Greatland awarded drilling grant for Ernest Giles

RNS Number : 5342D

Greatland Gold PLC

20 October 2022

 

20 October 2022

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK MARKET ABUSE REGULATIONS.  ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Greatland Gold plc

( " Greatland "  or "the Company " )

Greatland awarded a drilling grant for Ernest Giles exploration project

Greatland receives a grant of up to A$220,000 (£120,000)

under the Western Australian Government's Exploration Incentive Scheme

Grant to be used to co-fund exploration at Greatland's 100% owned Ernest Giles project

Greatland Gold plc (AIM:GGP), a mining development and exploration company with a focus on precious and base metals, is pleased to announce it has been awarded a grant from the Western Australian Government to co-fund exploration drilling and mobilisation costs at its 100% owned Ernest Giles project.

The grant awarded is the result of a successful application under the Exploration Incentive Scheme (EIS). Greatland is eligible to receive a grant up to A$220,000 (£120,000) to co-fund drilling and mobilisation costs, for completion before 30 November 2023.

Shaun Day, Managing Director of Greatland Gold plc, commented : "This drilling grant award for the Ernest Giles project will co-fund commencement of a new exploration programme. Ernest Giles is located in the Yilgarn craton, one of the most highly mineralised areas in the world and home to numerous gold deposits . With work advancing to finalise access, this grant then enables testing of priority targets at Ernest Giles, an underexplored and prospective part of the Greatland portfolio. "

About Ernest Giles project

The Ernest Giles project covers a sequence of magnetic greenstone rocks (Figure 1) typical of the Archean goldfields of Western Australia which host large gold camps such as Kalgoorlie, Leonora, Laverton, Mt Magnet and Jundee. The project is located approximately 250km north-east of the town of Laverton. The gold prospective greenstone sequence at Ernest Giles does not outcrop. Thickness of the cover sequence ranges from around 120m to more than 300m across the broader project area. Consequently, with no outcrop, the project has not been subject to extensive historic exploration activity.

Drill testing on the Calanchini licence, focusing on the Meadows prospect (Figure 2), as outlined in the EIS will be the first priority for Greatland. Previous drilling has identified favorable Archean hosts rocks for Yilgarn style shear hosted gold. Ongoing work will include airborne geophysics to better understand the geology of the entire Ernest Giles belt prior to systematic drill testing of the resultant priority targets.

Additional information on the project can be found on the Company's website at

https://greatlandgold.com/projects/ernest-giles/

Figure 1 : Location plan showing the Calanchini licence over

a total magnetic intensity image of open file regional magnetic data

Figure 2 : Meadows Gold prospect and priority targets on open file regional magnetics.

About the Exploration Incentive Scheme

The co-funded Government and Industry Drilling Program is being funded by the Western Australian State Government, to provide a stimulus to geoscience exploration and contribute to the economic development of regional areas of Western Australia. Geoscience exploration includes mineral, oil and gas, and geothermal exploration with drilling to be undertaken in underexplored areas.  The program is administered by the Western Australian Department of Mines, Industry Regulation and Safety.

Enquiries:

Greatland Gold PLC Shaun Day		[e-mail] www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated Adviser) Andrew Emmott/James Keeshan		[phone]
Berenberg (Joint Corporate Broker and Financial Adviser) Matthew Armitt/ Jennifer Lee/ Jack Botros		[phone]
Canaccord Genuity (Joint Corporate Broker and Financial Adviser) James Asensio/Patrick Dolaghan		[phone]
SI Capital Limited (Joint Broker) Nick Emerson/ Sam Lomanto		[phone]
Gracechurch Group (Media and Investor Relations) Harry Chathli/Alexis Gore/Henry Gamble		[phone]

Notes for Editors:

Greatland Gold plc (AIM:GGP) is a mining development and exploration company with a focus on   precious and base metals.

Greatland has a proven track record of discovery and exploration success. It is pursuing the next generation of tier-one mineral deposits by applying advanced exploration techniques in under-explored regions. The Company is focused on safe, low-risk jurisdictions and is strategically positioned in the highly prospective Paterson region. Greatland has a total of six projects across Australia with a focus on becoming a multi-commodity mining company of significant scale.

 

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