Greatland Gold PLC Drilling approved and set to begin (0817P)
June 03 2015 - 6:38AM
UK Regulatory
TIDMGGP
RNS Number : 0817P
Greatland Gold PLC
03 June 2015
3 June 2015
Greatland Gold plc
("Greatland" or "the Company")
Drilling approved and set to begin at Greatland's Ernest Giles
project
Greatland Gold plc, the mineral exploration and development
company based in Australia, is pleased to announce that it has
received Government approvals to begin drilling at its Ernest Giles
project.
Highlights
-- Greatland has received Government approvals to begin drilling
gold and nickel targets at Ernest Giles
-- Drill access is established and field crews are preparing to begin drilling
Callum Baxter, CEO, commented: "We are delighted to receive
formal Government approvals to drill at several sites within our
Ernest Giles project. The project area itself is virtually
unexplored because it is covered by desert sands and sediments,
making it an exciting prospect. We look forward to updating the
market again once drilling has begun."
Ernest Giles Project, Western Australia
The Ernest Giles project is located in central Western
Australia, covering an area of 945 square kilometres that includes
over 100km of gold and nickel prospective rocks. The area is
covered by desert sands and sediments, making it virtually
unexplored. The region is home to several successful exploration
discoveries such as Tropicana (AngloGold ASX:AGG), which contains
over 7 million ounces, and Yamarna (Gold Road Resources ASX:GOR),
with over 3.5 million ounces.
As announced on 31 March 2015, Greatland intends to drill
several significant gold and nickel targets across the Ernest Giles
licences in Q2 2015; Government approvals allow Greatland to go
ahead with this drilling. These targets include the exciting
surface MMI (mobile metal ion) anomaly at Empress, which peaks at
338ppb Au, and the surface MMI anomaly at Meadows, which peaks at
68ppb Au.[1] Meadows is approximately 400m south of a very
significant area of sulphide and gold mineralisation that Greatland
intersected during previous drilling. Drilling will also be carried
out at the Dromedary structural target in the north of the project
area.
Furthermore, we will begin drilling the new Carnegie nickel
sulphide target which resembles the size and geophysical signature
of the 'Nova' discovery by Sirius Resources NL (ASX:SIR). 'Nova' is
one of the most exciting nickel sulphide discoveries in recent
years.
Greatland has received formal government approvals to begin
drilling. Drill access at Ernest Giles has been established and
field crews are on the ground making further preparations for the
arrival of equipment.
The total number of drill holes and metres that will be drilled
depend on the results that are obtained and the mineralisation that
is intersected. We will begin with four vertical holes, to a depth
of 300m. Preliminary results of the drilling will be available
approximately four weeks after commencement and Greatland will
provide a further update once drilling has begun.
Enquiries:
Greatland Gold PLC
Callum Baxter
Tel +44 (0)20 7747 9980
Email: info@greatlandgold.com
www.greatlandgold.com
Grant Thornton UK LLP (Nomad)
Colin Aaronson / Richard Tonthat
Tel +44 (0)20 7383 5100
SI Capital Limited (Broker)
Nick Emerson / Andy Thacker
Tel +44 (0)14 8341 3500
Finsbury (Media Relations)
Gordon Simpson / Olivia Simpson
Tel +44 (0)20 7251 3801
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. 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
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.
[1] The Mobile Metal Ion (MMI) technique helps locate buried
orebodies using surface samples. MMI results above 1ppb are
considered significant, results above 10ppb are considered very
significant and results above 100ppb are considered
exceptional.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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