Warrentinna - Drilling Results

RNS Number : 8585Y

Greatland Gold PLC

08 March 2017

 

8 March 2017

Greatland Gold plc

("Greatland" or "the Company")

Warrentinna - Drilling Results Highlight Potential to Extend Gold Zone

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

Highlights

·     Greatland is pleased to report that higher grade results have been received from 1m re-sampling of recent RC drilling at the Warrentinna gold project in Tasmania (initial results from 4m composite samples were reported on 31 January 2017);

·     Results include 1m at 4.7g/t Au from 22m within a broader intersection of 5m at 2.4g/t Au from 21m (WTR038), and 1m at 4.1g/t Au from 3m within a broader intersection of 4m at 2.1g/t Au from 1m (WTR040);

·     These results confirm continuity of the mineralisation over the core of the prospect and highlight the potential to extend the current zone of mineralisation; and

·     Further surface sampling and mapping will be undertaken at the Derby North prospect to track the mineralised zone further north, followed by planning of additional drill holes.

Gervaise Heddle, Chief Executive Officer, commented: 'These final results from our recent RC drilling campaign at Warrentinna underscore our view that there is considerable scope to extend the current zone of gold mineralisation, particularly to the north and east as illustrated by the Warrentinna drilling maps that have been recently published on our website (www.greatlandgold.com).

We would like to take this opportunity to remind investors that nearly all of the drilling conducted to date at the Warrentinna project has been within 100 metres of surface and that each drilling campaign has consistently encountered zones of gold mineralisation. We believe that there is considerable potential for a near-surface open pitable resource to be established at Warrentinna over the medium term.'

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 on 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).

Initially all holes were sampled as 4m composites from surface to end of hole and geologically logged with these preliminary results announced on 31 January 2017. Single metre samples were recently collected through mineralised zones of interest to confirm initial results. Results in this announcement are considered final and relate to single metre samples. All holes returned over 0.5g/t gold from both Derby North and Golden Mara. Peak result was 4.68g/t gold from Derby North.

Overall, single metre sample results from drilling at Derby North confirm continuity of mineralisation over the core of the prospect. Also drilling has highlighted that that there is scope to extend the current zone as mineralisation remains open, particularly to the north and east and at depth.

Intercepts from Derby North include 42m at 722ppb gold from 21m in hole WTR038 peaking at 1m at 4678ppb gold from 22m including 5m at 2444ppb gold from 21m, 24m at 443ppb gold from 21m in hole WTR037, and 4m at 2118ppb gold from 1m in hole WTR040. Overall mineralisation at Derby North is relatively shallow (starting from surface) and notably is open to the east, north and at depth.

Results from single metre samples at Golden Mara (WTR042) were potentially significant when considered with previous results of adjacent hole WTR010 (2008) peaking at 2m at 997ppb gold from 72m in a broad intercept of 8m of 601ppb gold from 69m.

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

Further work at the project will involve surface sampling and mapping at Derby North to track the mineralised zone to the north followed by planning of additional drill holes to infill and extend the mineralised zone to the north and east.

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 Single Metre Sample Results (+100ppb gold)

