20 December 2011
Greatland Gold plc
("Greatland"Â or "the Company")
Operational Update and 2012 Outlook
Greatland Gold plc, the gold focused mineral exploration and development company
based in Australia, today announces an operational update and 2012 outlook on
its gold and nickel projects in Tasmania and Western Australia.
Ernest Giles Project (gold), Central Western Australia
The Ernest Giles Project comprises three contiguous tenements covering an area
of 948sq km in central Western Australia. The Company has an improved
understanding of the mineralised greenstone belt hosting the project and a
large, strategic landholding. Greatland also has encouraging first phase
exploration in the historic gold region. Within the 2012 programme, drilling
will commence on a number of targets throughout the licences and the Company
will be drilling in the area where gold was previously discovered by the
Company. The highest priority for the Company during 2012 will be the Ernest
Giles Project.
Firetower Project (gold), Northern Tasmania
The Firetower Project comprises four contiguous tenements covering an area of
265 sq km located 65km west of Launceston in Northern Tasmania. The Company has
an initial JORC inferred resource of 90,000oz gold. The project is operated
under a Farm In agreement with Unity Mining Limited which was signed in October
2011. This allows Unity Mining to earn up to 75% of the Firetower Gold project
for an expenditure of A$7mil over a 5.5 year period. Since 2006, 25 holes have
been drilled over 2,341m. The drilling programme in 2012 is planned with a view
to increase the gold resource.
Warrentinna Project (gold), North Eastern Tasmania
The Warrentinna Project covers four historic goldfields of Warrentinna,
Forester, Southern Cross and Waterhouse in North Eastern Tasmania. A reverse
circulation drilling programme was completed at the Derby North prospect earlier
this year, and 27 holes have been drilled for 2,369m since 2008. The Company has
single metre mineralised intercepts up to 103g/t gold and further drilling is
planned in 2012. Surface sampling and mapping will be completed on other gold
occurrences within the Warrentinna licences, and discussions are underway with
regard to third party investment in the project that may culminate in a Farm In
/ JV deal for the project.
Other Projects (gold and nickel)
These licences are prospective for gold and nickel and are near to operating
gold and nickel mines.
-Â Â Â Â Â Â Â Â Bromus project, Western Australia
The Bromus exploration license covers 140 sq km in the prolific mining district
of Norseman in Western Australia. This project is in a highly prospective area
in the Southern Yilgarn near Norseman and has encouraging results of a coherent
gold anomaly over a large area. A maiden auger geochemical soil sampling
programme has been completed at the project during 2011, and the company
anticipates a follow up  auger programme in 2012 focused on drill target
definition.
-Â Â Â Â Â Â Â Â Lackman Rock, Western Australia
The Lackman Rock project is located in the south of the Yilgarn Craton in
Western Australia. An auger geochemical soil sampling programme is planned for
the project to better define elevated gold and nickel values.
-Â Â Â Â Â Â Lisle Project, North-East Tasmania
The Lisle gold Project is located about 30km northeast of Launceston in north-
east Tasmania. The company has conducted surface sampling and mapping. During
2011, 22 holes have been drilled for 470m.
Callum Baxter, CEO of Greatland Gold, commented: "We have made good progress
throughout 2011; drilling several exploration targets across our Australian
asset base. In addition, we have secured a Farm In agreement with Unity Mining
Limited covering our Firetower gold licences. This was a major step in the
development of the project as we look to work with Unity Mining to improve the
current JORC inferred resource. During 2012 we will continue with our drilling
programmes towards establishing resources across our portfolio of assets. Of
particular focus will be the Ernest Giles, Firetower and Warrentinna projects.
We look forward to updating shareholders on progress with these programmes as
well as our non-core exploration projects in 2012."
Enquiries:
Greatland Gold plc
Callum Baxter
Tel  +44 (0)20 7099 5845
Email: Â info@greatlandgold.com
www.greatlandgold.com
Grant Thornton Corporate Finance
Gerry Beaney / Colin Aaronson
Tel  +44 (0)20 7383 5100
Threadneedle communications
Graham Herring/Beth Harris
Tel +44 (0)20 7653 9850
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 Tasmania and
Western Australia.
Greatland has a UK and Australian based board of directors with a head office in
London and exploration offices in Australia.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Greatland Gold PLC via Thomson Reuters ONE
[HUG#1572349]
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