Results from First Drill Hole at Havieron

RNS Number : 6899H

Greatland Gold PLC

19 November 2018

 

19 November 2018

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

Greatland Gold plc

("Greatland" or "the Company")

Results from First Drill Hole of Current Campaign at Havieron

Greatland announces drill hole HAD005 intersects total mineralisation (combined intercepts) of

275m at 4.77g/t gold and 0.61% copper (275m at 5.75g/t gold equivalent*)

Two wide zones of mineralisation intersected: 

118m at 3.08g/t gold and 0.84% copper from 459m (118m at 4.42g/t gold equivalent*),

plus

157m at 6.04g/t gold and 0.44% copper from 660m (157m at 6.75g/t gold equivalent*).

Further to the announcement made on 1 October 2018, Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, is delighted to announce exceptional laboratory assay results from the Company's first drill hole (HAD005) of the current campaign at its 100% owned Havieron licence in the Paterson region of Western Australia.

Highlights of HAD005 Drill Results:

·    Total combined intercept of 275m at 4.77g/t gold and 0.61% copper returned from:

·    An upper zone of 118m at 3.08g/t gold and 0.84% copper from 459m to 577m, including:

o  11.5m at 6.23g/t gold and 2.49% copper from 462.5m; and

o  7.5m at 32.83g/t gold and 1.20% copper from 482m.

·    A lower zone of 157m at 6.04g/t gold and 0.44% copper from 660m to 817m, including:

o  113m at 8.30g/t gold and 0.61% copper from 663m;

o  5.5m at 16.62g/t gold and 0.91% copper from 663m; and

o  38m at 20.17g/t gold and 0.82% copper from 700m.

·    Upper and lower zones separated by an unmineralised mafic intrusion from 577m to 660m.

·    Results significantly extend the known high grade mineralisation established in the first drilling campaign and establish new peak grades for the mineralised system, including peak gold of 211.30g/t (previously 137.69g/t) and peak copper of 8.45% (previously 4.11%).

·    Multiple notable high-grade intervals in both upper and lower zones including:

o  0.5m at 64.1g/t gold and 5.38% copper from 464.5m, and

o  0.5m at 202.76g/t gold and 0.83% copper from 486.5m, and

o  0.5m at 211.3g/t gold and 3.56% copper from 487.5m, and

o  1m at 97.65g/t gold and 8.45% copper from 702m, and

o  4m at 103.82g/t gold and 0.86% copper from 713m.

*Gold equivalent values are calculated using a copper conversion factor of 1.5998 from a copper price of US$2.80/lb and a gold price of US$1,200/oz.

Gervaise Heddle, Chief Executive Officer, commented:  "We are thrilled by these truly spectacular results which further demonstrate the exceptional potential of Havieron. These stunning results represent a world class intersection as measured by total mineralisation in one drill hole in excess of 1,500 metre grams gold equivalent. Elevated gold and copper results persisted to end of hole suggesting the mineralisation continues at depth below the current limit of drilling, which is supported by the results from forward modelling of detailed geophysical data.

"The remarkable peak gold and copper grades of 211.3gt/t and 8.45% respectively are significantly higher than in previous drilling. Importantly, we have seen significant widths of copper well in excess of 0.5%.

"The results from HAD005 are just the first in our current campaign at Havieron and we look forward to updating shareholders on our continued progress."

Greatland's first drilling campaign at Havieron, carried out in April-May 2018, yielded excellent results, which included 121m at 2.93g/t gold and 0.23% copper from 497m, including 11.5m at 21.23g/t gold and 0.67% copper from 568.5m (HAD001), and 21m at 3.79g/t gold 0.44% copper from 418m (HAD003). The current drilling campaign at Havieron (Greatland's second drill campaign), which commenced on 17 September 2018, includes plans for up to a total of approximately 6,000 metres of drilling.

A regional map showing the Havieron licence area with regional targets and adjacent landholdings can be found at: http://greatlandgold.com/paterson/ 

Overview of Paterson Project, Havieron licence and HAD005 Drill Results

The Company's Paterson project, comprising the Havieron, Black Hills and Paterson Range East licences, is located in the Paterson region of northern Western Australia. The three licences collectively cover more than 385 square kilometres prospective for iron-oxide-copper-gold ("IOCG") type deposits and Telfer style gold deposits.

The Paterson region hosts several large gold and copper deposits such as Telfer and Nifty. The region has been subject to more recent exploration which has outlined several other deposits including Magnum (Au), Calibre (Au), O'Callaghans (W, Cu) and Maroochydore (Cu).

The region is remote, however infrastructure is good with several operating mines, roads, formed tracks and rail networks nearby which branch out from the regional industrial hub of Port Hedland 500km to the west.

