Greatland Gold PLC : Operational Update on Brom...

21 November 2012

Greatland Gold plc

("Greatland" or "the Company")

Operational Update on Bromus and Lackman Rock Gold Projects, Western Australia

Greatland Gold plc (AIM:GGP), the gold focused mineral exploration and development company based in Australia, today announces positive results from surface sampling activities at the Bromus and Lackman Rock gold projects in Western Australia.

Highlights:

• Follow up soil sampling work completed at both projects producing positive results
  • Bromus Project - 4.6km long surface gold anomaly identified
  • Lackman Rock Project - 1.2km long surface gold anomaly identified

Bromus Project (gold), Western Australia

The Bromus project is located in the southern Yilgarn region of Western Australia, approximately 25km south-west of the gold mining town of Norseman. It includes a north-west trending greenstone belt interpreted to have a width of some 2km. Most of the project area is covered by soil with little exposure of the underlying gold prospective greenstones.

The Company has completed a follow-up auger geochemical soil sampling programme in the southern parts of the Bromus project area. The highest result returned from follow-up sampling was 6.1ppb gold. This, combined with 2011 auger results, outlines a larger surface anomaly some 4.6km long peaking at 8.4ppb gold. Background levels of gold in soils at the project are 1ppb gold or less. Reconnaissance drill testing of this large surface anomaly has been recommended.

The Company has been granted title to a licence immediately north of the existing licence. Total strike length of prospective greenstone rocks now covered is 26km. In the northern licence, previous exploration by other companies has outlined another large surface geochemical anomaly some 9.5km long peaking at 214ppb gold. Several reverse circulation ("RC") holes by previous explorers have partially tested this anomaly with results including 3m at 1.9g/t gold.

Further work at Bromus will focus on the large gold anomalies in the south and north of the project area. Reconnaissance drilling of the southern anomaly is warranted and further investigation of targets in the northern licence will be carried out.

Lackman Rock Project (gold), Western Australia

Lackman Rock is located in the southern Yilgarn region, approximately 80km south-west of Norseman. Like Bromus, Lackman Rock covers a north-west trending greenstone belt with little exposure of the underlying gold prospective greenstones.

Greatland has completed a follow-up auger soil geochemical programme in the central parts of the licence area. Results peaked at 23.5ppb gold and define a north-west striking gold anomaly 1.2km long, peaking at 23.5ppb gold, situated along the western boundary of the greenstone sequence. Background levels of gold in soils at the project are 1ppb or less. Reconnaissance drill testing of this large surface anomaly has been recommended.  

The Company has been granted title to a licence in the north of the project area. Total strike length of greenstone covered by the project is 21km. The new licence area contains several electromagnetic anomalies defined by an airborne survey flown by a previous explorer. No surface geochemical work has been completed within the new licence area to date.

Further work at Lackman Rock will focus on the outlined gold anomaly in the central parts of the project area where reconnaissance drilling will be carried out. Additional auger sampling is required through the new licence area and this is scheduled to be carried out in the coming months.

Callum Baxter, CEO of Greatland Gold, commented: "We remain focused on developing our licences through comprehensive exploration work with a view to realising their potential value. Additional promising targets have been secured in the Bromus and Lackman Rock licence areas which further adds to their significance in what is a prolific gold producing region. The gold price remains strong providing us with further encouragement to pursue our activities into 2013."

 

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 surface sample results were prepared by Genalysis Laboratory Services' Perth facility using single stage pulverisation, and assayed at Genalysis Laboratory Services' Perth laboratory. A 25g Aqua Regia digest with enhanced 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/Richard Gotla
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 an exploration office in Australia.

Glossary

ppb - parts per billion. 1000 ppb gold (Au) equals 1 ppm gold (Au). 1ppm gold (Au) equals 1 g/t gold (Au).

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Source: Greatland Gold PLC via Thomson Reuters ONE

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