Second year exploration programme at Juri JV

RNS Number : 3111N

Greatland Gold PLC

31 May 2022

 

31 May 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 commences second year exploration programme at Juri JV

Drill programme to focus on high-priority targets within the Paterson Range East

and Black Hills licence including targets A9, A27 and Tama

Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, is pleased to announce the commencement of the 2022 exploration programme under the Juri Joint Venture ("Juri JV") with partner Newcrest Mining Limited ("Newcrest") in the highly prospective Paterson province of Western Australia .

Highlights of 2022 Exploration Activities for the Juri JV:

§ Drilling of three high-priority targets to commence in June across the Paterson Range East and Black Hills licences.

§ Aerial and ground electromagnetic data review is underway.

§ A programme of soil sampling along existing tracks has been completed and submitted for geochemical analysis, to assist in identification of undercover geology and potential subtle mineralisation trends.

§ Gravity data re-processing, aimed at refining existing and generating new targets.

§ Heritage clearances completed with establishment of camp infrastructure underway ahead of drill programme

§ The planned work has been agreed between the JV partners and is funded solely by Newcrest.

The Paterson Range East licence lies approximately 25 kilometres north of the Company's Havieron gold-copper project and covers 224 square kilometres of Proterozoic basement rocks prospective for Havieron style gold-copper mineralisation.  The Black Hills licence covers 25 square kilometres and lies approximately 20 kilometres west of Havieron and 30 kilometres northeast of Newcrest's Telfer Gold Mine.

Shaun Day, Managing Director of Greatland  Gold plc, commented:  "After a promising first year programme, we are excited to commence on-the-ground activities for the second year exploration and drilling campaign under the Juri JV with Newcrest.

There is an enhanced, rich source of information available to interpret from including prior year's drilling results, aerial and ground electro magnetic data and the Juri JV teams have used this to identify promising high priority targets to be drilled over the next few months.

The Juri JV campaign forms part of Greatland's wider exploration portfolio in the highly prospective Paterson region and represents another opportunity to add value to the Company.  In addition, we look forward to moving ahead with upcoming exploration activities at Greatland's other 100% owned licences to take advantage of our strong position in the region."

Further information on the Juri JV

The Juri JV comprises the Paterson Range East and Black Hills licences covering an area of approximately 249 square kilometres in the Paterson region of north-western Australia. The Farm-In commenced on 30 November 2020. Newcrest has the right to earn up to a 75% interest in the licences by spending up to A$20m as part of a two-stage Farm-In over five years. Stage 1, a minimum commitment by Newcrest of A$3m within 24 months of commencement has been met by Newcrest. Stage 2, now underway, contemplates an additional A$17m over a further three years (total A$20m over five years). Newcrest currently hold a 51% interest in the Juri JV. Greatland is the current manager of the Juri JV.

Exploration work at the Juri JV licences is focussed on the discovery of significantly sized gold-copper deposits similar to Havieron, Telfer and Winu.

As agreed with the JV partners, the 2022 work programme will include the following activities with further work to be determined following a review of results:

§ Drill testing of three high-priority targets across the JV licences, including Electro magnetic ("EM") targets A27 and A9, potential conductive mineralised sulphide bodies as seen at Telfer gold mine and previously defined magnetic and gravity target Tama, considered geophysically consistent with Havieron style mineralisation.

§ Soil sampling along existing tracks has been completed with assay results awaited.

§ Geophysical gravity data normalisation with depth of cover modelling and subsequent target generation.

§ EM data processing, modelling, interpretation and targeting.

§ Planned new ground geophysical work around the previously reported anomalous BH003 zone (refer previous announcement dated 23 December 2021) and other EM targets to refine targeting.

Additional information on the Juri JV can be found on the Company's website at https://greatlandgold.com/juri-jv/

In addition to this release, a PDF version of this report with supplementary information can be found at the Company's website: https://greatlandgold.com/investors/regulatory-news/

Enquiries:

Greatland Gold PLC Shaun Day	[phone] [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/ Detlir Elezi	[phone]
Canaccord Genuity (Joint Corporate Broker and Financial Adviser) James Asensio/Patrick Dolaghan	[phone]
Hannam & Partners (Joint Corporate Broker and Financial Adviser) Andrew Chubb/Matt Hasson/Jay Ashfield	[phone]
SI Capital Limited (Joint Broker) Nick Emerson/Alan Gunn	[phone]
Luther Pendragon (Media and Investor Relations) Harry Chathli/Alexis Gore	[phone]

Notes for Editors:

Greatland Gold plc (AIM:GGP) is a mining development and exploration company with a focus on precious and base metals . The Company's flagship asset is the world-class Havieron gold-copper deposit in the Paterson region of Western Australia, discovered by Greatland and presently under development in Joint Venture with Newcrest Mining Ltd.

Havieron is located approximately 45km east of Newcrest's Telfer gold mine and, subject to positive decision to mine, will leverage the existing infrastructure and processing plant to significantly reduce the project's capital expenditure and carbon impact for a low-cost pathway to development. An extensive growth drilling programme is presently underway at Havieron with a maiden Pre-Feasibility Study released on the South-East Crescent on 12 October 2021. Construction of the box cut and decline to develop the Havieron deposit commenced in February 2021.

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 six projects across Australia with a focus on becoming a multi-commodity mining company of significant scale.

 

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