Results of drilling at Ernest Giles

Greatland Gold PLC

08 February 2024

 

Greatland Gold plc (AIM: GGP)

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NEWS RELEASE | 8 February 2024

Results of drilling at Ernest Giles

Anomalous gold mineralisation and pathfinder geochemistry confirmed and geological model refined at Meadows Prospect

Greatland Gold plc (AIM:GGP) (Greatland or the Company) is pleased to advise that the WA Government Exploration Incentive Scheme (EIS) co-funded drilling program has been successfully completed and all assays returned at the Meadows gold prospect within the Company's 100% owned Ernest Giles project (Ernest Giles).

Highlights

§ Two diamond core (DD) holes completed for 1,267.7m

§ Anomalous mineralisation of 8m @ 0.12g/t Au from 316m returned from EGD006, associated with alteration and anomalous pathfinder geochemistry.

§ Drilling results provide important geological and structural information to inform a systematic reverse circulation drill program planned for this year to systematically test highly prospective targets at Meadows prospect.

§ Ground induced polarization (IP) survey planned for later in 2024 to further refine targets, along with further airborne geophysics.

Greatland Managing Director, Shaun Day, commented:

"Completing the Land Access Agreement and EIS co-funded drilling at Ernest Giles is a significant milestone for the project, marking the first on-ground exploration in over five years."

"Ernest Giles is an exciting 100% owned project that sits outside our strong foothold in the Paterson region, in an underexplored Archean greenstone belt that hosts many Tier 1 deposits."

"These initial results are encouraging and confirm the prospectivity of the project. The results will inform further exploration work, including a more extensive drilling program this year."

Completed drilling program

The two completed EIS co-funded diamond core drill holes EGD005 & EGD006 provided the first angled diamond holes and oriented core at Meadows, critical for improving the geological understanding of the project and guiding future targeting.

Figure 1: EIS drilling at Meadows with interpreted geology on airborne magnetics

Drilling confirmed that gold anomalism is hosted within altered basalts, banded iron formation (BIF) and syenite (Figure 1).  The mineralised zone of 8m @ 0.12g/t Au from 316m in EGD006 is associated with thin quartz - carbonate veinlets in silica-sericite-chlorite and albite alteration in the basalt host (Figure 2).  Hematite alteration was also observed.  The syenite intersected in EGD005 shows gold is associated with disseminated pyrite with silica-sericite, albite and hematite alteration and quartz-carbonate veining.

Figure 2: EGD006 320-324m Mineralised intercept, with silica-sericite-chlorite alteration and veining

The results indicate an encouraging broad, weak (Au-Ag-Cu-Zn) mineralisation. This could be the edge of a larger system. The anomalism is geologically controlled by generally east-dipping vein sets and vein-associated alteration.  A correlation was noted between the weak gold-silver mineralised intercepts, geochemically anomalous, low order bismuth (Bi) values and the chlorite-carbonate alteration zones.  The peak Cu value of 1,178ppm from 390.2m in EGD006 was in a highly sulphidic altered BIF unit. These associations can be used to better target further drilling.

Further work

A follow up RC drilling program is being designed for H2 2024, utilising the information gained from the recently completed drilling, and historical drilling results, to systematically test highly prospective geological targets in the Meadows prospect, with a focus on mineralised fluid pathway elements and an in-depth review of the alteration across the prospective folded BIF system in the South Meadows target area.

A detailed ground induced polarization (IP) survey is being planned for later in 2024 to refine the targeting approach. The target shear hosted Archean gold systems regularly have an associated alteration system that includes disseminated sulphides. The IP survey involves a number of electrical receivers at surface recording the response created by a generator transmitting electrical current into the ground.  This electrical charge accumulates on the surface of the individual sulphide grains, and when the generator is turned off the sulphides slowly discharge (similar to a battery) and the receivers at surface record this signal. The more and finer grained sulphides in the alteration system, the stronger the signal received at surface.

The IP survey allows rapid cost effective identification of sulphide haloes around orebodies.  Additional ongoing work will also include airborne geophysics to better understand the geology of the entire Ernest Giles belt. 

Overview of the Ernest Giles project

The Ernest Giles project is located approximately 250km north-east of the town of Laverton and covers a folded belt of magnetic greenstone rocks (Figure 3) which is typical of the highly gold and nickel endowed parts of the Archean Goldfields of Western Australia. The Goldfields host large gold camps such as Kalgoorlie, St Ives, Leonora, Laverton, Mt Magnet, Jundee, Gruyere and Tropicana. The prospective greenstone sequence at Ernest Giles does not outcrop and, as a consequence, is underexplored relative to the remainder of the Goldfields.

