Results from drilling at Warrentinna

RNS Number : 3313M

Greatland Gold PLC

19 January 2016

 

19 January 2016

Greatland Gold plc

("Greatland" or "the Company")

Results from drilling at Warrentinna Gold Project

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

Key points

·     3 drill holes for 300 metres completed

·     Highest grade of 3.72g/t gold

·     Mineralisation shows good continuity between holes

Callum Baxter, CEO, commented: "Drilling at Warrentinna has again provided further gold mineralisation at the Derby North prospect. Grades of up to 3.7g/t gold have been returned and broad zones of lower grade mineralisation are apparent which add to the overall prospectivity of the area."

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.

We have completed a Reverse Circulation (RC) drilling campaign and results have been received. The programme comprised three holes for a total of 300m. One hole was drilled at the Derby North prospect and the two others at other areas approximately 600m south and 400m north. All results for these holes have been received.

The maximum result was 1m at 3.72g/t gold from 112m in hole WTR034 in a total intercept of 3m at 2.70g/t gold from 111m. Other intercepts in WTR034 include 1m at 1.14g/t from 78m, 1m at 1.17g/t from 105m and 1m at 3.02g/t from 111m. All significant results are presented in Appendix I.

The gold intersected in WTR034 is down dip from mineralisation intersected in previously drilled holes WTR032 and WTR028. Mineralisation shows good continuity between the drill holes. Grades in WTR032 peak at 1m at 5.45g/t from 95m in a broader intercept of 10m at 2.28g/t from 90m. While grades in WTR028 peak at 19.77g/t from 71m in an overall intercept of 2m at 13.71g/t from 70m.

Gold mineralisation at Derby North is coincident with quartz vein structures and disseminated sulphides. Drilling to date covers a strike length of 150m and has established a 100m wide, north-south trending, zone of gold mineralisation within which quartz reefs occur with higher grade gold.

The two other holes which were drilled at other areas did not return significant intercepts.

Further work at Derby North will include a thorough review of the current results and progress toward an initial resource calculation for the prospect.

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.

The Company is continuing to work toward securing all relevant approvals for drilling. We aim to have these in place during Q1 2016.

 

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.

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.

Appendix I - RC Drill Results (>0.23g/t gold)

Hole ID	From (m)	To (m)	Interval (m)	Gold (g/t)
WTR034	78	79	1	1.14
WTR034	83	84	1	0.56
WTR034	98	99	1	0.73
WTR034	99	100	1	0.29
WTR034	100	101	1	0.31
WTR034	101	102	1	0.27
WTR034	102	103	1	0.52
WTR034	103	104	1	1.15
WTR034	104	105	1	0.43
WTR034	105	106	1	1.17
WTR034	111	112	1	3.02
WTR034	112	113	1	3.72
WTR034	113	114	1	1.34
WTR034	114	115	1	0.23
WTR034	115	116	1	0.25
WTR034	116	117	1	0.28

 

END

 

 

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