Further Drill Results Confirm Gold Mineralisation

RNS Number : 6003U

Greatland Gold PLC

19 January 2017

 

19 January 2017

Greatland Gold plc

("Greatland" or "the Company")

Ernest Giles - Further Drill Results Confirm Gold Mineralisation

Greatland Gold plc (LON:GGP), the London Stock Exchange AIM listed precious and base metals exploration and development business, is pleased to announce that further analysis of samples from recent drilling confirms gold mineralisation at its Ernest Giles project in Western Australia. 

Highlights

·     Higher grade results received from 1m re-sampling of recent RC drilling at Ernest Giles gold project in Western Australia (initial results from 4m composite samples reported on 12^th January 2017);

·     Many significant gold results returned, up to 2g/t Au, including 2m at 1.51g/t and 1m at 1.54g/t, and anomalous silver was also noted in many samples;

·     Results confirm that gold mineralisation is present over a large area and suggest that Greatland has discovered a new gold province in this largely unexplored area;

·     Greatland will be issuing an updated presentation on the 1,000 square kilometre Ernest Giles project within the next two weeks, which will provide a detailed overview of the project, including the Meadows, Empress and Wishbone targets.

Callum Baxter, Executive Director, commented: 'We are very pleased to be able to report these results from our first systematic, wide-spaced drilling campaign at our 100% owned Ernest Giles gold project.

On 12^th January 2017, Greatland reported that results from our recent ambitious drilling campaign at Ernest Giles had successfully identified two large zones of gold mineralisation, including a Western zone of 6km in length and 1.5km in width, and an Eastern zone of 2km in length and 1.5km in width. These results reported today provide support for the view that this large greenstone belt is highly prospective for gold and may contain similar multiple million ounce deposits as have been discovered in other large greenstone belts in Western Australia.

Greatland continues to explore several options to advance this exciting project. Significant results of the 1m sampling are presented in Table 1 at the end of this release.'

Summary of Results and Overview, Ernest Giles Project, Western Australia

The Ernest Giles project is located in central Western Australia, covering an area of 1,000 square kilometres that includes over 120km of strike of gold and nickel prospective rocks. The area is covered by desert sands and sediments, making it virtually unexplored. The region is home to several successful exploration discoveries such as Tropicana (AngloGold ASX:AGG), which contains over 7 million ounces, and Yamarna (Gold Road Resources ASX:GOR), with over 6 million ounces. The Company is targeting large +5m ounce deposits and clusters of several camp-type +1m ounce gold discoveries at Ernest Giles.

Earlier drill programmes by the Company at Ernest Giles intersected gold mineralisation and large alteration systems in wildcat drilling of blind structural targets defined by detailed airborne geophysics. This was considered a major achievement for such a large prospective area with virtually no historical work. To build on this the Company completed a comprehensive broad spaced RC drilling programme which tested several large areas based on work completed by the Company and earlier work by Western Mining Corporation.

The 2016 RC drill programme comprised 23 holes for 5,581m.  Hole locations were based on a broad spaced grid pattern of 1,600m x 800m. Holes were designed to test basement lithologies for gold mineralisation and also test beneath surface geochemical anomalies.

Mineralisation was observed in 13 of the 23 holes. Initial 4m composite analysis of drill spoils shows gold anomalism between 5 and 95ppb in more than 10 holes peaking at 784ppb. Several holes exhibiting gold anomalous zones over tens of metres, for example ERC011 140-200m (60m) peaking at 0.78g/t gold with mineralisation at end of hole, and ERC014 224-278m (54m) peaking at 0.17g/t gold also with mineralisation at end of hole.

Additional 1m sampling of several zones of interest was undertaken to confirm preliminary results and better define mineralisation. Only holes ERC011, ERC013 and ERC014 were sampled with a total of 174 single metre samples collected. Many significant gold results were returned up to 2g/t, including 2m at 1.51g/t and 1m at 1.54g/t. Anomalous silver was also noted in many samples. Significant results of the 1m sampling are presented in Table 1. Results confirm mineralisation is present over a large area and suggest that Greatland has discovered a new gold province in this largely unexplored region.

The Company will continue with planning of additional drill hole locations and further surface geochemistry along with a review of previous work. It should be noted that the project area covers over 1,000 square kilometres and is host to a number of other high priority targets such as Empress and Wishbone, the former an unexplained +300ppb gold surface anomaly, and the latter an untested coincident geochemical and structural target.

Additional information on the Ernest Giles project 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/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 - Ernest Giles 1m Sample Results (>14ppb gold)

Hole ID	From (m)	To (m)	Gold (ppb)
ERC011	142	143	85
ERC011	143	144	93
ERC011	144	145	479
ERC011	145	146	213
ERC011	146	147	48
ERC011	147	148	28
ERC011	150	151	17
ERC011	156	157	28
ERC011	157	158	42
ERC011	158	159	59
ERC011	159	160	149
ERC011	160	161	54
ERC011	161	162	1542
ERC011	162	163	439
ERC011	163	164	732
ERC011	164	165	76
ERC011	165	166	23
ERC011	166	167	41
ERC011	167	168	132
ERC011	168	169	21
ERC011	177	178	74
ERC011	181	182	37
ERC011	182	183	447
ERC011	183	184	17
ERC011	184	185	22
ERC011	186	187	207
ERC011	187	188	329
ERC011	188	189	400
ERC011	189	190	821
ERC011	190	191	1020
ERC011	191	192	1995
ERC011	192	193	137
ERC011	193	194	118
ERC011	196	197	15
ERC011	197	198	132
ERC011	198	199	42
ERC013	212	213	73
ERC013	213	214	223
ERC013	214	215	305
ERC013	269	270	34
ERC013	270	271	506
ERC013	271	272	163
ERC013	272	273	185
ERC013	273	274	35
ERC013	274	275	32
ERC013	275	276	16
ERC013	276	277	16
ERC013	277	278	41
ERC013	278	279	24
ERC013	279	280	14
ERC014	231	232	73
ERC014	232	233	158
ERC014	233	234	98
ERC014	234	235	94
ERC014	235	236	68
ERC014	236	237	53
ERC014	237	238	34
ERC014	238	239	264
ERC014	239	240	60
ERC014	240	241	142
ERC014	241	242	245
ERC014	242	243	66
ERC014	243	244	288
ERC014	244	245	40
ERC014	245	246	55
ERC014	246	247	76
ERC014	247	248	93
ERC014	248	249	127
ERC014	249	250	102
ERC014	252	253	82
ERC014	258	259	18
ERC014	270	271	42
ERC014	274	275	32
	275	276	24
	276	277	15

 

END

 

 

DRLDMGMMRLGGNZG