Significant Findings Confirmed at Bromus Project

RNS Number : 1741N

Greatland Gold PLC

14 May 2015

 



14 May 2015

Greatland Gold plc

("Greatland" or "the Company")

Significant Findings Confirmed at Greatland Gold's Bromus Project

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

Highlights

·     Ground electromagentic survey to identify nickel sulphide targets is complete

·     Survey confirmed one very substantial nickel sulphide bedrock conductor (an area of highly conductive material in the bedrock) and three others which require drill testing

·     Drilling is scheduled for Q3 2015

Callum Baxter, CEO, commented: "We are pleased to announce the completion of our ground electromagnetic survey at the Bromus Project, which targeted nickel sulphides. We have reviewed and modelled the data, which confirms the presence of a very substantial bedrock conductor in the north of our target area, as well as three others that require drill testing. We are excited to have succeeded in identifying such significant bedrock conductors at the project. The next step is drilling and we are already working to secure the relevant Government approvals."

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.

Recently, we completed a fixed loop ground electromagnetic survey 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 was approximately 1.5 km x 1.0 km, with receiver traverses 100m apart across the ultramafic. We received data of extremely high quality, with excellent ground penetration.

The data confirmed a very significant bedrock conductor in the north of the survey area. Modelling shows that the conductor is a sizeable target; it is well defined and covers 180m x 65m. Three other significant conductors have also been identified in the north and central parts of the project area, with a size of approximately 100m x 80m. Modelled depth to the top of the four targets is relatively shallow, between 130 and 175m below the surface.

Such large bodies of conductive material are typically signs of sulphide deposits. The tenor (or grade) of nickel in these deposits can only be determined by drilling. Greatland aims to drill these four targets during Q3 2015 and will immediately seek approvals for drilling from the relevant Government authorities.

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 / Olivia Simpson

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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