis - 50g Fire Assay/AAS (detection limit of 0.005ppm). ·    No geophysical tools were used for any element concentrations in this report. ·    No field QC samples were used for this drill program.
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 company personnel. ·     No twin holes have been drilled. ·    Primary data documentation via Greatland internal protocols.  Data validation carried out via Greatland's database managers. ·    No adjustments have been made to any assay data.
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 GPS (accuracy of ± 5m). ·     All coordinates are in MGA94 Zone55. ·     RL is measured using a handheld GPS. ·     Inclined RC drill holes are checked for drill rig set-up azimuth using a Suunto Sighting compass. ·     Inclination of drill holes is set by the driller using a clinometer on the mast of the drill rig.
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.	·     Downhole 4m composite samples. ·     Mineralised intersections then re-assayed as 1m samples. ·     Data spacing is not sufficient for the reporting of Mineral Resources.
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.	·     Strike of local geology not readily understood.    ·     No relationship is known between key mineralizing structures and the orientation of drilling.
Sample security	•    The measures taken to ensure sample security.	·     Sample security is managed by Greatland internal protocols.  Samples are taken from site by Greatland or their representatives, and transported to the laboratory in Adelaide.
Audits or reviews	•    The results of any audits or reviews of sampling techniques and data.	·     No reviews are considered required 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 Warrentinna Project is located wholly within the following Exploration Licence: ·     EL30/2004 (granted) ·     Greatland Pty Ltd holds a 100% interest in EL30/2004 ·     The tenements are in 'good standing' with Mineral Resources Tasmania. ·     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 Warrentinna Project has involved the following companies: ·     Herald Resources Ltd.
Geology	•    Deposit type, geological setting and style of mineralisation.	·    Orogenic Gold Deposit, turbidite hosted, structurally controlled, Ordovician - Silurian aged lithologies.
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.	·     Reports prepared by Greatland Pty Ltd on the Warrentinna project are available to view on: www.greatlandgold.com ·     Other information regarding the exploration area can be found in historic exploration reports, available from Department of Mineral Resources Tasmania (MRT) .
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.	•    Aggregated intervals have been length weighted.
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').	•    The geometry of mineralisation with respect to drill hole orientation is not known. •    Intervals are down hole lengths, true widths 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 at www.greatlandgold.com/warrentinna/
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 work planned includes an evaluation of results with orogenic gold occurrences in central Victoria. Project review to determine next stage of exploration activities.

 

END

 

 

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