Board Approves New Gold Exploration Programme

RNS Number : 8240B

Greatland Gold PLC

21 June 2016

 

21 June 2016

Greatland Gold plc

("Greatland" or "the Company")

Ernest Giles Project - Board Approves New Gold Exploration Programme

Greatland Gold plc (LON:GGP), the London Stock Exchange AIM listed precious and base metals exploration and development business is pleased to announce that the Board has formally approved a new gold exploration programme at the Ernest Giles project. 

Highlights

·     Following an extensive review of historic internal and external exploration data, the Board of Greatland has approved the commencement of a new exploration programme at its Ernest Giles project;

·     Exploration programme will target gold, arsenic and antimony anomalies that were encountered in drilling and soil sampling in the southern parts of the Ernest Giles project area;

·     The Board has approved a programme of wide-spaced RC drilling in the target areas; and

·     The Ernest Giles project covers a significant portion of a large greenstone belt that has been subject to little historical exploration.

Callum Baxter, Executive Director, commented: 'We are very pleased to announce a new exploration programme at our 100% owned Ernest Giles project which further demonstrates the Board's commitment to a dynamic phase of proactive exploration for the Company.

Exploration work conducted by Western Mining Corporation in the late 1990s identified a large gold-arsenic soil anomaly in the southern parts of the Ernest Giles project area. Initial drilling by Greatland nearby, conducted in 2010 and 2012, has revealed large alteration systems and gold mineralisation.

The Board of Greatland has approved additional RC drilling that will systematically follow up this previous exploration work. Further details regarding this drilling programme will be announced to market shortly.'

Ernest Giles Project, Western Australia

The Ernest Giles project is located in central Western Australia, covering an area of 270 square kilometres that includes over 30km 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/Gruyere (Gold Road Resources ASX:GOR), with over 6 million ounces.

Greatland has identified several target areas based on historical work by Western Mining Corporation in the late 1990s and more recent detailed airborne geophysics. Initial drilling programmes completed by the Company have identified large alteration systems and intersected gold mineralisation which is an important development in the exploration of this new terrain.

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/Andrew Bell

Tel [phone]

Email:  [e-mail]

www.greatlandgold.com

SPARK Advisory Partners Limited (Nominated Adviser)

Sean Wyndham-Quin/Neil Baldwin/James Keeshan

Tel [phone]

SI Capital Limited (Broker)

Nick Emerson / Andy Thacker

Tel  [phone]

Finsbury (Media Relations)

Gordon Simpson / Olivia Simpson

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 four main projects; two 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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