Warrentinna Drilling Results

RNS Number : 8927B

Greatland Gold PLC

04 February 2020

 

4 February 2020

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

Greatland Gold plc

("Greatland" or "the Company")

Warrentinna Drilling Intersects High-Grade Gold Mineralisation

 

Targeted, low-cost diamond drilling programme at Derby North prospect returns high-grade gold intercepts, including 21.7m @ 3.3g/t Au from 9.3m

Greatland Gold plc (AIM: GGP), the precious and base metals exploration and development company, is pleased to announce that it has intersected high-grade gold mineralisation from its maiden diamond drilling programme at Derby North, a prospect within the Company's 100% owned Warrentinna project in Tasmania, Australia.

Greatland previously conducted limited Reverse Circulation ("RC") drilling at Derby North, which outlined a gold mineralised system approximately 150m long and 100m wide, open to the north, east and at depth. The Company has now completed its maiden diamond drilling programme at the prospect with three diamond holes for a total of 285m of drilling. This targeted drilling campaign was designed to provide a better understanding of the host rocks, type and tenor of gold mineralisation, and highlight any structural controls. Laboratory assay results have now been received and are announced today.

Highlights of Drill Results

·    Maiden diamond drill programme at Derby North prospect intersects high-grade gold mineralisation and increases depth extent of known mineralisation.

·    Best results include:

o  21.7m @ 3.3g/t Au from 9.3m (2019WTD001), including

§ 2.2m @ 12g/t Au from 10.8m

o  11.7m @ 2.8g/t Au from 115m (2019WTD002) - a new zone of gold mineralisation beneath previous drilling

o  43m @ 1.5g/t Au from 10m (2019WTD003)

·    Results and data collected from the drilling programme are expected to assist with potential divestment of the project, in line with the Company's strategy to seek to divest non-core projects.

Gervaise Heddle, Chief Executive Officer, commented: "These positive results from our maiden diamond drilling campaign at Warrentinna further increase the depth extent of the known mineralised zone and clearly demonstrate the potential for a significant gold mineralised system at Derby North.

"The drill core and associated data collected has greatly improved the Company's understanding of the mineralised system and should assist with any potential divestment of the project. Our immediate next step is to complete an evaluation of the results to assess the project's potential, referencing Orogenic-type gold occurrences in central Victoria which include the Fosterville and Bendigo gold deposits."

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

Table 1. Significant intercepts from Derby North, diamond drilling programme.

Hole ID	From	To	Interval	Au g/t
2019WTD001	9.3	31	21.7	3.3
incl	10.8	13	2.2	12
incl	15	19.8	4.8	3.8
2019WTD002	79	91.65	12.65	1.5
incl	80.4	81.7	1.3	4.4
2019WTD002	98	108	10	2.0
incl	102	105.5	3.5	4.4
2019WTD002	115	126.7	11.7	2.8
incl	116	117.5	1.5	3.5
incl	121.5	125.5	4	4.7
2019WTD003	10	53	43	1.5
incl	31.8	34.3	2.5	5.1
incl	35	38.7	3.7	3.5
incl	49	50.5	1.5	4.8

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 1ppm Au with zero metres of internal dilution. Au is reported to two significant figures.

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.

Diamond Drilling at Derby North Prospect

Greatland completed three diamond core holes for a total of 285m at the Derby North prospect within the Warrentinna project. Greatland previously conducted shallow RC drilling at the prospect, but this is the first time the Company has undertaken a diamond drilling programme. The diamond holes 'twinned' two historic RC drill holes that had intersected significant high-grade gold mineralisation (see announcement dated 11 November 2019).  The diamond holes were completed to gain a better understanding of the host rocks, type and tenor of gold mineralisation, and highlight any structural controls.

The drill programme successfully achieved its aims by confirming the presence of significant widths and grades of gold mineralisation previously seen in RC drilling. Drill Hole 2019WTD001 intersected the targeted shallow mineralised zone returning 21.7m at 3.3g/t Au from 9.3m, including high grade zones such as 2.2m at 12g/t Au from 10.8m and peak intercept grade for the drill programme of 0.5m at 15g/t Au from 17m. This hole did not reach target depth due to hole conditions. 2019WTD003 was a step back hole that drilled under 2019WTD001 and intersected a very broad near-surface zone of gold mineralisation returning 43m at 1.5g/t Au including a higher grade zone of 2.5m at 5.1g/t Au from 31.8m. Drill hole 2019WTD002 was collared approximately 25m to the south of 2019WTD001, and intersected the two targeted deeper mineralised zones returning 12.65m at 1.5g/t Au from 79m and 10m at 2.0g/t Au from 98m, respectively. Significantly, the bottom of hole 2019WTD002 intersected a new zone of gold mineralisation, beneath previous drilling, returning 11.7m at 2.8g/t from 115m including higher grade zones of 4m at 4.7g/t Au with a peak intercept grade of 0.5m at 10g/t Au from 122m.

The drill core and associated data collected has greatly improved the Company's understanding of the mineralised system, including rock type identification, lithological variations, and potential structural controls. Mineralised zones present as quartz stock working and veins in fine grained siltstone rocks. The results reported today have further increased the depth extent of the known mineralised zone and clearly demonstrate the potential for a significant gold mineralised system at Derby North which warrants further exploration efforts. 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. Results and data collected from the maiden diamond drilling programme are expected to assist with potential divestment of the project.