Greatland's granted and under-application tenure at Ernest Giles comprises a comprehensive holding over what Greatland considers are the most prospective near surface portions of the Ernest Giles belt, covering more than 1,950km².

Figure 3: Laverton, Yamarna and Ernest Giles greenstone belts

Contact

For further information, please contact:

Greatland Gold plc

Shaun Day, Managing Director  |  [e-mail]

Nominated Advisor

SPARK Advisory Partners

Andrew Emmott / James Keeshan / Neil Baldwin  |  [phone]

Corporate Brokers

Berenberg  |  Matthew Armitt / Jennifer Lee  |  [phone]

Canaccord Genuity  |  James Asensio / George Grainger |  [phone]

SI Capital Limited  |  Nick Emerson / Sam Lomanto  |  [phone]

Media Relations

UK - Gracechurch Group  | Harry Chathli / Alexis Gore / Henry Gamble  |  [phone]

Australia - Fivemark Partners  |  Michael Vaughan  |  [phone]

About Greatland

Greatland is a mining development and exploration company focused primarily on precious and base metals. 

The Company's flagship asset is the world-class Havieron gold-copper project in the Paterson Province of Western Australia, discovered by Greatland and presently under development in joint venture with world gold major, Newmont Corporation.

Havieron is located approximately 45km east of Newmont's existing Telfer gold mine. The box cut and decline to the Havieron orebody commenced in February 2021. Total development now exceeds 3,060m including over 2,110m of advance in the main access decline (as at 31 December 2023).  Subject to a positive feasibility study and Decision to Mine, Havieron is intended to leverage the existing Telfer infrastructure and processing plant.  Access to Telfer would de-risk the development and reduces capital expenditure.

Greatland has a proven track record of discovery and exploration success and is pursuing the next generation of tier-one mineral deposits by applying advanced exploration techniques in under-explored regions. Greatland has a number of exploration projects across Western Australia and in parallel to the development of Havieron is focused on becoming a multi-commodity miner of significant scale.

Competent Persons Statement

Information in this announcement pertaining to Reporting of Exploration Results has been reviewed and approved by Mr Damien Stephens, a Member of the AusIMM, who has more than 30 years relevant industry experience.  Mr Stephens is a full-time employee of the Company and has a financial interest in Greatland.  Mr Stephens has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking 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 and Gas Companies, which outline standards of disclosure for mineral projects.  Mr Stephens consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.  Mr Stephens confirms that the Company is not aware of any new information or data that materially affects the information included in the historical market announcements, and that the form and context in which the information has been presented has not been materially modified.

Appendix 1: 2023 Drilling at Ernest Giles

Table 1: Anomalous results from EIS Co-funded Greatland Drilling 2023

Hole ID	From	To	Element	Grade (ppm)	Meters	Intercept
EGD005	307	308	Au	0.20	1	1m @ 0.20ppm Au
	326	327	Au	0.13	1	1m @ 0.13ppm Au
	355	356	Au	0.14	1	1m @ 0.14ppm Au
	365	366	Au	0.15	1	1m @ 0.15ppm Au
	423	424	Au	0.17	1	1m @ 0.17ppm Au
EGD006	316	324	Au	0.12	8	8m @ 0.12ppm Au
	374	375	Au	0.17	1	1m @ 0.17ppm Au
	390.2	391.3	Cu	1178	1.1	1.1m @ 0.12% Cu

Note: intercepts were calculated using a 0.1ppm Au cut off, minimum interval of 1m and maximum internal waste of 3m.

Table 2: 2023 Drilled Holes at Ernest Giles

Hole	Type	East	North	RL AHD	Grid	Depth	Dip	Drilled
EGD005	DD	602280	7017800	458	MGA20_51	567.7	-60	255
EGD006	DD	599912	7017747	458	MGA20_51	700.0	-55	255

