TIDMGGP
RNS Number : 7737E
Greatland Gold PLC
08 July 2019
8 July 2019
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR).
Greatland Gold plc
("Greatland" or "the Company")
Update on Exploration Campaign at Panorama Project
Field reconnaissance at Panorama locates numerous gold nuggets
in multiple locations and confirms the presence of mineralisation
over several kilometres of strike
Greatland Gold plc (AIM:GGP), the precious and base metals
exploration and development company, is pleased to announce that
field reconnaissance activities have located numerous gold nuggets,
confirming the presence of mineralisation over several kilometres
of strike at the Company's 100% owned Panorama project, located in
the Pilbara region of Western Australia. The zone of gold
mineralisation has been extended from 3.2km of strike to 4.3km.
Highlights:
-- Numerous gold nuggets found in thin soil cover over several
hundred metres of strike, confirming the presence of gold
mineralisation along the mineralised zone.
-- Gold nuggets found in more than 10 locations, including an
area further south along strike, thereby extending the strike
extent of the mineralised trend from 3.2km to 4.3km.
-- The mineralised zone, hosted in Archean basement, currently
remains open to the south west and will be subject to further
reconnaissance activities and systematic, grid-based surface
geochemical sampling, which is expected to be completed by late
July.
-- Additionally, a detailed, low level aeromagnetic survey
covering the entire Panorama project area is expected to commence
next week.
Gervaise Heddle, Chief Executive Officer, commented: "The
discovery of numerous gold nuggets in multiple locations within the
first week of the new field campaign at Panorama represents a very
exciting start to this campaign and further confirms our belief in
the significant potential of this project.
"The dual geochemical and geophysical campaign that we are
conducting at Panorama represents a step up in the scale of
exploration previously conducted at this project and clearly these
early results support our decision to accelerate the pace of
exploration activity at this exciting gold target in the Pilbara.
We look forward to providing further updates as the exploration
campaign progresses, including results from soil and rock chip
sampling and the aeromagnetic survey."
A photo of the gold nuggets collected and a map indicating
collection points can be found on the Panorama project page of
Greatland's website at: www.greatlandgold.com/panorama/
Panorama Project
The Panorama project consists of three adjoining granted
exploration licences located in the Pilbara region of northern
Western Australia. The three licences cover a total area of
approximately 155 square kilometres and are prospective for gold
and base metal mineralisation.
Geology of the area is predominantly greenstone and granite of
the Archean Pilbara Craton in northern Western Australia, and
younger overlying sedimentary and volcanic sequences. As such the
project is prospective for Archean lode style gold mineralisation
and also 'conglomerate' style gold mineralisation.
The Company completed a detailed review of historic work at
Panorama, which revealed many rock chip samples with an elevated
gold response from within the project area. Rock chip samples were
collected during the mid to late 1990s, mainly over the northern
parts of the project area. The most significant samples identified
to date lie along a north-south trending zone approximately 3.2km
long with rock chip results including 66.0g/t, 14.5g/t, 4.1g/t,
2.1g/t and 1.1g/t gold. The geological setting is a prominent ridge
marking the structural contact of basaltic and ultramafic rocks of
Archean age.
Greatland carried out sporadic rock chip sampling along this
zone during 2017 with results including 18.45g/t, 1.82g/t, 0.71g/t,
and 0.61g/t gold over approximately 3.2km of strike, essentially
confirming the presence of gold mineralisation and the high grade
potential of this zone. Rock chip results are presented in Table
1.
Table 1 - Rock Chip Results (>10ppb gold)
Sample
ID East North Company Year Gold (ppb)
------- -------- --------------- -----
93105 778899 7580466 Bacome Pty Ltd 1993 33
93170 779099 7582746 Bacome Pty Ltd 1993 2120
93171 779099 7582746 Bacome Pty Ltd 1993 1050
93172 779069 7582956 Bacome Pty Ltd 1993 289
93173 779049 7583076 Bacome Pty Ltd 1993 699
93175 779409 7581886 Bacome Pty Ltd 1993 28
932228 779099 7582746 Bacome Pty Ltd 1993 4120
Great Southern
1561 778657 7579766 Mines 1997 66000
Great Southern
1562 778645 7579804 Mines 1997 620
Great Southern
5656 778616 7579870 Mines 1997 310
Great Southern
5657 778622 7579876 Mines 1997 14500
Great Southern
5658 778641 7579876 Mines 1997 460
Great Southern
5659 778641 7579851 Mines 1997 70
Great Southern
5660 778635 7579876 Mines 1997 50
Great Southern
5662 778653 7579913 Mines 1997 50
HK1004 779116 7582752 Greatland 2017 326
HK1005 778683 7579880 Greatland 2017 710
HK1008 779096 7581748 Greatland 2017 200
HK1012 778908 7580786 Greatland 2017 21
HK1013 778676 7579887 Greatland 2017 609
HK1014 778906 7580516 Greatland 2017 22
HK1015 779105 7582750 Greatland 2017 18448
HK1016 779031 7582984 Greatland 2017 74
HK1018 779092 7582749 Greatland 2017 1823
HK1021 779097 7581764 Greatland 2017 21
*all coordinates MGA94_Z50
Late last month, Greatland commenced field activities at the
Panorama project with reconnaissance activities and surface
geochemical work primarily focussed on Archean lode style gold
mineralisation. To date, numerous gold nuggets have been found in
thin soil cover over several hundred metres of strike confirming
the presence of gold mineralisation along the mineralised zone.
