TIDMGGP
RNS Number : 9425T
Greatland Gold PLC
30 March 2021
30 March 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 AMENDED. 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 " )
New Licence Applications to Expand Footprint of Ernest Giles
Project
Application for new exploration licences at Ernest Giles after
internal review identifies compelling structural targets
Greatland Gold plc (AIM:GGP), the precious and base metals
exploration and development company, announces that it has lodged
two applications for new exploration licences adjacent to existing
licences at the Company's 100% owned Ernest Giles project in
Western Australia.
The two Exploration Licence applications of Mount Smith
(E38/3612) and Welstead Hill (E38/3613) cover a total area of
1,070km(2) and join existing tenure at the Ernest Giles project
located approximately 250km north-east of Laverton in the
goldfields of Western Australia. These new applications increase
the footprint of the project from 880km(2) to 1,950km(2) . The new
licence applications cover a prospective Archean greenstone rock
sequence and were acquired following an internal review of
historical and recent regional exploration data which concluded the
broader project area is prospective for gold, nickel and base
metals mineralisation.
Ahead of the expected grant of the licences, Greatland will
focus on enhancing its targeting criteria and refine locations for
future drill holes.
Shaun Day, Chief Executive Officer of Greatland Gold plc,
commented: "The new licences represent an excellent opportunity to
double the size of our footprint across the underexplored Ernest
Giles greenstone belt. Following a detailed internal review of
exploration data, we have identified compelling structural targets
in an area containing dense and magnetic units of Archean
greenstone sequences, with potential for gold, nickel and base
metals mineralisation.
"This aligns with our strategy to seek to discover Tier 1
deposits both through the ramp-up of exploration activities across
our existing 100% owned licences and by identifying new
opportunities that can bring value to Greatland. We look forward to
reporting progress on the two applications in due course."
Further information on new Exploration Licence applications at
Ernest Giles
The Ernest Giles project covers a sequence of greenstone rocks
typical of the Archean goldfields of Western Australia which host
large gold camps such as Kalgoorlie, Leonora, Laverton, Mt Magnet
and Jundee. The project is located approximately 250km north-east
of the town of Laverton. The gold prospective greenstone sequence
at Ernest Giles does not outcrop. Thickness of the cover sequence
ranges from around 120m to more than 300m across the broader
project area. Consequently, with no outcrop, the project has not
been subject to extensive historic exploration activity.
A recent internal review of historical and recent regional
exploration data including solid geology interpretation based on
detailed aeromagnetics and ground gravity, integrated with
multi-element surface geochemistry and multi-element downhole
geochemistry highlighted compelling structural targets with broad
scale intense bedrock alteration. The area contains both dense and
magnetic units interpreted to be buried Archean greenstone
sequences as shown by bedrock drilling within parts of the project.
This supports the potential presence of large mineral systems in
prospective rocks and recognition that the greater project area is
prospective.
As a result of the enhanced prospectivity, two new Exploration
Licences of Mount Smith (E38/3612) and Welstead Hill (E38/3613)
have been applied for by the Company. These licence applications
join existing licences at the Ernest Giles project. The two new
applications cover a total area of 1,070km(2) taking the total
footprint of the Ernest Giles project from 880km(2) to 1,950km(2) .
The Mount Smith application covers approximately 50 strike
kilometres of the northern extensions of the Ernest Giles
greenstone sequence while the Welstead application covers
approximately 35 strike kilometers of the central western portion
of the greenstone . Total strike kilometres of prospective rocks
for the Ernest Giles project is now around 180 kilometres, much of
which remains largely untested by bedrock drilling.
Ahead of the expected grant of the licences, Greatland will
focus on enhancing its geophysical data sets which support the
targeting criteria and refine the location of future drill
holes.
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
Shaun Day/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 Corporate 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's flagship asset is the world class Havieron
gold-copper deposit in the Paterson region of Western Australia.
This asset is held in joint venture with Newcrest Mining Ltd.
Havieron is located approximately 45km east of Newcrest's Telfer
gold mine, processing plant and existing infrastructure.
The box cut and decline to develop the Havieron ore body was
commenced in February 2021. In addition, a substantial ongoing
growth drilling programme is presently underway at Havieron which
is being undertaken in conjunction with preparation of a
Pre-Feasibility Study. The PFS is expected to be released in late
calendar 2021.
The Joint Venture Agreement includes tolling principles
reflecting the intention of the parties that, subject to positive
decision to mine, the resulting joint venture mineralised material
will be processed at Telfer.
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 actively investigating a range of new
opportunities in Australia for precious and strategic metals.
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END
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