Additional drill hole information and tabulated drill hole intercepts are presented in Appendix I and 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 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 exploration results has been extracted from the following announcements:

"Greatland begins drilling programme at Warrentinna", dated 11 November 2019

Additional information on the Warrentinna project can be found on the Company's 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 earn 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 - Warrentinna Project

Derby North Historic RC Drilling - Intercept and Collar Locations (MGA94 Z55)

Hole ID	Prospect	Easting	Northing	RL	From	To	Interval (m)	Au (g/t)
WTR013	Derby North	561712	5447532	240	37	38	1	103
WTR026	Derby North	561739	5447532	241	82	94	12	3.1
WTR028	Derby North	561724	5447553	236	6	30	24	2.6

Derby North 2019 Diamond Drilling - Collar Locations (MGA94 Z55)

Hole ID	Prospect	Easting	Northing	RL	Hole Depth	Azimuth	Dip
2019WTD001	Derby North	561726	5447557	236	32	90	-60
2019WTD002	Derby North	561733	5447533	240.7	126	90	-60
2019WTD003	Derby North	561718	5447555	236	127	90	-60

Derby North 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 1ppm Au with zero metres of internal dilution. Au is reported to two significant figures.

Hole ID	From	To	Interval	Au g/t
2019WTD001	9.3	31	21.7	3.3
incl	10.8	13	2.2	12
incl	13.2	14.5	1.3	8.5
incl	15	19.8	4.8	3.8
incl	22.5	25.5	3	1.5
Incl	26	27	1	1.9
2019WTD002	9.5	12.5	3	0.64
2019WTD002	15.5	17.5	2	0.21
2019WTD002	25	27	2	0.22
2019WTD002	36	37.7	1.7	0.52
2019WTD002	62	73.5	11.5	0.61
2019WTD002	79	91.65	12.65	1.5
incl	80.4	81.7	1.3	4.4
incl	86.5	90.5	4	2.1
2019WTD002	98	108	10	2.0
incl	102	105.5	3.5	4.4
incl	107	108	1	2.7
2019WTD002	115	126.7	11.7	2.8
incl	116	117.5	1.5	3.5
incl	118	120	2	3.0
incl	121.5	125.5	4	4.7
2019WTD003	10	53	43	1.5
incl	31.8	34.3	2.5	5.1
incl	35	38.7	3.7	3.5
incl	49	50.5	1.5	4.8
2019WTD003	61	62	1	0.74
2019WTD003	79.9	84	4.1	0.49
2019WTD003	104	105	1	0.33
2019WTD003	109	110	1	0.24
2019WTD003	122	123	1	0.22

APPENDIX II

JORC Code 2012 Table 1 - Warrentinna Project, Derby North Prospect

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 3 diamond drill holes.  In aggregate, 285m of drilling was completed. ·      Hole 2019WTD001 failed to reach target depth. Subsequent hole 2019WTD003 was a step back hole and reached target depth. ·      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.  Historic RC Drilling ·      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.
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).	2019 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.   Historic 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.	2019 Diamond Drilling ·    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 high (93%).  The drilling method employed leads to very high recoveries.  ·     Due to consistently high recoveries, no relationship between grade and recovery is evident. Historic RC Drilling ·     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.	2019 Diamond Drilling ·    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. Historic RC Drilling ·      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.	2019 Diamond Drilling ·     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. Historic RC Drilling ·     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.	2019 Diamond Drilling ·   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. Historic RC Drilling ·     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.
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.	2019 Diamond Drilling ·     Significant intersections have been verified by multiple company personnel. ·      The three diamond drill holes were designed to twin RC holes from a historic RC drilling program. ·     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. Historic RC Drilling ·      Significant intersections have been verified by company personnel. ·    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.	2019 Diamond Drilling ·  Drill hole collar locations were surveyed using a handheld Garmin 64ST GPS (accuracy of ± 5m). ·   All coordinates are in MGA94 Zone55.   ·      Down hole surveys were conducted every 30m using an Axis Champ Discover survey tool.  ·      Topographic control of drill collars utilises handheld GPS information. Historic RC Drilling ·   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.	2019 Diamond Drilling ·    Drill planning designed to twin RC holes from a historic RC drilling program. ·      Sampling interval is generally 1m or 0.5m, but respects geological contacts in places. ·      The data spacing is not sufficient to establish a Mineral Resource.  Historic RC Drilling ·      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.	2019 Diamond Drilling ·    Strike of local geology not readily understood.      ·      No relationship is known between key mineralizing structures and the orientation of drilling. ·  There is presently insufficient information to confirm the true thickness of any mineralised intervals. Historic RC Drilling ·    Strike of local geology not readily understood.    ·      No relationship is known between key mineralizing structures and the orientation of drilling. ·  There is presently insufficient information to confirm the true thickness of any mineralised intervals.
Sample security	•  The measures taken to ensure sample security.	2019 Diamond Drilling ·  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. Historic RC Drilling ·  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.	2019 Diamond Drilling ·      No audits have been completed. ·      No reviews are considered required due as the project is in early phase of exploration. Historic RC Drilling ·      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 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.	·      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.  •   Warrentinna - 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 1ppm Au with zero metres of internal dilution. Au is reported to two significant figures.
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.	• Planned further work includes geological and geochemical investigation of drill results.

 

END

 

 

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