The Paterson Province is the northern portion of the Proterozoic Paterson Orogen. More recent exploration throughout several Proterozoic Orogens within the western parts of the Australian continent has resulted in the discovery of the large Tropicana gold deposit and the large Nova nickel-copper deposit. Globally these Proterozoic Orogens are highly prospective for large deposits and are often under-explored.

Alteration and mineralisation of those targets which have been drill tested at Havieron and Paterson Range East display affinities with IOCG-type deposits. Examples of these are the large Olympic Dam and Ernest Henry deposits in central and eastern Australia.

Initial airborne data outlined the Havieron target as covering approximately 1,000m x 1,000m. Depth to top of target is around 400m with these depths easily achieved with modern drilling equipment. Historically only six drill holes were completed by Newcrest between 1991 and 2003, all of which intersected significant hematite alteration and gold, plus copper anomalism. Thick lower grade zones of gold and copper were intersected and gold grades within these peaked at 15.4g/t and copper to 2.5%. The drill hole spacing was broad and the core of Havieron therefore represented an immediate resource definition drilling target.

Following a review of regional geophysical and geochemical data over the Paterson project approximately 50 IOCG-like targets were identified in the broader region, with around half in ground held by Greatland. The setting of these licences is on the western margin of a Proterozoic basin which ranges in depth from less than 100m below surface to more than 400m below surface. Basement rocks of the basin are predominantly calcareous rich sandstones intruded by several late stage granitic bodies exploiting basin margin faults which have also provided a focus for ore fluids. Historically, several of these targets were subject to initial first-pass work and show promise at hosting mineralisation as seen at Havieron. The geophysical signature of these targets is very similar to that at Havieron. Basement rocks do not outcrop and Greatland intends to employ modern geophysical and geochemical methods to define targets prior to drill testing. The Scallywag target was identified from this regional review and hosts several magnetic anomalies over an area of approximately 6km x 4km with potential to host gold and/or copper mineralisation.

MMI sampling and ground gravity over the Havieron target was completed in late 2017 at an initial sample and station spacing of 200m x 200m. Additionally ground gravity was completed over the Scallywag target at a station spacing of 400m x 200m. Results of ground gravity and MMI work at Havieron has outlined several targets for a 2018 drill campaign with the peak gravity response not tested by existing drilling. Gravity confirms a NW structural trend of basement carbonate sediments which is mirrored by the surface MMI response. Clusters of elevated gold, silver, arsenic, copper and iron in MMI results are proximal the peak co-incident gravity and magnetic response. An elevated MMI response in pathfinder elements (cerium, lanthanum, uranium and lead) to the immediate SE of Havieron suggests primary basement mineralisation may be present along strike in a structural contact for up to 1.5 kilometres. Peak MMI responses over Havieron were 4ppb silver, 70ppb arsenic, 25ppb gold, 834ppb cerium, 710ppb copper, 53ppm iron, 284ppb lanthanum, 860ppb lead and 112 ppb uranium. Elevated pathfinder elements detected by the MMI survey support the view that Havieron is an IOCG-like system.

Forward modelling of detailed aeromagnetic data (50m line spacing and 40m mean terrain clearance) and detailed ground gravity data (100m x 100m and 100m x 200m station spacing) over the Havieron target was completed in February 2018 by independent geophysical consultants. Results of forward modelling defined a primary body approximately 600m x 600m across with a depth extent from 400m to 900m below surface resulting in a potential volume of more than 240,000,000 cubic metres and an estimated mass of more than 650,000,000 tonnes. A second smaller body with a volume of more than 16,000,000 cubic metres lies immediately adjacent to the primary body. Results of forward modelling are indicative only as geophysical data is ambiguous, however modelled bodies were constrained to known physical rock properties and therefore potentially represent the core of the mineralised system at Havieron. Forward modelling suggests that of the six historic drill holes completed at Havieron only two intersected the target. Those two holes intersected only the very top of the modelled mineralised system but returned over 100m of mineralisation (HAC9101) and over 50m of mineralisation (HAC9201) peaking at 15.4g/t gold and 2.5% copper within broad, lower grade intercepts.

In April and May of 2018, Greatland carried out its maiden drill campaign at the Havieron target completing four vertical core holes (HAD001-004) for a total of approximately 2,400m of drilling. Greatland's drill locations were designed to intersect the mineralised system at Havieron near to historical drill holes HAC9101 and HAC9201. Newcrest's historic drill holes HAC9101 and HAC9201 were vertical and drilled to depths of 533m and 528m respectively. Significant results were returned including 121m at 2.93g/t gold and 0.23% copper from 497m, including 11.5m at 21.23g/t gold and 0.67% copper from 568.5m (HAD001) and 21m @ 3.78g/t gold and 0.44% copper from 418m, including 1m at 29.12g/t gold and 0.4% copper from 428.5m (HAD003).

