TIDMGGP

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 (GBP115,000)

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 (GBP115,000) 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/

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/

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 
 Shaun Day                                          4900 
                                                    info@greatlandgold.com 
                                                    www.greatlandgold.com 
 
SPARK Advisory Partners Limited (Nominated 
 Adviser)                                          +44 (0)20 3368 
 Andrew Emmott/James Keeshan                        3550 
 
Berenberg (Joint Corporate Broker and Financial 
 Adviser)                                          +44 (0)20 3207 
 Matthew Armitt/ Jennifer Lee/ Detlir Elezi         7800 
 
Canaccord Genuity (Joint Corporate Broker 
 and Financial Adviser)                            +44 (0)20 7523 
 James Asensio/Patrick Dolaghan                     8000 
 
Hannam & Partners (Joint Corporate Broker 
 and Financial Adviser)                            +44 (0)20 7907 
 Andrew Chubb/Matt Hasson/Jay Ashfield              8500 
 
SI Capital Limited (Joint Broker)                  +44 (0)14 8341 
 Nick Emerson/Alan Gunn                             3500 
 
Luther Pendragon (Media and Investor Relations)    +44 (0)20 7618 
 Harry Chathli/Alexis Gore                          9100 
 

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           J ORC Code explanation                Commentary 
Sampling           -- Nature and quality                 -- No sampling carried out 
 techniques         of sampling (eg cut channels, 
                    random chips, or 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           -- MagSPEC Airborne magnetics         -- 50m line spaced, 090 - 
 techniques         & radiometrics Program                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           -- Drill type (eg core,               -- No drilling performed 
 techniques         reverse circulation, open-hole 
                    hammer, rotary 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              -- Method of recording                -- No drill sampling completed 
 sample             and assessing core and 
 recovery           chip sample recoveries 
                    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              -- N/A 
                    samples have been geologically 
                    and 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       -- If core, whether cut               -- N/A 
 techniques         or sawn and whether quarter, 
 and sample         half or all core taken. 
 preparation        -- 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            -- The nature, quality                -- MAGNETICS SURVEY - Compensation 
 of assay           and appropriateness of                box flown prior to survey; 
 data and           the assaying and laboratory           GPS accuracy tests; swoop 
 laboratory         procedures used and whether           tests for altimeters; diurnal 
 tests              the technique is considered           base station monitoring. Processing 
                    partial or total.                     - parallax correction, diurnal 
                    -- For geophysical tools,             filtering & subtraction, IGRF 
                    spectrometers, handheld               correction, tie line levelling, 
                    XRF instruments, etc,                 micro levelling 
                    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       -- The verification of                -- N/A 
 of sampling        significant intersections 
 and assaying       by either independent 
                    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           -- Accuracy and quality               -- Geophysical surveys provided 
 of data            of surveys used to locate             in the Geocentric Datum of 
 points             drill holes (collar and               Australian (GDA94 Zone 51) 
                    down-hole surveys), trenches,         or WGS84 SUTM Zone 51 
                    mine workings and other 
                    locations used in Mineral 
                    Resource estimation. 
                    -- Specification of the 
                    grid system used. 
                    -- Quality and adequacy 
                    of topographic control. 
Data spacing       -- Data spacing for reporting         -- N/A 
 and distribution   of Exploration Results. 
                    -- 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        -- Whether the orientation            -- N/A 
 of data            of sampling achieves unbiased 
 in relation        sampling of possible structures 
 to geological      and the extent to which 
 structure          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             -- The measures taken                 -- N/A 
 security           to ensure sample security. 
Audits             -- The results of any                 -- No audits or reviews have 
 or reviews         audits or reviews of sampling         been completed. 
                    techniques and data. 
 

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

 
 
Mineral            -- Type, reference name/number,        -- The Rudall tenement E45/5533 
 tenement           location and ownership                 is 100% owned by Greatland 
 and land           including agreements or                Pty Ltd. 
 tenure             material issues with third             -- The tenement is subject 
 status             parties such as joint                  to a Land Access Agreement 
                    ventures, partnerships,                (LAA) with Western Desert 
                    overriding royalties,                  Lands Aboriginal Corporation; 
                    native title interests, 
                    historical sites, wilderness 
                    or national park and environmental 
                    settings. 
                    -- 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        -- Acknowledgment and                  -- One drill hole targeting 
 done by            appraisal of exploration               potash brines collared 5km 
 other parties      by other parties.                      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            -- Exploration is for intrusion 
                    setting and style of mineralisation.   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              -- A summary of all information        -- N/A 
 hole Information   material to the understanding 
                    of the 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   -- In reporting Exploration            -- N/A 
 methods            Results, weighting averaging 
                    techniques, 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       -- These relationships                 -- N/A 
 between            are particularly important 
 mineralis-ation    in the reporting of Exploration 
 widths             Results. 
 and intercept      -- If the geometry of 
 lengths            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                -- Maps are provided in Figure 
                    sections (with scales)                 1 and 2. No significant discovery 
                    and tabulations of intercepts          is reported and no sections 
                    should be included for                 are provided. 
                    any significant discovery 
                    being reported These should 
                    include, but not be limited 
                    to a plan view of drill 
                    hole collar locations 
                    and appropriate sectional 
                    views. 
Balanced           -- Where comprehensive                 -- The reporting is considered 
 reporting          reporting of all Exploration           balanced 
                    Results is not practicable, 
                    representative reporting 
                    of both low and high grades 
                    and/or widths should be 
                    practiced to avoid misleading 
                    reporting of Exploration 
                    Results. 
Other              -- Other exploration data,             -- No other substantive exploration 
 substantive        if meaningful and material,            data other than that provided 
 exploration        should be reported including           in the figures. 
 data               (but not limited to): 
                    geological observations; 
                    geophysical 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            -- The nature and scale                -- Further geophysical surveying 
 work               of planned further work                and interpretation is planned 
                    (eg tests for lateral                  before potential drilling 
                    extensions or depth extensions         of any defined targets. 
                    or large-scale step-out 
                    drilling). 
                    -- 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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May 10, 2022 03:41 ET (07:41 GMT)

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