Hole ID	From (m)	To (m)	Gold (ppb)
WTR037	4	5	133
WTR037	5	6	232
WTR037	7	8	149
WTR037	8	9	406
WTR037	13	14	132
WTR037	14	15	199
WTR037	19	20	125
WTR037	21	22	553
WTR037	22	23	851
WTR037	23	24	68
WTR037	24	25	1679
WTR037	25	26	385
WTR037	26	27	1433
WTR037	27	28	736
WTR037	28	29	98
WTR037	29	30	243
WTR037	30	31	299
WTR037	31	32	1039
WTR037	32	33	429
WTR037	33	34	171
WTR037	34	35	91
WTR037	35	36	164
WTR037	36	37	99
WTR037	37	38	176
WTR037	38	39	202
WTR037	39	40	326
WTR037	40	41	263
WTR037	41	42	347
WTR037	42	43	180
WTR037	43	44	221
WTR037	44	45	588
WTR037	46	47	328
WTR037	47	48	125
WTR038	1	2	353
WTR038	2	3	238
WTR038	3	4	163
WTR038	4	5	160
WTR038	5	6	226
WTR038	21	22	1800
WTR038	22	23	4678
WTR038	23	24	3802
WTR038	24	25	918
WTR038	25	26	1023
WTR038	26	27	800
WTR038	27	28	363
WTR038	28	29	595
WTR038	29	30	225
WTR038	30	31	386
WTR038	31	32	590
WTR038	32	33	236
WTR038	33	34	221
WTR038	34	35	1087
WTR038	35	36	435
WTR038	36	37	1704
WTR038	37	38	1943
WTR038	38	39	588
WTR038	39	40	1024
WTR038	40	41	835
WTR038	41	42	292
WTR038	42	43	241
WTR038	43	44	175
WTR038	44	45	953
WTR038	45	46	175
WTR038	46	47	1777
WTR038	47	48	437
WTR038	48	49	613
WTR038	49	50	581
WTR038	50	51	111
WTR038	51	52	146
WTR038	52	53	258
WTR038	54	55	352
WTR038	55	56	197
WTR038	57	58	110
WTR038	62	63	462
WTR039	9	10	436
WTR039	10	11	103
WTR039	20	21	268
WTR039	24	25	212
WTR039	25	26	315
WTR039	26	27	117
WTR039	30	31	133
WTR039	31	32	181
WTR039	32	33	145
WTR039	33	34	203
WTR039	34	35	117
WTR039	35	36	103
WTR039	38	39	371
WTR039	42	43	270
WTR039	43	44	206
WTR039	44	45	394
WTR039	51	52	164
WTR039	52	53	460
WTR039	53	54	422
WTR039	56	57	610
WTR039	57	58	1007
WTR039	58	59	1259
WTR039	68	69	136
WTR039	69	70	237
WTR039	70	71	274
WTR039	71	72	206
WTR039	72	73	248
WTR039	79	80	429
WTR039	85	86	172
WTR039	87	88	264
WTR039	88	89	122
WTR039	90	91	167
WTR039	91	92	879
WTR039	92	93	393
WTR039	93	94	459
WTR039	94	95	355
WTR039	95	96	395
WTR040	1	2	1868
WTR040	2	3	1492
WTR040	3	4	4090
WTR040	4	5	1021
WTR040	5	6	144
WTR040	6	7	447
WTR040	7	8	264
WTR040	8	9	273
WTR040	11	12	186
WTR040	13	14	121
WTR040	26	27	122
WTR040	27	28	101
WTR040	30	31	399
WTR040	31	32	255
WTR040	32	33	158
WTR040	33	34	208
WTR040	34	35	289
WTR040	35	36	235
WTR040	36	37	187
WTR040	37	38	386
WTR040	38	39	118
WTR040	39	40	149
WTR040	40	41	152
WTR040	41	42	132
WTR040	44	45	455
WTR040	45	46	741
WTR040	46	47	101
WTR040	52	53	221
WTR040	53	54	376
WTR040	54	55	506
WTR040	55	56	1360
WTR040	56	57	248
WTR041	11	12	165
WTR041	12	13	101
WTR041	13	14	128
WTR041	17	18	331
WTR041	18	19	192
WTR041	19	20	147
WTR041	25	26	165
WTR041	28	29	104
WTR041	30	31	157
WTR041	31	32	231
WTR041	32	33	189
WTR041	33	34	172
WTR041	34	35	209
WTR041	35	36	238
WTR041	36	37	252
WTR041	37	38	157
WTR041	38	39	158
WTR041	39	40	414
WTR041	40	41	223
WTR041	42	43	207
WTR042	65	66	161
WTR042	66	67	155
WTR042	69	70	509
WTR042	70	71	148
WTR042	71	72	617
WTR042	72	73	997
WTR042	73	74	997
WTR042	74	75	404
WTR042	75	76	428
WTR042	76	77	709

 

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