Drilling Results at Warrentinna Gold Project

RNS Number : 3024H

Greatland Gold PLC

19 June 2013

 



19 June2013

Greatland Gold plc

("Greatland" or "the Company")

Positive drilling results at Warrentinna Gold Project

Greatland Gold plc, the mineral exploration and development company based in Australia, is pleased to announce positive results of drilling activities at the Warrentinna gold project ("Warrentinna") in Tasmania, Australia.

Highlights

·     All holes intersected gold mineralisation above 1.32g/t gold, including:

o  1m at 19.77g/t gold from 71m in hole WTR028

o  26m at 2.32g/t gold from 5m in hole WTR028

·     1m results received for samples from RC drilling at Derby North prospect; interpreted new lode at Derby North enhances this area as a potential open pittable resource

Callum Baxter, CEO, commented: "These are very positive results and are a step forward in our plan to establish resources across our portfolio of assets. We will continue to review this data in the coming months as we plan for our drilling programme in Q4 2014. This is in line with the Company's aim of targeting highly prospective areas for multi-million ounce orebodies."

Details

A program of Reverse Circulation ("RC") drilling was completed at the Derby North prospect during late 2012. All RC holes were drilled to a maximum depth of 100m and angled at 60 degrees. Drilling comprised three holes for a total of 300m. Details of drill hole collars are presented in a previous announcement dated 19 March 2013. Single metre re-split sampling has been completed and results are reported here.

The maximum result was 1m at 19.77g/t gold from 71m in hole WTR028 which repeated at 21.83g/t gold. A broad zone of shallow mineralisation was also intersected in hole WTR028  of 26m at 2.32g/t, which included a substantial intercept of 11mm at 4.24g/t gold from 9m downhole. The mineralisation intersected in WTR028 is interpreted as a new lode not previously intersected.

All three RC holes intersected gold mineralisation above 1.32g/t gold. Silver mineralisation above 1g/t was also present in hole WTR28, peaking at 2.5g/t. Results are presented in Appendix I.

Gold mineralisation is coincident with quartz vein structures and disseminated sulphides. Drilling to date covers a strike length of 150m and has established a 100m wide, north-south trending, zone of gold mineralisation within which quartz reefs with high grades occur.

The Company will review all available data and plan for further drilling in Q4 2013.

Enquiries:

Greatland Gold plc

Callum Baxter

Tel  [phone]

Email:  [e-mail]

www.greatlandgold.com

Grant Thornton Corporate Finance

Colin Aaronson / Daniela Amihood

Tel  [phone]

RLM Finsbury

Gordon Simpson / Chris Ryall

Tel [phone]

Notes to Editors

Greatland Gold is a mineral exploration and development company based in Australia.The principal activity of Greatland Gold plc is to explore for and develop natural resources, with a focus on gold. The Company currently has six mineral projected located in Australia, including the Ernest Giles, Firetower, Warrentinna, Lisle, Bromus and Lackman Rock projects. The pipeline of projects targets highly prospective areas for multi-million ounce orebodies.  The Company was established in London in 2005 and admitted to AIM in July 2006.

The board seeks to increase shareholder value by the systematic evaluation of its existing resource assets, as well as the acquisition of suitable exploration and development projects and producing assets.

Greatland has a UK and Australian based board of directors with a head office in London and an exploration office in Australia.

Competent Persons

The 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. 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 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. 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.

All RC drill sample results were obtained from 1m riffle split sampls to 2kg. All samples were prepared at Genalysis Laboratory Services' Adelaide facility using single stage pulverisation, and assayed at Genalysis Laboratory Services' Perth laboratory. A 50g Fire Assay with atomic absorption spectrometry analysis technique (AAS) was used for gold, and Aqua Regia optical emission spectrometry (OES) was used for silver.

Sample quality control is achieved using standards, duplicates, repeats and blanks. 

Where the Company has made reference to drill intersections in this announcement, it has interpreted these are at, or near, true widths.

Appendix I - RC Drill Results (>0.4g/t gold, >0.9g/t silver)

Hole ID	From (m)	To (m)	Interval (m)	Gold (g/t)	Gold Repeat (g/t)	Silver (g/t)
WTR028	5	31	26	2.32
Incl.	5	6	1	0.41
	6	7	1	1.27
	7	8	1	0.43
	8	9	1	1.36
	9	10	1	4.09
	10	11	1	5.81		1.7
	11	12	1	4.95
	12	13	1	3.27
	13	14	1	3.75
	14	15	1	10.76	11.37	1.8
	15	16	1	1.84
	16	17	1	1.76
	17	18	1	2.67
	18	19	1	2.88
	19	20	1	4.85		2.0
	20	21	1	1.12
	21	22	1	0.79
	22	23	1	0.90
	23	24	1	1.25
	24	25	1	1.05
	25	26	1	1.11
	26	27	1	1.72
	27	28	1	0.53
	28	29	1	0.66
	29	30	1	0.49
	30	31	1	0.54
WTR028	69	70	1	0.88
	70	71	1	7.64	7.69	2.5
	71	72	1	19.77	21.83	1.2
	72	73	1	0.71
WTR029	88	89	1	1.08
	89	90	1	2.22	2.15
	90	91	1	1.34
	91	92	1	0.91
WTR030	88	89	1	0.43
	89	90	1	1.32

 

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