REG - Greatland Gold PLC - Drilling grant awarded for exploration project
10/05/2022 07:00
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RNS Number : 9077K Greatland Gold PLC 10 May 2022
10 May 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
MARKET ABUSE REGULATIONS. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE
PUBLIC DOMAIN.
Greatland Gold plc
("Greatland" or "the Company")
Greatland awarded a drilling grant for Paterson province exploration project
Greatland receives a grant of up to A$200,000 (£115,000)
under the Western Australian Government's Exploration Incentive Scheme
Grant to be used to co-fund exploration at Greatland's 100% owned Rudall
licence,
located 20km southeast of the Havieron gold-copper resource
Greatland Gold plc (AIM:GGP), a mining development and exploration company
with a focus on precious and base metals, is pleased to announce it has been
awarded a grant from the Western Australian Government to co-fund exploration
drilling and mobilisation costs at its 100% owned Rudall licence in the
Paterson province.
The grant awarded is the result of a successful application under the
Exploration Incentive Scheme ("EIS"). Greatland is eligible to receive a
grant up to A$200,000 (£115,000) to co-fund drilling and mobilisation costs,
within 12 months of the grant.
Shaun Day, Managing Director of Greatland Gold plc, commented: "The drilling
grant for the Rudall licence will accelerate our programme to test targets in
this area of the Paterson. Testing of priority targets delivers the
opportunity to unlock the exploration option value of the portfolio."
About Rudall
The Rudall licence covers an area of approximately 65 square kilometres
approximately 20km south-southeast of Greatland's Havieron gold-copper
resource. The licence is considered to be prospective for Havieron and
Telfer style gold/copper occurrences.
Greatland has completed geophysical modelling to enhance preliminary targets
identified at the Rudall licence, including the Ramses magnetic anomaly. The
modelling suggests the depth to top of the magnetic anomaly is approximately
700m below surface.
Further geophysical survey work is being planned this year to refine the
Ramses anomaly before an exploration drill program is undertaken, utilising
the EIS grant to co-fund the drilling component of the 2022 exploration work
programme.
Additional information on the project can be found on the Company's website at
https://greatlandgold.com/projects/rudall-and-canning/
(https://greatlandgold.com/projects/rudall-and-canning/)
In addition to this release, a PDF version of this report with supplementary
information can be found at the Company's website:
www.greatlandgold.com/media/jorc/ (https://greatlandgold.com/media/jorc/)
About the Exploration Incentive Scheme
The Co-funded Government and Industry Drilling Program is being funded by the
Western Australian State Government, to provide a stimulus to geoscience
exploration and contribute to the economic development of regional areas of
Western Australia. Geoscience exploration includes mineral, oil and gas, and
geothermal exploration with drilling to be undertaken in underexplored
areas. The program is administered by the Western Australian Department of
Mines, Industry Regulation and Safety.
Enquiries:
Greatland Gold PLC +44 (0)20 3709 4900
Shaun Day info@greatlandgold.com (mailto:info@greatlandgold.com)
www.greatlandgold.com (http://www.greatlandgold.com)
SPARK Advisory Partners Limited (Nominated Adviser) +44 (0)20 3368 3550
Andrew Emmott/James Keeshan
Berenberg (Joint Corporate Broker and Financial Adviser) +44 (0)20 3207 7800
Matthew Armitt/Jennifer Lee/Detlir Elezi
Canaccord Genuity (Joint Corporate Broker and Financial Adviser) +44 (0)20 7523 8000
James Asensio/Patrick Dolaghan
Hannam & Partners (Joint Corporate Broker and Financial Adviser) +44 (0)20 7907 8500
Andrew Chubb/Matt Hasson/Jay Ashfield
SI Capital Limited (Joint Broker) +44 (0)14 8341 3500
Nick Emerson/Alan Gunn
Luther Pendragon (Media and Investor Relations) +44 (0)20 7618 9100
Harry Chathli/Alexis Gore
Notes for Editors:
Greatland Gold plc (AIM:GGP) is a mining development and exploration company
with a focus on precious and base metals. The Company's flagship asset is the
world-class Havieron gold-copper deposit in the Paterson region of Western
Australia, discovered by Greatland and presently under development in Joint
Venture with Newcrest Mining Ltd.
Havieron is located approximately 45km east of Newcrest's Telfer gold mine
and, subject to positive decision to mine, will leverage the existing
infrastructure and processing plant to significantly reduce the project's
capital expenditure and carbon impact for a low-cost pathway to development.
