Greatland Gold PLC : Further Drill Results - Er...

19 September 2012

Greatland Gold plc

("Greatland" or "the Company")

Further Drill Results from the Ernest Giles Project

Greatland Gold plc (AIM:GGP), the gold focused mineral exploration and development company based in Australia, announces further results from drilling activities at the Ernest Giles gold project in Western Australia. The results reveal higher grade gold values than previously reported.

Ernest Giles Project (gold), Western Australia

The Ernest Giles project comprises three contiguous tenements covering an area of 948sq km in Central Western Australia. It is located in the north-eastern goldfields region which is host to many large, plus 1m oz, gold deposits such as Wallaby, Sunrise Dam and Granny Smith.

Four reverse circulation (RC) holes were completed in the past months (ERC001-ERC004) and collar details are presented in Table 1. Holes were initially sampled as 4m composites and results from these confirmed mineralisation in hole ERC002.

Table 1 - Ernest Giles RC Drill Hole Collar Details

Hole	East	North	Dip	RL	Depth
ERC001	598995	7017600	vertical	472m	300m
ERC002	599399	7017601	vertical	465m	288m
ERC003	598601	7017629	vertical	474m	199m
ERC004	570600	7039500	vertical	483m	348m
	GDA94	ZONE51

Single metre re-sampling of ERC002 was recently completed and results have been received by the Company. Highest result returned was 1m at 1.28g/t gold from 149m. This is a considerable increase on the initial composite results of 4m at 106ppb Au from 149m. Repeat samples confirm the tenor of the 1m samples to be correct. Other 1m samples from ERC002 reported up to 50ppb gold.

This result is significant from an exploration point of view coming from what is a new gold prospective terrain yet to be fully explored. The 1m result of 1.28g/t gold is modest but supported by 0.7m at 0.45g/t gold in EGD004 some 500m away. The Company's exploration model, of gold in structurally altered Archean Banded Iron Formation and Mafic Rock, as at Mt Magnet in Western Australia (+5million oz), has been now been confirmed over a potential strike length of at least 500m.

The Company will review all drill results in detail in the coming weeks. It will look to trial regional and prospect scale airborne and/or ground geophysical techniques to assist with targeting. Geochemical sampling will also be trialed. A detailed structural and lithological interpretation of the greenstone sequence in the south of the project area will be commissioned. Recommendations from these reports will be used to direct future efforts at Ernest Giles.

Callum Baxter, CEO of Greatland Gold, commented: "The 1.28g/t grade of this 1.0m sample is very encouraging as, together with the alteration in the core, it confirms the presence of a mineralised system at Ernest Giles. Although not yet at levels to be considered economic, our exploration model has been confirmed. It's a great opportunity for the Company. We are targeting big, multi-million ounce, gold deposits and will continue with work to unlock the potential of the Ernest Giles project."

Competent Persons

The information in this announcement that relates to exploration results is based on information compiled by Mr Callum Baxter, 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 single metre spear sampling to 2kg. All samples were prepared at Genalysis Laboratory Services' Kalgoorlie 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.

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.

Enquiries:

Greatland Gold plc

Callum Baxter

Tel  [phone]

Email:  [e-mail]

www.greatlandgold.com

 

Grant Thornton Corporate Finance

Gerry Beaney / Colin Aaronson

Tel  [phone]

 

Newgate Threadneedle

Graham Herring/Beth Harris/Guy McDougall
Tel [phone]

 

Notes to Editors

About Greatland Gold

The principal activity of Greatland Gold plc is to explore for and develop natural resources, with a focus on gold. The Company was established in London during 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.
The Company operates in Australia where it has projects located in Western Australia and Tasmania.
Greatland has a UK and Australian based board of directors with a head office in London and exploration offices in Australia.

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Source: Greatland Gold PLC via Thomson Reuters ONE

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