TIDMGGP
RNS Number : 6121P
Greatland Gold PLC
18 February 2021
18 February 2021
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR)
Greatland Gold plc
( " Greatland " or "the Company " )
New Licence Application to Expand Footprint in the Paterson
Region
Application for new exploration licence 'Canning' covering
Havieron-style magnetic target in the Paterson Region
Greatland Gold plc (AIM:GGP), the precious and base metals
exploration and development company, announces that it has lodged
an application for a new exploration licence in the Paterson
Region.
The Canning exploration licence application (E45/5862) comprises
an area of 114km(2) and is located approximately 175km south east
of Havieron. The new licence application contains the bulk of a
large magnetic "bullseye" anomaly, similar to the magnetic
"bullseye" located over the Havieron deposit. No previous drill
testing of this anomaly has been reported in historical
records.
Ahead of the expected grant of the licence, Greatland will
compile and review historical exploration data, including regional
aeromagnetic data and detailed gravity data, and remodel the
magnetic and gravity data.
Shaun Day, Chief Executive Officer of Greatland Gold plc,
commented: "We are pleased to apply for the new Canning licence
which will expand our footprint in the Paterson region and build on
our exploration momentum in this region. The licence application
area contains the bulk of a large magnetic 'bullseye' anomaly
similar to the one located over the Havieron deposit. This fits in
with our strategy of seeking to discover tier 1 gold-copper
deposits. We look forward to reporting progress on the application
in due course."
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/
Further Information on 'Canning' Exploration Licence
Application
The new 'Canning' licence application, E45/5862 , covers an area
of 114km(2) and is located approximately 175km south east of
Havieron, within the south eastern extensions of the Paterson
Province. The licence covers a buried sequence of rocks correlated
with either units of the Proterozoic Tabletop Terrane, or units of
the Proterozoic Yeneena Basin (host to Telfer and the Havieron gold
deposits), adjacent to a major crustal scale fault. The new licence
application contains the bulk of a large magnetic 'bullseye'
anomaly, similar to the magnetic 'bullseye' located over the
Havieron deposit. Greatland's exploration work in the Paterson is
focussed on the discovery of intrusion related gold-copper deposits
such as Havieron, Telfer and Winu.
Greatland will compile and review historical exploration data,
including detailed gravity data, and remodel the historic magnetic
and gravity data, looking to precisely model the anomaly, and the
depth of cover to the source of the anomaly. No previous drill
testing of this anomaly has been reported in historical
records.
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/
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 consultant to 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
Enquiries:
Greatland Gold PLC
Gervaise Heddle/Callum Baxter
Tel: +44 (0)20 3709 4900
Email: info@greatlandgold.com
www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated Adviser)
Andrew Emmott/James Keeshan
Tel: +44 (0)20 3368 3550
Berenberg (Joint Corporat e Broker and Financial Adviser)
Matthew Armitt/Jennifer Wyllie/Detlir Elezi
Tel: +44 (0)20 3207 7800
Hannam & Partners (Joint Corporate Broker and Financial
Adviser)
Andrew Chubb/Matt Hasson/Jay Ashfield
Tel: +44 (0)20 7907 8500
SI Capital Limited (Joint Broker)
Nick Emerson/Alan Gunn
Tel: +44 (0)14 8341 3500
Luther Pendragon (Media and Investor Relations)
Harry Chathli/Alexis Gore/Joe Quinlan
Tel: +44 (0)20 7618 9100
Notes for Editors:
Greatland Gold plc is a London Stock Exchange AIM-listed
(AIM:GGP) natural resource exploration and development company with
a current focus on precious and base metals. The Company has six
main projects; four situated in Western Australia and two in
Tasmania.
In March 2019, Greatland signed a Farm-in Agreement with
Newcrest Operations Limited, a wholly-owned subsidiary of Newcrest
Mining Limited (ASX:NCM), to explore and develop Greatland's
Havieron gold-copper deposit in the Paterson region of Western
Australia. The Havieron Project is operated by Newcrest under a
Joint Venture Agreement with Greatland Gold plc. Newcrest can earn
up to a 70% joint venture interest through total expenditure of
US$65 million and the completion of a series of exploration and
development milestones in a four-stage farm-in over a six year
period that commenced in March 2019. Newcrest may acquire an
additional 5% interest at the end of the farm-in period at fair
market value.
The Joint Venture Agreement includes tolling principles
reflecting the intention of the parties that, subject to a
successful exploration programme and feasibility study and a
positive decision to mine, the resulting joint venture mineralised
material will be processed at Telfer , located 45km west of
Havieron.
Greatland is seeking to identify large mineral deposits in areas
that have not been subject to extensive exploration previously. It
is widely recognised that the next generation of large deposits
will come from such under-explored areas and Greatland is applying
advanced exploration techniques to investigate a number of
carefully selected targets within its focused licence
portfolio.
The Company is also actively investigating a range of new
opportunities in precious and strategic metals and will update the
market on new opportunities as and when appropriate.
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