An extensive growth drilling programme is presently underway at Havieron with
a maiden Pre-Feasibility Study released on the South-East crescent on 12
October 2021. Construction of the box cut and decline to develop the Havieron
deposit commenced in February 2021.
Greatland has a proven track record of discovery and exploration success. It
is pursuing the next generation of tier-one mineral deposits by applying
advanced exploration techniques in under-explored regions. The Company is
focused on safe, low-risk jurisdictions and is strategically positioned in the
highly prospective Paterson region. Greatland has a total six projects across
Australia with a focus on becoming a multi-commodity mining company of
significant scale.
JORC Code, 2012 Edition - Table 1 report template
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation Commentary
Sampling techniques · Nature and quality of sampling (eg cut channels, random chips, or · No sampling carried out
specific specialised industry standard measurement tools appropriate to the
minerals under investigation)
· Include reference to measures taken to ensure sample representivity
and the appropriate calibration of any measurement tools or systems used.
· Aspects of the determination of mineralisation that are Material to
the Public Report.
· In cases where 'industry standard' work has been done this would be
relatively simple (eg 'reverse circulation drilling was used to obtain 1 m
samples from which 3 kg was pulverised to produce a 30 g charge for fire
assay'). In other cases more explanation may be required, such as where there
is coarse gold that has inherent sampling problems. Unusual commodities or
mineralisation types (eg submarine nodules) may warrant disclosure of detailed
information.
Sampling techniques · MagSPEC Airborne magnetics & radiometrics Program · 50m line spaced, 090 - 270(o) orientation; 500m spaced tie lines
(0-180(o) ori) and 30m sensor height; 1,603 line km.
Magnetometer details:
20Hz sample rate (~3.5m)
Novatel OEM DGPS receiver
G-823A caesium vapour magnetometer
0.001nT resolution; 0.01nT sensitivity
3-axis fluxgate magnetometer
Gamma-Ray Spectrometer
32L crystal volume
1024 channels
2Hz sample rate (~35m)
Multi-peak automatic gain
Altimeters - Bendix/King KRA405 radar altimeter:
Resolution 0.3m
Sample Rates - 20Hz
Range 0 - 760m
Altimeters - Renishaw ILM-500R laser altimeter:
Resolution 0.01m
Sample Rates - up to 20Hz
Range 0 - 500m
Barometric Pressure Sensor
Accuracy - RSS +/- 0.25% FS
Range - 600 - 1100hPa
Magnetic Base Stations
GEM GSM-19 Overhauser & Scintrex Envi-Mag proton precession base station
magnetometers:
Resolution - 0.01/0.1nT
Accuracy - 0.1/0.5nT
Sample Rate - 1.0/0.5Hz
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary · No drilling performed
air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or
standard tube, depth of diamond tails, face-sampling bit or other type,
whether core is oriented and if so, by what method, etc).
Drill sample recovery · Method of recording and assessing core and chip sample recoveries · No drill sampling completed
and results assessed.
· Measures taken to maximise sample recovery and ensure
representative nature of the samples.
· Whether a relationship exists between sample recovery and grade and
whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material.
Logging · Whether core and chip samples have been geologically and · N/A
geotechnically logged to a level of detail to support appropriate Mineral
Resource estimation, mining studies and metallurgical studies.
· Whether logging is qualitative or quantitative in nature. Core (or
costean, channel, etc) photography.
· The total length and percentage of the relevant intersections
logged.
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core · N/A
taken.
· If non-core, whether riffled, tube sampled, rotary split, etc and
whether sampled wet or dry.
· For all sample types, the nature, quality and appropriateness of
the sample preparation technique.
· Quality control procedures adopted for all sub-sampling stages to
maximise representivity of samples.
· Measures taken to ensure that the sampling is representative of the
in situ material collected, including for instance results for field
duplicate/second-half sampling.
· Whether sample sizes are appropriate to the grain size of the
material being sampled.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and · MAGNETICS SURVEY - Compensation box flown prior to survey; GPS
laboratory procedures used and whether the technique is considered partial or accuracy tests; swoop tests for altimeters; diurnal base station monitoring.
total. Processing - parallax correction, diurnal filtering & subtraction, IGRF
correction, tie line levelling, micro levelling
· For geophysical tools, spectrometers, handheld XRF instruments,
etc, the parameters used in determining the analysis including instrument make
and model, reading times, calibrations factors applied and their derivation,
etc.
