REG - Greatland Gold PLC - Second year exploration programme at Juri JV

Greatland GoldAnnouncement

31/05/2022 07:00

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RNS Number : 3111N  Greatland Gold PLC  31 May 2022

31 May 2022

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
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REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE
PUBLIC DOMAIN.

 

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

 

Greatland commences second year exploration programme at Juri JV

 

Drill programme to focus on high-priority targets within the Paterson Range
East

and Black Hills licence including targets A9, A27 and Tama

 

 

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 under the Juri Joint Venture ("Juri JV") with partner
Newcrest Mining Limited ("Newcrest") in the highly prospective Paterson
province of Western Australia.

 

Highlights of 2022 Exploration Activities for the Juri JV:

§ Drilling of three high-priority targets to commence in June across the
Paterson Range East and Black Hills licences.

§ Aerial and ground electromagnetic data review is underway.

§ A programme of soil sampling along existing tracks has been completed and
submitted for geochemical analysis, to assist in identification of undercover
geology and potential subtle mineralisation trends.

§ Gravity data re-processing, aimed at refining existing and generating new
targets.

§ Heritage clearances completed with establishment of camp infrastructure
underway ahead of drill programme

§ The planned work has been agreed between the JV partners and is funded
solely by Newcrest.

The Paterson Range East licence lies approximately 25 kilometres north of the
Company's Havieron gold-copper project and covers 224 square kilometres of
Proterozoic basement rocks prospective for Havieron style gold-copper
mineralisation.  The Black Hills licence covers 25 square kilometres and lies
approximately 20 kilometres west of Havieron and 30 kilometres northeast of
Newcrest's Telfer Gold Mine.

 

Shaun Day, Managing Director of Greatland Gold plc, commented: "After a
promising first year programme, we are excited to commence on-the-ground
activities for the second year exploration and drilling campaign under the
Juri JV with Newcrest.

 

There is an enhanced, rich source of information available to interpret from
including prior year's drilling results, aerial and ground electro magnetic
data and the Juri JV teams have used this to identify promising high priority
targets to be drilled over the next few months.

 

The Juri JV campaign forms part of Greatland's wider exploration portfolio in
the highly prospective Paterson region and represents another opportunity to
add value to the Company.  In addition, we look forward to moving ahead with
upcoming exploration activities at Greatland's other 100% owned licences to
take advantage of our strong position in the region."

 

 

Further information on the Juri JV

 

The Juri JV comprises the Paterson Range East and Black Hills licences
covering an area of approximately 249 square kilometres in the Paterson region
of north-western Australia. The Farm-In commenced on 30 November 2020.
Newcrest has the right to earn up to a 75% interest in the licences by
spending up to A$20m as part of a two-stage Farm-In over five years. Stage 1,
a minimum commitment by Newcrest of A$3m within 24 months of commencement has
been met by Newcrest. Stage 2, now underway, contemplates an additional A$17m
over a further three years (total A$20m over five years). Newcrest currently
hold a 51% interest in the Juri JV. Greatland is the current manager of the
Juri JV.

 

Exploration work at the Juri JV licences is focussed on the discovery of
significantly sized gold-copper deposits similar to Havieron, Telfer and Winu.

 

As agreed with the JV partners, the 2022 work programme will include the
following activities with further work to be determined following a review of
results:

§ Drill testing of three high-priority targets across the JV licences,
including Electro magnetic ("EM") targets A27 and A9, potential conductive
mineralised sulphide bodies as seen at Telfer gold mine and previously defined
magnetic and gravity target Tama, considered geophysically consistent with
Havieron style mineralisation.

§ Soil sampling along existing tracks has been completed with assay results
awaited.

§ Geophysical gravity data normalisation with depth of cover modelling and
subsequent target generation.

§ EM data processing, modelling, interpretation and targeting.

§ Planned new ground geophysical work around the previously reported
anomalous BH003 zone (refer previous announcement dated 23 December 2021) and
other EM targets to refine targeting.

Additional information on the Juri JV can be found on the Company's website at
https://greatlandgold.com/juri-jv/ (https://greatlandgold.com/juri-jv/)

 

In addition to this release, a PDF version of this report with supplementary
information can be found at the Company's website:
https://greatlandgold.com/investors/regulatory-news/
(https://greatlandgold.com/investors/regulatory-news/)

 

 

Enquiries:

 

 Greatland Gold PLC                                                    +44 (0)20 3709 4900

 Shaun Day                                                             info@greatlandgold.com

                                                                       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.

 

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