TIDMGGP
RNS Number : 5002P
Greatland Gold PLC
19 October 2021
--
19 October 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 " )
Greatland and Newcrest advance to Stage 2 of the Juri Joint
Venture
Total investment could increase from A$3m to A$20m significantly
expanding the exploration programme following a successful initial
2021 drill campaign
Greatland Gold plc (AIM:GGP), a leading mining development and
exploration company with a focus on precious and base metals, is
pleased to announce the Juri Joint Venture ("Juri JV") with
Newcrest Mining Limited ("Newcrest") will advance to Stage 2 which
marks an extension and potential acceleration of the Juri JV
exploration programme in the highly prospective Paterson province
of Western Australia .
Highlights of the Juri JV
-- First phase of Juri JV drilling programme completed on the
Paterson Range East and Black Hills tenements
-- Gold assays from first four assayed holes of Juri JV drill
programme found mineralisation a t the Saddle Reefs target within
the Black Hills licence in an intersection of 3.5m @ 1.88g/t Au
from 226.5m and first gold identified at the Goliath Prospect
including a significant assay of 1.0m @ 1.49g/t Au from 651m
-- Samples from the remaining holes have been delivered to the
laboratory and assays are expected to be available around the
beginning of November 2021
-- Ground Electro-Magnetic (Ground EM) survey is currently
underway to further refine and model future Juri JV targets
-- Investment under the Juri JV could increase from A$3m to
A$20m
-- Juri JV 2022 exploration programme expected to include:
-- Drill testing conductors identified in the 2021 Ground EM
survey;
-- Drilling other targets not tested in the 2021 programme,
including Tara and Tama in Paterson Range East; and
-- Follow-up drilling on any results from this year's drilling
programme
-- Greatland will continue in the role of Manager for the Juri
JV
Shaun Day, Chief Executive Officer of Greatland Gold plc,
commented: "Advancing to Stage 2 of the Juri JV marks an important
step forward which further demonstrates the confidence and
financial commitment of our partner Newcrest. This progression
follows a successful initial drill programme, where mineralisation
was discovered, and additional rich geological information obtained
in respect of existing and new targets.
This additional investment enables Greatland to expand and
accelerate the 2022 Juri exploration programme without the need to
self-fund this activity. Furthermore, this commitment is evidence
of the strength of our relationship with Newcrest and our mutual
belief in our partnership to undercover further deposits in the
highly prospective Paterson region.
The Juri JV campaign forms part of Greatland's multifaceted
exploration strategy in the highly prospective Paterson region.
This work complements the rapid progress at Havieron, with mine
development and a growth drilling programme underway; together with
exploration activities at our 100% licences across the Paterson
district ."
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 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. Under the Farm-In
announced on 30 November 2020, Newcrest has met the Stage 1
expenditure of A$3m and holds a 51% interest in the Juri JV with a
right to earn up to a 75% interest in the licences covering the
Juri JV by spending an additional A$17m of the Stage 2 Farm-In over
three years.
Greatland is the manager of the Juri JV. Newcrest has the right,
but not the obligation, to be appointed Manager, starting 1 January
2022. Exploration work at the Juri JV licences is focussed on the
discovery of intrusion related gold-copper deposits similar to
Havieron, Telfer and Winu.
The Stage 1 exploration programme comprised drilling and ground
electromagnetic ("Ground EM") surveying. The drilling comprised
nine holes for 4,958 m testing five targets at the Goliath,
Outamind and Los Diablos targets on the Paterson Range East licence
and four holes at the Parlay and Saddle Reefs targets on the Black
Hills licence. Gold assays have been received for the first four
assayed holes of the programme, with results including 3.5m @
1.88g/t Au from 226.5m in BHD001 from the Saddle Reefs target
within the Black Hills licence, and 1.0m @ 1.49g/t Au from 651m in
GOL001A at the Goliath Prospect. Assays for the remaining holes
from Los Diablos, Parlay and Saddle Reef and sections of the
Outamind hole expected to be available around the beginning of
November 2021.
The Ground EM survey is designed to better define and prioritise
multiple Airborne electromagnetic ("AEM") targets defined
throughout the Paterson Range East and Black Hills licences in the
2020 exploration programme. This Ground EM programme is underway,
with completion of on- ground data collection expected in October
2021, and processed data available to guide the proposed 2022
drilling programme.
Additional information on the Juri JV can be found on the
Company's website at https://greatlandgold.com/juri-jv/
Competent Person:
Information in this announcement pertaining to Reporting of
Exploration Results has 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 a full-time employee of the Company. 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 historical market announcements, and that the form
and context in which the information has been presented has not
been materially modified.
Information in this announcement that relates to historical
exploration results has been extracted from the following
announcements:
" First Results from Drilling Campaign at Juri Joint Venture"
dated 1/9/2021 (Greatland RNS announcement)
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.
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END
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