The company re-commenced drilling at Havieron in September 2018 (as announced 17 September 2018) with the intention of completing approximately 6,000m of drilling. The first hole of the new program (HAD005) was completed at the end of September to 821.2m and it was reported to market (1 Oct 2018) that approximately 239m of mineralisation was present, visibly similar to that intersected in HAD001.

HAD005 was sited 200m west of HAD001 and angled at 70 degrees toward grid east. The hole was designed to intersect the base of HAD001 and continue at depth.  HAD005 intersected recent desert sands and Permian siltstones and sandstones from surface to 459m before immediately entering the mineralised Proterozoic target sequence. From 459m to 577m (118m) mineralised brecciated calcareous limestone and sandstone with massive pyrite, chalcopyrite, pyrrhotite and quartz veining is present. From 577m to 660m (83m) an unmineralized mafic intrusion is observed. From 660m to 782m (122m) mineralised brecciated calcareous limestone and sandstone with sulphides (as per 459m to 577m above) continues, and from 782m to 821m (39m) laminated calcareous sandstone with sulphide mineralisation is present. Significant alteration within the mineralised zones is apparent. HAD005 end of hole was 821.2m.

Analytical results for HAD005 have been received and are reported here. Overall, an intercept of 275m at 4.77g/t gold and 0.61% copper was returned (1,581 metre grams gold equivalent*) from an upper zone of 118m at 3.08g/t gold and 0.84% copper from 459m, and a lower zone of 157m at 6.04g/t gold and 0.44% copper from 660m, separated by an apparently unmineralised mafic intrusion. Other intercepts include 7.5m at 32.83g/t gold and 1.20% copper from 482m, 0.5m at 211.30g/t gold and 3.56% copper from 487.5m, and 0.5m at 64.1g/t gold and 5.38% copper from 464.5m. Plus 38m at 20.17g/t gold and 0.82% copper from 700m, 4m at 103.82g/t gold and 0.86% copper from 713m, 1m at 97.65g/t gold and 8.45% copper from 702m, 1m at 138.74g/t gold and 1.24% copper from 714m, and 1m at 200.75g/t gold and 0.73% copper from 715m. All intercepts over 1g/t are presented in Table 1. Other metals are present in the mineralised system including silver to 211g/t, zinc to 5.9% and lead to 12%.

As in HAD001, elevated gold and copper results persisted to end of hole suggesting the mineralisation continues at depth below the current limit of drilling, which is supported by the results of forward modelling of detailed geophysical data. These results demonstrate the presence of very high grades of gold and copper at Havieron, and when considered in conjunction with geophysical models, the potential large scale of the mineralised system at Havieron is apparent.

Drilling is ongoing, and the Company will continue to review results in conjunction with detailed geophysical and geochemical data. Downhole wireline work is also being carried out to assist with geological interpretation and refinement of geophysical models.

Additional information on the Havieron, Black Hills and Paterson Range East licences can be found on the Company web site at www.greatlandgold.com/projects.

Competent Person: 

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) and under the AIM Rules - Note for Mining and Oil & Gas Companies. 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. 

Enquiries:

Greatland Gold PLC

Callum Baxter/Gervaise Heddle

Tel: [phone]

Email:  [e-mail]

www.greatlandgold.com

SPARK Advisory Partners Limited (Nominated Adviser)

Mark Brady/Andrew Emmott/James Keeshan

Tel: [phone]

SI Capital Limited (Broker)

Nick Emerson/Alan Gunn

Tel:  [phone]

Luther Pendragon (Media and Investor Relations)

Harry Chathli/Alexis Gore

Tel: [phone]

Notes for Editors:

Greatland Gold plc (AIM: GGP) is a London listed 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.

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.

Table 1 - HAD005 Significant Intercepts (+1g/t gold)