Appendix 2: JORC Table 1

Section 1 Ernest Giles Project: Sampling Techniques and Data

Criteria	JORC Code Explanation	Commentary
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) § 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	§  Diamond drilling (Greatland 2023 Drilling) -  Holes were collared and drilled with the mud rotary technique to estimated near basement of Permian cover. -  In Archean and Proterozoic basement, quarter core was sampled on a single metre basis, modified by geological boundaries as decided by the geologist. -  The entire sample was crushed and pulverized to provide a 50g charge for fire assay for gold and 48 element 4 acid digest ICP-MS analysis.
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 -  A diamond core drilling rig was used to complete angled holes. -  A combination of HQ and NQ2 core size was used. -  Core was orientated every 3-6m run or as practicable, using the ACT3 tool
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	§ Recovery is measured on core and reconciled against driller's depth blocks in each core tray. Basement core recovery is typically around 100% § No specific measures have been taken to maximise recovery, other than employing skilled drillers § No relationship between recovery and grade has been observed
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.	§ The logging comprises a combination of quantitative and qualitative features. The entire hole is logged. § Geological logging recorded qualitative descriptions of lithology, alteration, mineralisation, veining, and structure of key geological features. § Digital data was recorded on site and stored in an SQL database. § pXRF and mag susc measurements were taken of every metre of core in the targeted basement Archaean lithologies.
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 samples were freighted by road to the laboratory. § All core is cut with an automatic core saw, and quarter core samples sent to the laboratory for assay. § All drill samples were sent to Intertek Laboratories in Kalgoorlie for sample prep and to Perth for analysis. § As part of the terms of the EIS co-funding arrangement, the preserved half core is sent to the DEMIRS Core Library for permanent storage and later XRF scanning. § The sample sizes (0.5-3kg) are considered appropriate for the material being sampled.
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.	§ The drill samples were assayed for Au by a 50g fire assay and multi-element scan using 4 acid digest and MS and OES finish for pathfinder and lithogeochemical elements. The assays are considered total rather than partial § Blanks and CRMs were inserted roughly every 25 samples in diamond core. § laboratories in- house QA/QC methods include duplicates , standard and blank assays for each batch. § Analysis of the quality control sample assay results indicates that an acceptable level of accuracy and precision has been achieved. § Comparison of the original laboratory files and the database plus database logs indicates no analytical data has been numerically manipulated.
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.	§ No twinned holes have been completed § All data entry procedures, including original logging, sample depth selection for sampling and recording of sample numbers are recorded digitally in an electronic database § There are no adjustments to assay data, other than below detection samples are reported at negative one half the detection limit.
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	§ Drill collar and surface sample locations were surveyed using hand held GPS. RL's were collected with the same GPS § Holes were aligned by compass mark out and field checking by the geologist § Downhole survey was by AXIS gyro tool every 30m downhole as drilling progressed § The topography is generally low relief to flat, elevation within the dune corridors in ranges between 250-265m AHD steepening to the southeast § All coordinates are provided in the Geocentric Datum of Australian (MGA2020 Zone 51). All relative depth information is reported in Australian Height Datum (AHD)
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	Diamond drilling was designed to test stratigraphy and follow up previous Au anomalism in vertical RC holes, testing geochemical and geophysical anomalies. The drill data spacing is not sufficient for calculation of a mineral resource or reserve and none is reported.
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	§ Drilling was angled at 55 - 60o into what are expected to be dominantly vertical stratigraphy.
Sample security	§ The measures taken to ensure sample security	The security of samples is controlled by tracking samples from drill rig to database
Audits or reviews	§ The results of any audits or reviews of sampling techniques and data	§ No audits or reviews have been completed

Section 2  Ernest Giles Project: Reporting of Exploration Results     

Criteria	JORC Code explanation	Commentary
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 Ernest Giles tenements E38/3185 and E38/2205 are 100% owned by Greatland Pty Ltd Land Access Agreements were negotiated with the native title holders and claimants for the tenements in use for the drilling program.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties	CRA initially carried out an aeromagnetic survey in the mid 90's. WMC after reviewing the geophysics interpreted the area as containing Archean greenstones, and completed regional soils and gravity surveys along with 200m spaced aeromagnetic and 8 RC holes (ENGC01-8) over what is now the Meadows prospect, identifying anomalous gold between 1996 and 1999. MRG metal completed further aeromagnetics and 3 diamond holes  (EY4001-EY4003) in the region from 2011 to 2015.
Geology	Deposit type, geological setting and style of mineralisation	Exploration is for Yilgarn style Archean lode gold deposits.
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	Drill hole collar details are listed in Appendix 1 (Table 2) and anomalous results in Appendix 1 (Table 1).
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	No economically significant results have been reported, and no data aggregation methods have been applied Where anomalous results are quoted (Appendix 1, Table 1) the samples have been selected as follows: Au >0.1ppm with a maximum consecutive internal waste of 3m
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')	No economically significant results are reported, and there is no known relationship between reported widths and the geometry of any mineralisation. All intercepts are reported downhole as 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	Maps are provided in Figures 1 &2. No significant discovery is reported.
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 reporting is considered balanced
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	No other substantive exploration data other than that provided in the figures
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	Systematic .infill of anomalous RC and diamond drilling and ground geophysics programs are planned for the Meadows prospect

 

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