TIDMGGP
RNS Number : 1172R
Greatland Gold PLC
03 November 2021
--
3 November 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL)
ACT 2018, AS AMED. 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 " )
Havieron lookalike targets identified in new Canning and
Paterson South tenements
Two key targets with coincident bullseye magnetic and gravity
features have been identified
Greatland will now prioritise these targets for follow-up
exploration activity
Greatland Gold plc (AIM:GGP), a leading mining development and
exploration company with a focus on precious and base metals, is
pleased to announce it has identified two priority targets that are
analogous to the magnetic and gravity anomaly associated with the
Havieron gold-copper deposit.
These targets are situated within 100% owned areas being the
Canning application and the adjacent recently acquired Paterson
South tenement as announced to the market on 16 September 2021.
Highlights:
-- The Paterson South Target One comprises a strong gravity and
near coincident magnetic anomaly
-- The Canning application Target Two comprises a strong
coincident gravity and magnetic anomaly
-- Both targets are analogous to the magnetic and gravity
anomaly associated with the Havieron gold-copper deposit, and
follow-up exploration is warranted
-- Next steps are to confirm the historical gravity data and
remodel the gravity and magnetic data, with the aim of targeting
drill holes for one or both targets
Shaun Day, Chief Executive Officer of Greatland Gold plc,
commented: "These targets, which have never been drilled, are
exciting opportunities situated within our expanded holdings in the
Paterson district. Both show strong magnetic and gravity anomalies,
with characteristics analogous to the magnetic and gravity
signature developed over Havieron.
As with Havieron, the new targets sit under cover and remain
untested, which allows Greatland to apply our proven record of
discovery and exploration success to identify prospective Telfer,
Winu and Havieron style mineralisation. We consider these bullseye
targets significant and exciting additions to our growth portfolio
as we seek to discover further tier-one gold-copper deposits in the
Paterson province."
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)
Matthew Armitt/ Varun Talwar/Alamgir Ahmed +44 (0)20 3207
/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/Joe Quinlan 9100
Further Information on the Gravity and Magnetic Targets:
Exploration licence applications E45/5755 (Paterson South A) and
E45/5862 (Canning) each contain a strong bullseye magnetic anomaly,
named Target One and Target Two respectively. These targets are
potentially analogous to the magnetic anomaly associated with the
Havieron gold- copper deposit.
Target One comprises a 0.1-0.15 milligal gravity anomaly
elongate in a NNE direction, with a partly coincident 1000nT
magnetic anomaly located over the southern end of the gravity
anomaly. Modelling of the data suggests the source of the gravity
anomaly is located between 400-700m deep, with a strike of 800m,
width 500m and thickness of around 300m, with a density around
0.05g/cc above background. By contrast the depth to top of the
magnetic anomaly is around 535m, only slightly deeper than the
gravity source.
Target Two comprises a 0.5 milligal gravity anomaly covering an
area of approximately 3km x 1.5km, coincident with a 1300nT
aeromagnetic anomaly. Modelling of the data suggests source of the
gravity anomaly is located 800-1200m deep, with a strike of 1500m,
width 750m and thickness of around 400m, with a density around
0.05g/cc above background. The spatially coincident magnetic
anomaly is around 1250m deep, i.e., situated below the
corresponding gravity anomaly.
Both targets warrant further assessment, with Greatland looking
to confirm the historical gravity data and remodel both the gravity
and magnetic data, looking to target drill holes into either at
least one target, or potentially both.
A regional map showing the Canning and Paterson South licence
areas with detailed plans showing the magnetic and gravity targets
can be found at: www.greatlandgold.com/paterson /
Competent Person:
Information in this announcement pertaining to Reporting of
Exploration Results have been reviewed and approved by Mr John
McIntyre, a Member of the Australian Institute of Geoscientists
(MAIG), who has more than 30 years relevant industry experience. Mr
McIntyre is an employee of the Company and has no financial
interest in Greatland Gold plc or its related entities. Mr McIntyre
has sufficient experience relevant to the style of mineralisation
and 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 McIntyre consents to the inclusion in this
announcement of the matters based on this information in the form
and context in which it appears. Mr McIntyre 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 www.greatlandgold.com/paterson/
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
Notes for Editors:
Greatland Gold plc (AIM:GGP) is a leading 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.
APPIX I
JORC Table 1
Section 1 Sampling Techniques and Data
Criteria JORC Code explanation Commentary
Sampling
techniques * Nature and quality of sampling (eg cut channels, * The exploration results described in this report
random chips, or specific specialised industry comprise historical ground gravity data collected by
standard measurement tools appropriate to the Haines Surveys in 2002.
minerals under investigation)
* The two survey areas (Target One and Target Two
* Include reference to measures taken to ensure sample respectively) comprised lines on 600m or 300m
representivity and the appropriate calibration of any spacings, with station spacings at 200m or 100m
measurement tools or systems used. intervals, and four infill lines were completed for
317 stations. Gravity measurements were made with a
Scintrex CG3 Autograv instrument, and locations and
* Aspects of the determination of mineralisation that elevations were recorded using Trimble 4000 series
are Material to the Public Report. Geodetic receivers using Real Time Kinematic (RTK)
techniques giving horizontal and vertical precisions
of at least 5 cm..
