REG - Greatland Gold PLC - Greatland commences 2022 Exploration Programme

Greatland GoldAnnouncement

30/06/2022 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220630:nRSd7502Qa&default-theme=true

RNS Number : 7502Q  Greatland Gold PLC  30 June 2022

30 June 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 commences 2022 Exploration Programme at 100% owned Paterson projects

 

Drill programme to focus on new conductor targets identified

at Scallywag licence including Pearl, Swan and Swan East

Maiden exploration activities to commence at Rudall and Pascalle licences

 

 

Greatland Gold plc (AIM:GGP), the precious and base metals exploration and
development company, is pleased to announce the commencement of the 2022
exploration programme at its 100% owned projects in the highly prospective
Paterson province of Western Australia.

 

Highlights of 2022 Exploration Programme:

Scallywag:

§ Exploration programme has commenced at Scallywag and leverages a rich
source of geological information and understanding of the area to drill
several promising new conductor targets

§ Drill programme designed to test ground Electro-Magnetic ("EM") conductors
for Telfer style mineralisation at Pearl, Swan and Swan East targets

§ Ultra Fine Fraction soil sampling geochemistry results currently being
integrated into regional geological interpretation and targeting framework

§ Ongoing review of ground EM geophysics data and 2020 airborne
Electro-Magnetic survey to enhance targeting and identify further aerial
anomalies for ground EM follow-up

§ Further analysis of the drilling results from 2021, 2020 and integration
into ongoing basin-wide geophysical and geological modelling to drive further
targeting

§ Heritage clearances completed and access and drill pad clearing underway
ahead of drill programme commencing at Scallywag

Rudall and Pascalle:

§ Maiden exploration drill programme planned for identified targets at
recently acquired Rudall and Pascalle licences

§ Heritage approvals completed at Pascalle and Rudall with access planning
underway

§ Government grant to be used to co-fund exploration at Rudall licence
located 20km southeast of the Havieron gold-copper resource

§ Licences sit in prime locations with Rudall situated 20km south-southeast
of Havieron and Pascalle situated between Havieron and the Newcrest Mining
Telfer gold mine

 

 

 

Shaun Day, Managing Director of Greatland Gold plc, commented: "We are excited
to accelerate Greatland's exploration programme and commence on the ground
activities at our 100% owned projects in the Paterson province of Western
Australia, regarded as one of the world's most prospective frontiers for the
discovery of multi-cycle, tier-one gold-copper deposits.

 

"The 2022 campaign at Scallywag follows encouraging exploration results
reported last year, where four of seven holes intercepted gold mineralisation.
The maiden drill programme at our newly acquired Pascalle and Rudall tenements
is equally significant with Rudall considered to be prospective for Havieron
and Telfer style gold-copper occurrences, while Pascalle sits directly between
the two world class discoveries of Havieron and Telfer.

 

"We look forward to unlocking value by systematically progressing exploration
through these Havieron and Telfer like priority targets to take advantage of
our strong position in this prospective region."

 

 

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/)

 

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/Sam Lomanto

 Luther Pendragon (Media and Investor Relations)                           +44 (0)20 7618 9100

 Harry Chathli/Alexis Gore

 

Further Information on the 2022 Paterson Exploration Programme

Swan

Exploration drill hole SWD001, drilled in 2021 returned geochemically
significant Au assays (reported in RNS dated 5 April 2022). Drilling did not
adequately explain the source of the airborne electromagnetic anomaly. Ground
EM surveying completed in 2021 helped to define constrained conductor targets
in the Swan area. Drill testing of these ground EM conductor plates to the
east and west of Swan will commence this season with two holes planned.

Pearl

Similar ground EM conductor plates were identified in the 2021 survey at Pearl
(A32), reported in RNS dated 5 April. Additional ground EM is currently
underway to further refine the target conductors, and drilling is scheduled to
commence shortly.  At least two Reverse Circulation ("RC") and Diamond Drill
("DD") holes are planned and will be drilled in the coming weeks.

