Continuity of Gold Mineralisation Extended

RNS Number : 5919V

Greatland Gold PLC

31 January 2017

 

31 January 2017

Greatland Gold plc

("Greatland" or "the Company")

Warrentinna - Continuity of Gold Mineralisation Extended

Greatland Gold plc (LON:GGP), the London Stock Exchange AIM listed precious and base metals exploration and development business is pleased to announce initial results from the recent drilling campaign at the Warrentinna gold project in Tasmania, Australia. 

Highlights

·     The recent drilling campaign at Warrentinna (see announcement dated 29^th November 2016) has successfully extended the continuity of gold mineralisation at the Warrentinna project;

·     All holes encountered gold mineralisation with best 4m composite results including 4m at 2.8g/t Au from surface (WTR040) and 4m at 2.9g/t Au from 20m  (WTR038);

·     These results highlight that mineralisation remains open to the north and east, with drill holes WTR38, WTR39 and WTR40 clearly extending the continuity of gold mineralisation to the north;

·     Greatland Gold's field operations team will collect 1m re-samples of several zones of interest during February, and the results of these re-samples are expected to be reported in late March.

Gervaise Heddle, Chief Executive Officer, commented: "We are very pleased with these latest results at Warrentinna that further demonstrate the potential of this valuable asset. These results highlight the potential for a near-surface open pitable resource to be established at Warrentinna over the medium term."

Callum Baxter, Chief Technical Officer, commented: "These latest 4m composite results significantly add to our knowledge regarding the trend of mineralisation and will greatly assist in future efforts to establish a resource at Warrentinna. Mineralisation at Warrentinna remains open to the north, east and at depth.

We look forward to receiving the results of the 1 metre re-sampling in the near future. A map of the drilling results will be published on the Company's website within the next fortnight."

Summary of Results, 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 and Golden Mara where we have intersected significant levels of gold mineralisation, some over 50g/t.

During December 2016 the Company completed an RC drilling programme at the Warrentinna project (previously announced 29 November 2016). A total of six RC holes were drilled for 596m. Each hole was drilled to a nominal 100m depth (apart from one hole completed to a depth of 96m).  All holes were angled at 60 degrees. Five holes were drilled at the Derby North prospect (WTR037-WTR041) and one hole was drilled under historic workings at the Golden Mara prospect (WTR042).

All holes were sampled as 4m composites from surface to end of hole and geologically logged. Results received to date are preliminary and relate to 4m composite results only. All holes returned over 4m at 0.5g/t gold apart from one hole (WTR041). Maximum result returned from Derby North was 4m at 2,878ppb Au, and maximum result from Golden Mara was 4m at 1,071ppb Au.

Overall, results from drilling at Derby North were positive in that continuity of mineralisation has been enhanced over the core of the prospect. Also drilling has highlighted that mineralisation remains open, particularly to the north and east.  Intercepts from Derby North include 44m at 722ppb gold from 20m in hole WTR038 peaking at 4m 2878ppb gold from 20m and 4m at 1230ppb gold from 36m, and 72m at 262ppb gold from 24m in hole WTR039 peaking at 4m at 1254ppb gold from 56m, and 36m at 303ppb gold from 12m in hole WTR037 including 4m at 781ppb gold from 24m. In WTR040 mineralisation was observed from surface peaking at 4m at 2751ppb gold.

Results from drilling at Golden Mara (WTR042) were moderately encouraging and potentially significant when considered with previous results of adjacent hole WTR010 (drilled in 2008) peaking at 3m at 950ppb gold from 30m in a broad intercept of 36m of 300ppb gold from 0m.

Results of mineralised zones (WTR037-WTR042) are presented in Table 1.

1m re-sampling of several zones of interest will be carried out during February 2017 to better confirm results and better define the distribution of gold in mineralised intercepts. Results are expected to be returned from the laboratory during March 2017.

Additional information on the 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.

Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

Table 1 - Warrentinna RC Drilling 4m Composite Sample Results (+100ppb gold)

Hole ID	From (m)	To (m)	Gold (ppb)
WTR037	12	16	156
WTR037	16	20	101
WTR037	20	24	133
WTR037	24	28	781
WTR037	28	32	615
WTR037	32	36	249
WTR037	36	40	297
WTR037	40	44	223
WTR037	44	48	172
WTR038	0	4	187
WTR038	4	8	118
WTR038	20	24	2878
WTR038	24	28	1002
WTR038	28	32	730
WTR038	32	36	256
WTR038	36	40	1230
WTR038	40	44	385
WTR038	44	48	736
WTR038	48	52	360
WTR038	52	56	171
WTR038	60	64	115
WTR039	24	28	750
WTR039	28	32	359
WTR039	32	36	218
WTR039	36	40	204
WTR039	40	44	74
WTR039	44	48	153
WTR039	52	56	474
WTR039	56	60	1254
WTR039	68	72	213
WTR039	76	80	182
WTR039	88	92	127
WTR039	92	96	416
WTR040	0	4	2751
WTR040	4	8	412
WTR040	8	12	137
WTR040	28	32	157
WTR040	32	36	202
WTR040	36	40	201
WTR040	44	48	285
WTR040	52	56	520
WTR040	56	60	110
WTR041	16	20	217
WTR041	24	28	122
WTR041	28	32	214
WTR041	32	36	198
WTR041	36	40	205
WTR041	40	44	185
WTR042	20	24	174
WTR042	68	72	285
WTR042	72	76	1071
WTR042	76	80	181

 

END

 

 

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