Approval to test nickel sulphide target

RNS Number : 2521S

Greatland Gold PLC

22 June 2018

 

22 June 2018

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

Greatland Gold plc

("Greatland" or "the Company")

Greatland Gold receives approval to test nickel sulphide target at Carnegie and commences drilling campaign at Ernest Giles

Drilling campaign has commenced on schedule and will focus on three high priority gold targets and the additional nickel sulphide target

Greatland Gold plc (LON:GGP), the precious and base metals exploration and development Company, is pleased to announce that it has received approval from the Western Australian Department of Mines, Industry Regulation and Safety to drill a hole to test a nickel sulphide target at the Carnegie licence. In addition, and further to the announcements of 9 May 2018 and 5 February 2018, the Company is pleased to announce that it has commenced a Reverse Circulation ("RC") drilling programme at the Company's 100% owned Ernest Giles project in Western Australia.

Ernest Giles

The drilling programme at Ernest Giles has commenced and will focus on three high priority gold targets at the Meadows, Wishbone and Empress areas, and a nickel sulphide target at the Carnegie licence.

The drilling programme at the Meadows area will consist of approximately twenty-four RC drill holes to test the 5km by 1.5km anomaly defined by Deep Sensing Geochemistry ("DSG") work which remains untested by previous drilling. In addition, up to six RC holes will be completed at the Wishbone and Empress areas to test basement geology and physical rock properties.

Carnegie Licence

The Carnegie nickel sulphide target in the Ernest Giles project area resembles both the geophysical signature and size of Independence Group's (formerly Sirius Resources') Nova nickel deposit.  Only one previous hole has been drilled at Carnegie (by Greatland in 2015) targeting the geophysical magnetic anomaly. Significantly this drill hole intersected mafic intrusive rocks at end of hole (300m) showing strong heamatite and magnetite alteration supporting the presence of a mafic intrusive body prospective for nickel sulphides. Analytical results highlight the prospectivity, with elevated As and Pb to 18ppm and 40ppm, respectively, at end of hole. The 2018 RC hole at Carnegie is planned to a depth of 375 metres and will be included as part of the current drilling programme at Ernest Giles.

Gervaise Heddle, Chief Executive Officer, commented: "We are very pleased to be on schedule with our drilling campaign at Ernest Giles. Given the strong rise of the nickel price, which has nearly doubled in the past 12 months, this is an opportune moment to test our nickel target at Carnegie, particularly due to the encouraging results from our historical drill hole. We look forward to updating the market with results in due course."

Additional information on the Ernest Giles project can be found on the Company's website at www.greatlandgold.com/ernest-giles/.

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/Andrew Emmott/James Keeshan

Tel [phone]

SI Capital Limited (Broker)

Nick Emerson/Alan Gunn

Tel  [phone]

Luther Pendragon (Media and Investor Relations)

Harry Chathli/Ana Ribeiro/Alexis Gore

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 six main projects; four situated in Western Australia and two in Tasmania.  All projects are 100% owned by Greatland.  

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.

 

END

 

 

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