 

Swan East

Conductors were also identified at A34 and A35, further to the east of Swan,
in similar geological settings.  A short ground EM follow up survey has just
been completed at A35 and the results are being integrated into the modelling
to refine drill targets.  Up to 4 RC/DD holes are planned on these targets.

In addition to drill testing the ground EM targets, geophysical modelling and
data processing of the ground and aerial EM, gravity and magnetic datasets is
continually underway, looking to identify further drill targets.  Surface
soil sampling across existing tracks over the Ground EM target areas was
recently completed, to test effectiveness of it as abroad screening method
over potentially mineralised bedrock, as found at SWD001.  Analysis of the
results is underway.

 

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 planned this year to refine the Ramses
anomaly and improve targeting utilising the Exploration Incentive Scheme
("EIS") Government grant to co-fund the exploration drill program.

 

Pascalle

The Pascalle tenement (E45/5316) covers a 75km(2) area located in the heart of
the Paterson Province approximately equidistant between the world class
Havieron gold-copper deposit and Newcrest Mining's Telfer Gold Mine.

The Pascalle tenement remains underexplored as bedrock sits beneath 20-50m of
cover limiting the application of traditional surface exploration methods.
 The area has a number of key geological similarities with other major
discoveries in the region including a heat source (O'Callaghan's Granite) to
generate circulation of metal rich fluids, hydrothermal pathways along
basement faults and both structural and stratigraphic traps to concentrate
mineral deposition. Review of historical data, target generation and
exploration work program planning is underway.

 

 

 

Juri JV (Black Hills and Paterson Range East Tenements)

 

RC drilling has commenced on the Juri JV project at the A27 Black Hills North
target, identified from previous gravity, magnetics and IP data modelling, and
further delineated by 2021 ground EM surveying (RNS dated 31 May 2022).  A
diamond drill rig is planned to arrive in the next few weeks to continue the
program at the Paterson Range East tenement targets Tama and A9.

In addition to drill testing the ground EM targets, geophysical modelling and
data processing of the ground and aerial EM, gravity and magnetic datasets is
continually underway, looking to identify further drill targets.  Surface
soil sampling across existing tracks over the JV tenement areas was recently
completed, to test effectiveness of it as abroad screening method over
potentially mineralised bedrock, as found at BHD003 (2021 program, RNS dated
23 Dec 2021).  Analysis of the results is underway.

 

Competent Person:

 

Information in this announcement that relates to historical exploration
results has been extracted from the following announcements:

 

"Second year exploration programme at Juri JV" dated 31 May 2022

"Results from 2021 Exploration Programme Scallywag
(https://www.londonstockexchange.com/stock/GGP/news-article/GGP/results-from-2021-exploration-programme-scallywag/15398565)
" dated 5 April 2022

"Final Results of Exploration programme at Juri JV" dated 23 December 2021

"Drilling Commences at 100% owned Scallywag Licence" dated 24 August 2021

"Scallywag Drill Results" dated 19 April 2021

"Initial Scallywag Results, New Targets Identified" dated 20 January 2021

"Greatland commences drilling at Scallywag prospect" dated 19 August 2020

"New Drill Targets at Scallywag" dated 30 October 2019

"Greatland Advances Exploration at Scallywag" dated 15 August 2019

"Paterson Project - Scallywag Target's MMI Results" dated 23 October 2018

 

Information in this announcement has been reviewed and approved by
Mr Damien Stephens, a Member of the Australian Institute of Mining and
Metallurgy (AUSIMM), who has more than 25 years relevant industry
experience. Mr Stephens, an employee of the Company, has sufficient
experience relevant to the style of mineralisation, type of deposit under
consideration, and to the activity which he is undertaking 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,
which outline standards of disclosure for mineral projects. Mr
Stephens consents to the inclusion in this announcement of the matters based
on this information in the form and context in which it appears. Mr
Stephens confirms that the Company is not aware of any new information or
data that materially affects the information included in the relevant market
announcements, and that the form and context in which the information has been
presented has not been materially modified.

 

Additional information on the project can be found on the Company's website at
https://greatlandgold.com/projects/scallywag/
(https://greatlandgold.com/projects/scallywag/) ,
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/)

 

 

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct 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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEBLBXLQLEBBE