TIDMGGP
RNS Number : 8615U
Greatland Gold PLC
17 July 2018
17 July 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")
Black Hills: New Exploration Programme, Drilling Approvals
Received
Greatland's exploration plans accelerate at Black Hills post
collection of multiple pieces of gold and gold nuggets at
surface
Greatland Gold plc (AIM: GGP), the precious and base metals
exploration and development company, is pleased to announce a new
exploration programme at its 100% owned Black Hills licence in the
Paterson region of Western Australia.
Highlights of New Exploration Programme
-- New exploration programme at Black Hills to commence next
week following the receipt of drilling approvals from the
Australian Department of Mines, Industry Regulation and Safety;
-- First phase of new exploration programme includes plans for a
3D Induced Polarisation ("3DIP") survey covering a strike length of
1,200 metres over the high grade gold mineralised zone identified
at the Saddle Reefs prospect during recent field work (see
announcements dated 21 June 2018 and 2 July 2018) and areas
immediately to the north and south of that zone;
-- A review of historical Induced Polarisation ("IP") data
collected at Black Hills has highlighted the potential for 3DIP
geophysics to assist in outlining the orientation and depth
potential of gold mineralisation that has been identified at
surface;
-- 3DIP survey is expected to take approximately two weeks to
complete and survey data will be processed with modern inversion
techniques to provide detailed 3D chargeability and resistivity
models which will assist with drill programme planning.
Gervaise Heddle, Chief Executive Officer, commented: "Recent
exploration success at Black Hills, including the collection of
multiple pieces of gold and gold nuggets at surface, has clearly
highlighted the licence's prospectivity for high-grade,
near-surface gold mineralisation. The identification of visible
gold at surface means that exploring Black Hills' potential will be
a relatively low-cost and low-risk endeavour, but one with
substantial upside potential.
"We are delighted to have Black Hills and Havieron as part of
our portfolio of 100% owned projects, and we believe that both of
these high priority targets have the potential to deliver
significant shareholder value in the long term."
The Black Hills licence covers 25 square kilometres in the
Paterson Region of Western Australia and lies adjacent to the
Company's Havieron licence. Previous work by companies including
Newcrest Mining Limited has outlined several zones of gold
mineralisation in rocks equivalent to those of the large Telfer
gold deposit which lies 30km to the west.
Greatland's first exploration campaign at Black Hills recovered
multiple gold nuggets at surface and established the presence of
gold mineralisation at surface over a 200 metre strike length at
the Saddle Reefs prospect. Selected photos of recently collected
samples 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/.
A new landholding and prospects map covering the broader
Paterson region in Western Australia will be made available at
www.greatlandgold.com/paterson/ in the next few days.
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 and Nifty. 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. 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 RC 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
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.
The Company recently commenced field work at Black Hills in June
2018 (see announcement dated 18 June 2018). The field team has been
working at several prospects, including Saddle Reefs and Rogers,
collecting rock chip samples and locating historical access. The
host sequence of Proterozoic sandstones and limestones outcrop
through relatively thin sand cover and field observations reveal
the areas are obviously prospective with numerous indications of
mineralisation in bedrock. Gossanous samples are being collected
from outcrop and gold nuggets have been found in thin sand cover at
Saddle Reefs, along with a primary source of gold mineralisation in
bedrock where gold pieces in rock chip samples are present.
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/
At Saddle Reefs, gold in bedrock has been found over a strike of
200m, with the northern and southern extent of the mineralised
sequence being obscured by a thin veneer of sand cover. Rock chip
samples have been collected and will be analysed with standard
chemical assay techniques. Results will be made available in the
coming weeks.
Following the identification and recovery of significant
gossanous and gold bearing surface samples at Saddle Reefs, the
Company reviewed historical Induced Polarisation ("IP") data
collected at Black Hills and this has highlighted the potential for
modern 3D Induced Polarisation ("3DIP") geophysics to assist in
outlining the orientation and depth potential of mineralisation at
the prospect. The 3DIP survey will cover approximately 1,200m of
strike and detailed 3D resistivity and chargeability models will be
created using modern inversion techniques. The survey is scheduled
to commence next week and will take approximately two weeks to
complete. The resulting 3DIP subsurface models will be used in
conjunction with surface geochemical and geological information to
define drill targets.
The Company has received approval for a drilling programme at
Black Hills from the Western Australian Department of Mines,
Industry Regulation and Safety ('DMIRS'). Further details regarding
Greatland's first drilling programme at Black Hills will be
provided after completion of the 3DIP work.
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
Gervaise Heddle/Callum Baxter
Tel: +44 (0)20 3709 4900
Email: info@greatlandgold.com
www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated Adviser)
Mark Brady/Andrew Emmott/James Keeshan
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.
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.
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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