· Nature of quality control procedures adopted (eg standards, blanks,
duplicates, external laboratory checks) and whether acceptable levels of
accuracy (ie lack of bias) and precision have been established.
Verification of sampling and assaying · The verification of significant intersections by either independent · N/A
or alternative company personnel.
· The use of twinned holes.
· Documentation of primary data, data entry procedures, data
verification, data storage (physical and electronic) protocols.
· Discuss any adjustment to assay data.
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar · Geophysical surveys provided in the Geocentric Datum of Australian
and down-hole surveys), trenches, mine workings and other locations used in (GDA94 Zone 51) or WGS84 SUTM Zone 51
Mineral Resource estimation.
· Specification of the grid system used.
· Quality and adequacy of topographic control.
Data spacing and distribution · Data spacing for reporting of Exploration Results. · N/A
· Whether the data spacing and distribution is sufficient to
establish the degree of geological and grade continuity appropriate for the
Mineral Resource and Ore Reserve estimation procedure(s) and classifications
applied.
· Whether sample compositing has been applied.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of · N/A
possible structures and the extent to which this is known, considering the
deposit type.
· If the relationship between the drilling orientation and the
orientation of key mineralised structures is considered to have introduced a
sampling bias, this should be assessed and reported if material.
Sample security · The measures taken to ensure sample security. · N/A
Audits or reviews · The results of any audits or reviews of sampling techniques and · No audits or reviews have been completed.
data.
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including · The Rudall tenement E45/5533 is 100% owned by Greatland Pty Ltd.
agreements or material issues with third parties such as joint ventures,
partnerships, overriding royalties, native title interests, historical sites, · The tenement is subject to a Land Access Agreement (LAA) with
wilderness or national park and environmental settings. Western Desert Lands Aboriginal Corporation;
· The security of the tenure held at the time of reporting along with
any known impediments to obtaining a licence to operate in the area.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · One drill hole targeting potash brines collared 5km West of the
Ramses Geophysical target was completed by Reward Minerals in 2014 (refer
WAMEX report A106582). Hole DWRC1455 logged Cainozoic cover to approximately
75m and Permian Paterson Fm to end of hole at to 144m depth.
· No other known previous exploration has been carried out on the
tenement.
· GSWA seismic line LN211 (18GA-KB1) was completed through E45/5533
2.5kms south of the Ramses target.
Geology · Deposit type, geological setting and style of mineralisation. · Exploration is for intrusion related Au-Cu deposits similar to
Telfer, Havieron and Winu, all located in Neo-Proterozoic Yeneena Group
sediments of the Paterson Province, Western Australia
Drill hole Information · A summary of all information material to the understanding of the · N/A
exploration results including a tabulation of the following information for
all Material drill holes:
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level - elevation above sea level in metres) of
the drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.
· If the exclusion of this information is justified on the basis that
the information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly explain why
this is the case.
Data aggregation methods · In reporting Exploration Results, weighting averaging techniques, · N/A
maximum and/or minimum grade truncations (eg cutting of high grades) and
cut-off grades are usually Material and should be stated.
· Where aggregate intercepts incorporate short lengths of high grade
results and longer lengths of low grade results, the procedure used for such
aggregation should be stated and some typical examples of such aggregations
should be shown in detail.
· The assumptions used for any reporting of metal equivalent values
should be clearly stated.
Relationship between mineralis-ation widths and intercept lengths · These relationships are particularly important in the reporting of · N/A
Exploration Results.
· If the geometry of the mineralisation with respect to the drill
hole angle is known, its nature should be reported.
· If it is not known and only the down hole lengths are reported,
there should be a clear statement to this effect (eg 'down hole length, true
width not known').
Diagrams · Appropriate maps and sections (with scales) and tabulations of · Maps are provided in Figure 1 and 2. No significant discovery is
intercepts should be included for any significant discovery being reported reported and no sections are provided.
These should include, but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
Balanced reporting · Where comprehensive reporting of all Exploration Results is not · The reporting is considered balanced
practicable, representative reporting of both low and high grades and/or
widths should be practiced to avoid misleading reporting of Exploration
Results.
Other substantive exploration data · Other exploration data, if meaningful and material, should be · No other substantive exploration data other than that provided in
reported including (but not limited to): geological observations; geophysical the figures.
survey results; geochemical survey results; bulk samples - size and method of
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances.
Further work · The nature and scale of planned further work (eg tests for lateral · Further geophysical surveying and interpretation is planned before
extensions or depth extensions or large-scale step-out drilling). potential drilling of any defined targets.
· Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
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