Hole ID	From (m)	To (m)	Interval (m)	Au (g/t)	Cu (%)
HAD005	462.5	463	0.5	11.23	0.63
HAD005	463	463.5	0.5	2.98	0.98
HAD005	463.5	464	0.5	2.27	10.42
HAD005	464.5	465	0.5	64.10	5.39
HAD005	465	465.5	0.5	3.26	0.61
HAD005	465.5	466	0.5	2.92	2.36
HAD005	466	466.5	0.5	1.89	1.84
HAD005	467.5	468	0.5	6.30	0.99
HAD005	468	468.5	0.5	19.65	1.76
HAD005	468.5	469	0.5	11.70	1.24
HAD005	469	469.5	0.5	4.94	8.53
HAD005	469.5	470	0.5	1.02	1.74
HAD005	470.5	471	0.5	1.62	4.05
HAD005	471	471.5	0.5	1.54	5.26
HAD005	473	473.5	0.5	1.35	1.29
HAD005	473.5	474	0.5	2.94	2.34
HAD005	482.5	483	0.5	4.23	1.34
HAD005	484	484.5	0.5	4.16	0.53
HAD005	484.5	485	0.5	3.73	0.87
HAD005	485	485.5	0.5	32.33	1.31
HAD005	485.5	486	0.5	8.61	4.15
HAD005	486	486.5	0.5	10.32	2.37
HAD005	486.5	487	0.5	202.76	0.83
HAD005	487.5	488	0.5	211.30	3.56
HAD005	489	489.5	0.5	11.78	0.49
HAD005	498	498.5	0.5	4.74	5.70
HAD005	502.5	503	0.5	1.77	4.28
HAD005	506.5	507	0.5	1.91	4.58
HAD005	507	507.5	0.5	1.30	0.73
HAD005	508.5	509	0.5	4.21	2.87
HAD005	509	509.5	0.5	1.47	2.26
HAD005	509.5	510	0.5	1.31	2.35
HAD005	510	510.5	0.5	1.59	5.63
HAD005	510.5	511	0.5	1.18	2.48
HAD005	513	513.5	0.5	1.59	2.54
HAD005	518.5	519	0.5	1.54	5.52
HAD005	519	519.5	0.5	1.93	3.37
HAD005	520	520.5	0.5	1.09	3.59
HAD005	521.5	522	0.5	1.47	1.29
HAD005	530	530.5	0.5	5.99	1.52
HAD005	530.5	531	0.5	1.30	2.38
HAD005	553	553.5	0.5	2.02	1.35
HAD005	553.5	554	0.5	2.03	0.32
HAD005	558.5	559	0.5	1.53	0.55
HAD005	575.5	576	0.5	1.13	0.26
HAD005	576	576.5	0.5	4.53	0.23
HAD005	663	663.5	0.5	3.40	2.17
HAD005	664	664.5	0.5	9.43	1.33
HAD005	665	665.5	0.5	139.65	1.53
HAD005	665.5	666	0.5	6.12	0.67
HAD005	666	666.5	0.5	15.67	0.78
HAD005	666.5	667	0.5	3.77	1.13
HAD005	667	667.5	0.5	1.36	0.20
HAD005	667.5	668	0.5	1.11	0.98
HAD005	668	668.5	0.5	1.77	0.71
HAD005	674	675	1	12.02	0.49
HAD005	679	680	1	1.59	0.13
HAD005	680	681	1	1.48	0.21
HAD005	683	684	1	2.90	0.37
HAD005	684	685	1	12.52	0.19
HAD005	685	686	1	2.05	0.20
HAD005	687	688	1	1.87	0.11
HAD005	688	689	1	1.60	0.56
HAD005	689	690	1	8.25	1.18
HAD005	694	695	1	11.69	0.20
HAD005	700	701	1	7.39	0.60
HAD005	701	702	1	3.24	0.79
HAD005	702	703	1	97.65	8.45
HAD005	703	704	1	39.44	0.24
HAD005	704	705	1	26.68	1.02
HAD005	705	706	1	3.74	0.70
HAD005	708.5	709	0.5	6.30	8.45
HAD005	709	710	1	11.40	0.35
HAD005	710	711	1	4.37	0.50
HAD005	711	712	1	3.30	0.70
HAD005	712	713	1	7.48	0.62
HAD005	713	714	1	53.16	0.94
HAD005	714	715	1	138.74	1.24
HAD005	715	716	1	200.75	0.73
HAD005	716	717	1	22.61	0.54
HAD005	717	718	1	7.07	0.86
HAD005	718	719	1	5.41	0.25
HAD005	720	721	1	1.36	1.41
HAD005	721	722	1	8.67	1.16
HAD005	722	722.5	0.5	5.35	0.52
HAD005	722.5	723	0.5	3.26	0.57
HAD005	725	726	1	2.49	0.24
HAD005	726.5	727	0.5	3.48	0.34
HAD005	727	727.5	0.5	1.72	0.14
HAD005	727.5	728	0.5	8.49	0.22
HAD005	728	728.5	0.5	37.15	0.30
HAD005	728.5	729	0.5	5.23	0.29
HAD005	729	730	1	33.22	1.81
HAD005	730	731	1	30.36	0.33
HAD005	731	732	1	6.30	0.05
HAD005	732	733	1	1.63	0.10
HAD005	735	736	1	4.64	0.45
HAD005	736	737	1	2.36	0.40
HAD005	737	738	1	3.62	0.25
HAD005	743	744	1	1.16	0.45
HAD005	765	766	1	1.15	0.51
HAD005	771	772	1	2.15	0.37
HAD005	778	779	1	1.21	0.01
HAD005	787	788	1	2.59	0.02
HAD005	807	808	1	1.23	0.01

 

END

 

 

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