Bromus - Drilling Commencement

RNS Number : 8774Z

Greatland Gold PLC

20 March 2017

 

20 March 2017

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

Greatland Gold plc

("Greatland" or "the Company")

Bromus - Drilling Commencement

Greatland Gold plc (LON:GGP), the London Stock Exchange AIM quoted precious and base metals exploration and development business, is pleased to announce that drilling has commenced at the Bromus project in Western Australia.

Highlights

·     Greatland is pleased to announce that Greatland's field operations team has commenced drilling at the Bromus project;

·     Drilling programme consists of two drill holes that will test two highly conductive targets which were identified by recent downhole EM surveys (see announcement dated 14 November 2016);

·     Key objective of the drilling programme is to determine the nature of the two conductive targets, both of which are considered high priority targets for massive sulphide mineralisation;

·     Drilling is expected to be completed within the next two weeks, with assay results expected to follow four weeks later.

Gervaise Heddle, Chief Executive Officer, commented: "We are very pleased to commence drilling at Bromus and follow up on the work done last year that identified two highly conductive targets. In our opinion, both of these high priority targets are prospective for nickel sulphide mineralisation.

We expect drilling to be completed within the next two weeks and assay results should be available by the end of April."

Bromus Project, Western Australia

The Bromus project is located in southern Western Australia, approximately 25km south west of the town of Norseman, and covers approximately 93 square kilometres. Several significant clusters of gold and nickel sulphide deposits lie in the region, such as those at Central Norseman, Kambalda and Widgiemooltha. Greatland owns 100% of the project.

A review of detailed airborne geophysics defined a 4.5km long nickel sulphide prospective ultramafic, with coherent elevated surface geochemistry to 2,690ppm Ni, within the Bromus project area. Field work confirmed the presence of flow textured ultramafic lithologies and, despite the proximity to other deposits, no previous exploration for nickel sulphides is apparent. A fixed loop ground electromagnetic (EM) survey was completed in 2015 which confirmed several significant bedrock conductors in the survey area.

Such large bodies of conductive material are typically signs of sulphide deposits. The tenor (or grade) of nickel in these deposits can only be determined by drilling and laboratory analysis.

Recent drilling of the conductive bodies by Greatland intersected ultramafic, mafic and granitic lithologies along with massive and stringer sulphide mineralisation explaining the EM response of several targets. However, the primary EM target (BRD001) remained unexplained.

Downhole EM (DHEM) surveys were recently completed to determine the size and orientation of conductors intersected in each hole and to locate the conductor not intersected in BRD001.

DHEM was successful in identifying several highly conductive targets not intersected by previous drilling by Greatland. These targets have conductances which are consistent with massive sulphide mineralisation and, as such, are considered high priority targets. The conductive targets are located close to BRD001 and BRD003. No conductive sediments were intersected in either of hole BRD001 and BRD003 discounting these as the source of the downhole EM response. The targets are well constrained by the modelling and relatively shallow at approximately 100m below surface.

Modelling of DHEM data shows the conductive targets adjacent to holes BRD001 and BRD003 are of good size being 130m x 100m and 150m x 70m respectively. Two additional drill holes have been planned to intersect the targets utilising existing drill pads.

Drawings of modelled EM targets for BRD001 and BRD003 with previous drill hole traces along with new proposed holes can be found at the following link  http://greatlandgold.com/project/2014/bromus 

A Programme of Work (POW) application for additional drill holes was lodged with the Department of Mines and Petroleum (DMP) in Western Australia and formal approval has been received. The drilling programme includes plans for two drill holes with each hole approximately 180 metres for a total of 360 metres. Drilling has commenced and we will utilise existing drill pads which will reduce overall costs. Drilling is expected to be completed within the next two weeks and assay results should be received four weeks thereafter.

Additional information on the Bromus project can be found on the Company's 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/Sean Wyndham-Quin/James Keeshan

Tel [phone]

SI Capital Limited (Broker)

Nick Emerson / Andy Thacker

Tel  [phone]

Notes for Editors:

Greatland Gold plc is London listed (LON:GGP) natural resource exploration and development company with a current focus on gold and nickel exploration projects.  

The Company has five main projects; three situated in Western Australia and two in Tasmania.  All projects are 100% owned by Greatland or Greatland has the right to take 100% ownership.  

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.

 

END

 

 

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