Gold nuggets have been found further south along strike than
previously identified, extending the strike extent of the
mineralised trend from 3.2km to 4.3km. The zone remains open to the
south west. All nugget locations are presented in Table 2.
Table 2 - Gold Nugget Locations
Site ID East North Site Type
------- --------
PAN_NUG001 778073 7579250 hill side
PAN_NUG002 778021 7579263 hill side
PAN_NUG003 778021 7579375 gully
PAN_NUG004 778112 7579386 gully
PAN_NUG005 778228 7579425 gully
PAN_NUG006 778259 7579490 gully
PAN_NUG007 778278 7579453 hill side
PAN_NUG008 778232 7579457 hill side
PAN_NUG009 778306 7579550 hill side
PAN_NUG010 778341 7579893 hill side
PAN_NUG011 778588 7579840 hill top
PAN_NUG012 778861 7581741 hill top
PAN_NUG013 778828 7581618 hill side
*all coordinates MGA94_Z50
Ongoing work will include further reconnaissance along the
mineralised trend and systematic grid based soil sampling on 100m x
50m grid. Rock chip samples will also be collected at suitable
locations. This work is expected to be complete in late July.
High quality geophysical datasets are a critical component of
early stage exploration programmes. Of particular importance are
high resolution aeromagnetic surveys as they are cost-effective and
enable rapid target definition over large tenement packages. As
previously announced, Greatland has commissioned a detailed, low
level airborne magnetic survey to cover the entire area. The survey
comprises approximately 8,000 line kilometres at a line spacing of
50m with an estimated mean terrain clearance of 40m. The airborne
survey is expected to commence next week.
Further information on the Panorama project can be found on the
Company web site at www.greatlandgold.com/projects
Competent Person:
Information in this announcement that relates to exploration
results is based on information compiled by Mr Mick Sawyer,
Exploration Manager for Greatland Pty Ltd, who is a member of the
Australian Institute of Geoscientists and is a Registered
Professional Geoscientist (R.P.Geo #10194). Mr Sawyer has
sufficient experience relevant to the style of mineralisation and
type of deposit under consideration and to the activity which has
been undertaken 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.
Mr Sawyer consents to the inclusion in the announcement of the
matters based on their information in the form and context in which
it appears.
Information in this announcement that relates to Panorama
project exploration results has been extracted from the following
announcements:
"Greatland Commences New Exploration Campaign at Panorama
Project", dated 27 June 2019
"Panorama Project - New Licence Application", dated 31 May
2018
"Panorama Project - First Exploration Campaign", dated 21
December 2017
"Extensions of Field Operations at Panorama Project", dated 1
November 2017
"Panorama Project Update", dated 24 October 2017
"Panorama Project - Exploration Programme Commences", dated 3
October 2017
"Greatland Gold plans to enter new market with Panorama Cobalt
Project", dated 12 June 2017
Further information on the Panorama licence can be found under
'Panorama' on the Company's website: www greatlandgold.com
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
SI Capital Limited (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 London listed (LON:GGP) natural resource
exploration and development company with a current focus on gold,
copper and nickel exploration projects.
The Company has six main projects; four situated in Western
Australia and two in Tasmania. All projects are 100% owned by
Greatland.
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 project in the Paterson region of Western
Australia. Newcrest has the right to acquire up to a 70% interest
in a 12 block area within E45/4701 that covers the Havieron target
by spending up to US$65m.
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDUGUAUMUPBURR
(END) Dow Jones Newswires
July 08, 2019 04:08 ET (08:08 GMT)
Grafico Azioni Greatland Gold (LSE:GGP)
Storico
Da Feb 2024 a Mar 2024
Grafico Azioni Greatland Gold (LSE:GGP)
Storico
Da Mar 2023 a Mar 2024