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Greatland Gold PLC (GGP)

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Thursday 21 June, 2018

Greatland Gold PLC

Greatland Discovers Gold Nuggets at Black Hills

RNS Number : 1276S
Greatland Gold PLC
21 June 2018
 

21 June 2018

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

 

Greatland Gold plc

("Greatland" or "the Company")

 

Greatland Discovers Gold Nuggets on Maiden Field Campaign at Black Hills project

 

Multiple gold nuggets and gold pieces in bedrock discovered in first few days of maiden exploration programme at Black Hills

 

Greatland Gold plc (AIM: GGP), the precious and base metals exploration and development company, is pleased to announce that multiple pieces of gold have been recovered from surface in the first few days of field work at its 100% owned Black Hills licence in the Paterson region of Western Australia.

 

Further to the announcement of 18 June 2018, field work commenced earlier this week at the Black Hills licence. The field team commenced work at the Saddle Reefs area collecting rock chip samples and locating historical access. Their observations reveal the area is obviously prospective with numerous indications of mineralisation in bedrock. Gossanous samples have been collected from outcrop and gold nuggets have been found within thin sand cover at the prospect. Primary gold mineralisation has also been located in bedrock where gold pieces in rock chip samples are present. These finds are significant considering the short time field crews have been active at the site. Only 150 metres of strike at Saddle Reefs has been covered so far and the remaining several hundred metres will be traversed over the next week. Rock chip samples are being collected and will be analysed with standard chemical assay techniques, and a further update will be provided in due course.

 

A photo of recently collected samples, including gold pieces in bedrock and gold nuggets, from the Black Hills licence can be found under the 'Black Hills' section of the Paterson project page on the Company's web site at www.greatlandgold.com/paterson/.

 

The Black Hills gold project covers 25 square kilometres and is located in the Paterson Region of Western Australia and lies adjacent to the Company's Havieron licence. Previous work by companies including Newcrest Limited has outlined several zones of gold mineralisation in rocks equivalent to those of the large Telfer gold deposit (27m oz) which lies 30km to the west. Management believes that the gold mineralisation identified to date on the Black Hills licence may extend into the north western portion of Greatland's Havieron licence.

 

Gervaise Heddle, Chief Executive Officer, commented: "We are very pleased by the rapid discovery and collection of gold from surface within days of the field work commencing. These early results from Greatland's first and ongoing exploration campaign at Black Hills far exceed our initial expectations.

 

"We are currently reviewing a range of options to accelerate exploration at Black Hills and we look forward to providing a further update in due course."

 

Overview of Paterson Project and Black Hills licence

 

The Company's Paterson project comprises the Havieron, Paterson Range East, and Black Hills licences, located in the Paterson region of northern Western Australia. The three licences collectively cover more than 385 square kilometres prospective for iron-oxide-copper-gold ("IOCG") deposits and Telfer style gold deposits.

 

The Paterson region hosts several large gold and copper deposits such as Telfer (27m oz gold) and Nifty (2m t copper). The region has been subject to more recent exploration which has outlined several other deposits including Magnum (Au), Calibre (Au), O'Callaghans (Cu) and Maroochydore (Cu). The region is remote, however infrastructure is good with several operating mines, roads, formed tracks and rail networks nearby which branch out from the regional industrial hub of Port Hedland 500km to the west.

 

The Black Hills licence, E45/4512, lies 30 km east of the large Telfer gold mine (27m oz). Black Hills is a granted exploration licence that covers 25 square kilometres and sits adjacent to the Company's Havieron exploration licence. The Black Hills licence is regarded as having high potential to host gold deposits similar to Telfer. There has been a reasonable amount of historical exploration work at Black Hills with several discrete zones of mineralisation identified over 5km of strike. Rock chip samples have returned up to 90g/t gold, and commonly 20g/t gold, with free (visible) gold in places. Drill intercepts include 3m at 9.14g/t gold from 26m downhole (incl. 1m at 21.2g/t from 27m (CBR073)), 1m at 10.0g/t gold from 16m (CBH138), 1m at 4.93g/t from 12m (CBH071) and 1m at 3.12g/t from 37m (NBH004). Historical drill spacing appears quite broad with holes at least 400m apart, some up to 600m.

 

Gold prospects identified to date extend from Black Hills into the north western parts of the Havieron licence. Proterozoic sandstone and carbonate rocks of the Yeneena Group formations are present, including the Telfer Formation, in a domal structure which is the equivalent geology to that of the large Telfer gold deposit (27m oz) located 30km to the west.