* 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 * The data has been reprocessed by Greatland's
from which 3 kg was pulverised to produce a 30 g geophysical consultants, using a 1.7 g/cc density
charge for fire assay'). In other cases more corrections (to account for sand dunes) and
explanation may be required, such as where there is converting the datum to GDA94
coarse gold that has inherent sampling problems.
Unusual commodities or mineralisation types (eg
submarine nodules) may warrant disclosure of detailed
information.
Drilling
techniques * Drill type (eg core, reverse circulation, open-hole * Not applicable- no drilling is reported
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 sample
recovery * Method of recording and assessing core and chip * Not applicable- no drilling is reported
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 samples have been geologically * Not applicable- no drilling is reported
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
techniques * If core, whether cut or sawn and whether quarter, * Not applicable- no drilling is reported
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
of assay * The nature, quality and appropriateness of the * Not applicable- no drilling is reported
data and assaying and laboratory procedures used and whether
laboratory the technique is considered partial or total.
tests
* 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 * The verification of significant intersections by * Not applicable- no drilling is reported
and assaying 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
of data * Accuracy and quality of surveys used to locate drill * Not applicable- no drilling is reported
points holes (collar and down-hole surveys), trenches, mine
workings and other locations used in Mineral Resource
estimation.
* Specification of the grid system used.
* Quality and adequacy of topographic control.
Data spacing
and * Data spacing for reporting of Exploration Results. * Not applicable- no drilling is reported
distribution
* 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 * Whether the orientation of sampling achieves unbiased * Sampling is on north- south oriented lines. The
in relation sampling of possible structures and the extent to relationship to geological structure is unknown at
to which this is known, considering the deposit type. this stage.
geological
structure
* 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. * Not applicable- no drilling is reported
Audits
or reviews * The results of any audits or reviews of sampling * No audits or reviews have been completed.
techniques and data.
============= ============================================================ ===========================================================
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this
section.)
Criteria JORC Code explanation Commentary
Mineral
tenement * Type, reference name/number, location and ownership * EL45/5862 is an application dated 17/2/2021 and owned
and land including agreements or material issues with third 100% by Greatland.Pty Ltd.
tenure parties such as joint ventures, partnerships,
status overriding royalties, native title interests,
historical sites, wilderness or national park and * EL45/5755 is an application dated 17/2/2021 and is
environmental settings. beneficially owned 100% by Greatland.Pty Ltd, subject
to a purchase agreement with Province Resources
Limited (announced 16/9/2021).
* 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. * Both applications are located in lands in which the
Marty Native Title Holders have a Native Title
Determination. Greatland anticipates the tenements
will be granted subject to a Land Access Agreement
with the Western Desert Lands Aboriginal Corporation
on behalf of the Martu Native Title Holders.
Exploration
done by * Acknowledgment and appraisal of exploration by other * The historical gravity data was collected on behalf
other parties parties. of Remington Resources Pty Ltd, the holder of
EL45/2323, and reported in WAMEX open file report
A067137 for the period to 14/5/2003.
* No other exploration work has been identified.
Geology
* Deposit type, geological setting and style of * Exploration is for intrusion related Au-Cu deposits
mineralisation. similar to Telfer, Havieron and Winu, all located in
the Neo-Proterozoic Paterson Province, Western
Australia
* The basement is interpreted to be units of Paterson
Province age, overlain by sediments of the Canning
Basin. Depth to Basement is interpreted to be 400-
800m, based on historical modelling of the gravity
data.
Drill hole
Information * A summary of all information material to the * Not applicable- no drilling is reported
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 Results, weighting averaging * Not applicable- no drilling is reported
methods 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
between * These relationships are particularly important in the * Not applicable- no drilling or mineralisation is
mineralisation reporting of Exploration Results. reported
widths
and intercept
lengths * 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 * Maps are provided in Figures 1 to 3.
tabulations of intercepts should be included for 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
reporting * Where comprehensive reporting of all Exploration * The reporting is considered 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
substantive * Other exploration data, if meaningful and material, * There is no other substantive exploration data.
exploration should be reported including (but not limited to):
data 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
work * The nature and scale of planned further work (eg * Further work will include modelling of the gravity
tests for lateral extensions or depth extensions or and magnetic data and then drill testing of any
large-scale step-out drilling). permissive sources identified in the modelling.
* 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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