Positive Results from Electromagnetic Survey

RNS Number : 8346K

Greatland Gold PLC

21 April 2015

 



21 April 2015

Greatland Gold plc

("Greatland" or "the Company")

Greatland Gold Announces Positive Results from Electromagnetic Survey at the Bromus Project

Greatland Gold plc, the mineral exploration and development company based in Australia, is pleased to announce significant developments at the Company's Bromus project.

Highlights

·     Ground electromagentic survey is underway to identify nickel sulphide targets

·     Preliminary results are positive. We have identified a very significant bedrock conductor (an area of highly conductive material in the bedrock) and several others which require further investigation

Callum Baxter, CEO, commented: "We are pleased to announce that a ground electromagnetic survey has commenced at the Bromus Project, targeting nickel sulphides. Data quality is extremely good and productivity is outstanding. Initial data has identified a very significant bedrock conductor in the north of our target area, as well as several others that require further investigation. We are excited to have succeeded in identifying significant bedrock conductors so early in the programme."

Bromus Project, Western Australia

The Bromus project is located in southern Western Australia, approximately 25km south west of the town of Norseman, and covers approximately 112 square kilometres. Several significant clusters of gold and nickel sulphide deposits lie in the region, such as those at Central Norseman, Kambalda and Widgiemooltha. Greatland owns 100% of the project.

Last year, a review of detailed airborne geophysics defined a 4.5km long, nickel sulphide prospective ultramafic, with coherent elevated surface geochemistry to 2,690ppm Ni, in the centre of the Bromus project area. This is a sizeable nickel sulphide target which can be explored with common geochemical, electromagnetic and drilling techniques. Field work confirmed the presence of flow textured ultramafic lithologies and, despite the proximity to other deposits, no previous exploration for nickel sulphides is apparent.

A fixed loop ground electromagnetic survey has commenced over the entire 4.5km strike. The fixed loop technique involves laying out a large transmitter loop and recording the electromagnetic response along grid lines both inside and outside the loop. Here, the loop size is approximately 1.5km x 1.0 km with receiver traverses 100m apart across the ultramafic. High definition ground magnetics are being collected alongside electromagnetic data and the productivity of the field crew is outstanding

Data quality received so far is extremely good, with excellent ground penetration. Most importantly, a significant bedrock conductor has been identified in the north of the survey area. The conductor is well defined over approximately 400m of strike, representing a sizeable target. We have also identified other conductors which we will investigate further with modelling and Greatlnd will test these drill targets during the coming months.

Additional information will be provided once all data has been received and modelling has been completed. We expect this to take approximately two weeks.

Enquiries:

Greatland Gold PLC

Callum Baxter

Tel [phone]

Email:  [e-mail]

www.greatlandgold.com

Grant Thornton UK LLP (Nomad)

Colin Aaronson / Richard Tonthat

Tel [phone]

SI Capital Limited (Broker)

Nick Emerson / Andy Thacker

Tel  [phone]

Finsbury (Media Relations)

Gordon Simpson / Chris Ryall

Tel [phone]

Notes to Editors

Greatland 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 and nickel sulphides. The Company currently has four mineral projects located in Australia, including the Ernest Giles, Bromus, Firetower and Warrentinna projects. The pipeline of projects targets highly prospective areas for large gold and nickel sulphide orebodies. The Company was established in London in 2005 and admitted to AIM in July 2006.

The board seeks to increase shareholder value through the systematic evaluation of its existing resource assets, as well as through 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

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). 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.

 

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