 

A large amount of historical surface exploration data for the Black Hills area has been compiled and merged into the Company's database. This is the first time all data has been merged and interrogated with modern technologies. Gold mineralisation has been outlined at several prospects throughout the licence including Saddle Reefs, Eastern, Rogers and Northern Granites (within an area of 6.5km x 2km).

 

Strong surface gold mineralisation is present at the Saddle Reefs prospect with rock chips including 55.6g/t, 20.0g/t, 19.65g/t, 18.45g/t and 17.0g/t over an area of approximately 1,400m x 800m. The zone has a north-westly trend and sporadic drilling with results including 3m at 9.14g/t gold from 26m downhole, including 1m at 21.2g/t from 27m, in hole CBR073. This zone is in the core of an anticlinal feature and, overall, is gold prospective over a strike length of approximately 3km.

 

At the Eastern prospect a linear zone of gold mineralised stratigraphy is apparent over a strike of approximately 4km. Surface rock chip results include 1.9g/t gold, 1.2g/t gold and 1.0g/t gold. Broad spaced drilling along the zone has returned results including 1m at 10.0g/t gold from 16m (CBH138), 1m a 4.93g/t from 12m (CBH071) and 1m at 3.12g/t from 37m (NBH004). The mineralisation appears to track along a structural contact and the focus will be on identifying the higher grade mineralisation along this trend.

 

The other prospects of Rogers and Northern Granites show prospective gold mineralisation at surface with rock chip results including 50.2g/t and 10.45g/t at Rogers and 6.9g/t at Northern Granites. Drill testing is limited but results have included 1m at 1.48g/t from 38m (NBH008) at Rogers and 1m at 2.35g/t gold from 5m (CBH253) at Northern Granites.

 

As announced to market on 18 June 2018, the Company commenced field work at Black Hills early this week. The field team has been initially tasked to work at the Saddle Reefs area collecting rock chip samples and locating historical access. Productivity so far has been good. The host sequence of Proterozoic sandstones and limestones outcrop through relatively thin sand cover and their observations reveal the area is obviously prospective with numerous indications of mineralisation in bedrock. Gossanous samples have been collected from outcrop and gold nuggets have been found in thin sand cover at the prospect, along with a primary source of gold mineralisation in bedrock where gold pieces in rock chip samples are present. These finds are significant considering the limited time field crews have been active at the site. Rock chip samples are being collected and will be analysed with standard chemical assay techniques.

 

Selected photos of recently collected samples, including gold in bedrock and gold nuggets, from the Black Hills licence can be found under the 'Black Hills' section of the Paterson project page on the Company's web site at www.greatlandgold.com/paterson/

 

So far at Saddle Reefs, the field crew have covered a strike of 150m. The entire Saddle Reefs prospect has not yet been covered; several hundred metres remain to be traversed. The field crew will continue their work along strike at Saddle Reefs before moving to other areas within the Black Hills licence including Rogers, Eastern and Northern Granites. Results of field work will outline drill targets at the Black Hills project.

 

Additional information on the Black Hills licence can be found under 'Paterson' on the Company web site at www.greatlandgold.com/projects.

 

 

Competent Person:

 

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) and under the AIM Rules - Note for Mining and Oil & Gas Companies. 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.

 

 

Enquiries:

 

Greatland Gold PLC

Callum Baxter/Gervaise Heddle

Tel: +44 (0)20 3709 4900

Email:  [email protected]

www.greatlandgold.com

 

SPARK Advisory Partners Limited (Nominated Adviser)

Mark Brady/James Keeshan/Andrew Emmott

Tel: +44 (0)20 3368 3550

 

SI Capital Limited (Broker)

Nick Emerson/Alan Gunn

Tel:  +44 (0)14 8341 3500

 

Luther Pendragon (Media and Investor Relations)

Harry Chathli/Ana Ribeiro/Alexis Gore

Tel: +44 (0)20 7618 9100

 

 

Notes for Editors:

 

Greatland Gold plc (AIM: GGP) is a London listed natural resource exploration and development company with a current focus on gold, nickel and cobalt exploration projects.  

 

The Company has six main projects; four situated in Western Australia and two in Tasmania.  All projects are 100% owned by Greatland or Greatland has the right to take 100% ownership.

 

Greatland is seeking to identify large mineral deposits in areas that have not been subject to extensive exploration previously.  It is widely recognised that the next generation of large deposits will come from such under-explored areas and Greatland is applying advanced exploration techniques to investigate a number of carefully selected targets within its focused licence portfolio.

 

The Company is also actively investigating a range of new opportunities in precious and strategic metals and will update the market on new opportunities as and when appropriate.


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