REG - Greatland Gold PLC - Greatland awarded drilling grant for Ernest Giles

Greatland GoldAnnouncement

20/10/2022 07:00

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RNS Number : 5342D  Greatland Gold PLC  20 October 2022

20 October 2022

 

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Greatland Gold plc
("Greatland" or "the Company")

 

Greatland awarded a drilling grant for Ernest Giles exploration project

 

Greatland receives a grant of up to A$220,000 (£120,000)

under the Western Australian Government's Exploration Incentive Scheme

 

Grant to be used to co-fund exploration at Greatland's 100% owned Ernest Giles
project

 

 

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 Ernest Giles project.

 

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$220,000 (£120,000) to co-fund drilling and mobilisation costs, for
completion before 30 November 2023.

 

Shaun Day, Managing Director of Greatland Gold plc, commented: "This drilling
grant award for the Ernest Giles project will co-fund commencement of a new
exploration programme. Ernest Giles is located in the Yilgarn craton, one of
the most highly mineralised areas in the world and home to numerous gold
deposits. With work advancing to finalise access, this grant then enables
testing of priority targets at Ernest Giles, an underexplored and prospective
part of the Greatland portfolio."

 

About Ernest Giles project

The Ernest Giles project covers a sequence of magnetic greenstone rocks
(Figure 1) typical of the Archean goldfields of Western Australia which host
large gold camps such as Kalgoorlie, Leonora, Laverton, Mt Magnet and Jundee.
The project is located approximately 250km north-east of the town of Laverton.
The gold prospective greenstone sequence at Ernest Giles does not outcrop.
Thickness of the cover sequence ranges from around 120m to more than 300m
across the broader project area. Consequently, with no outcrop, the project
has not been subject to extensive historic exploration activity.

 

Drill testing on the Calanchini licence, focusing on the Meadows prospect
(Figure 2), as outlined in the EIS will be the first priority for Greatland.
Previous drilling has identified favorable Archean hosts rocks for Yilgarn
style shear hosted gold. Ongoing work will include airborne geophysics to
better understand the geology of the entire Ernest Giles belt prior to
systematic drill testing of the resultant priority targets.

 

Additional information on the project can be found on the Company's website at

https://greatlandgold.com/projects/ernest-giles/
(https://greatlandgold.com/projects/ernest-giles/)

 

Figure 1: Location plan showing the Calanchini licence over

a total magnetic intensity image of open file regional magnetic data

 

Figure 2: Meadows Gold prospect and priority targets on open file regional
magnetics.

 

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                                                    info@greatlandgold.com (mailto:info@greatlandgold.com)

 Shaun Day                                                             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/Jack Botros

 Canaccord Genuity (Joint Corporate Broker and Financial Adviser)      +44 (0)20 7523 8000

 James Asensio/Patrick Dolaghan

 SI Capital Limited (Joint Broker)                                     +44 (0)14 8341 3500

 Nick Emerson/ Sam Lomanto

 Gracechurch Group (Media and Investor Relations)                      +44 (0)20 4582 3500

 Harry Chathli/Alexis Gore/Henry Gamble

 

 

Notes for Editors:

 

Greatland Gold plc (AIM:GGP) is a mining development and exploration company
with a focus on precious and base metals.

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 of six projects
across Australia with a focus on becoming a multi-commodity mining company
of significant scale.

 

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