TIDMGGP
RNS Number : 6344J
Greatland Gold PLC
20 August 2019
20 August 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")
Panorama Project - Exploration Update
Field reconnaissance locates additional gold nuggets, further
extending the strike length of the mineralised trend to over 6
kilometres
Greatland Gold plc (AIM:GGP), the precious and base metals
exploration and development company, is pleased to announce that
phase one geochemical sampling is complete and further field
reconnaissance activities have located additional gold nuggets,
further extending the mineralised trend at the Company's 100% owned
Panorama project, located in the Pilbara region of Western
Australia.
Highlights:
-- Further field reconnaissance has successfully located
additional gold nuggets over an area of 900m by 200m approximately
1km further south-west from those previously announced on 8 July
2019.
-- The additional gold nuggets collected further extend the
strike length of the mineralised trend from 4.3km to 6.1km.
-- Phase one geochemical sampling completed with soil sample
assays awaited and a detailed, low level airborne magnetic survey
covering the entire Panorama project area is also now complete with
the data currently being processed.
-- The geochemical and geophysical data sets will assist with
the interpretation of structural and basement geology and provide
better definition of existing targets.
Gervaise Heddle, Chief Executive Officer, commented: "The
discovery of a new, additional zone of gold nuggets is evidence of
the growing scale of Panorama and further strengthens our belief in
the project. The successful fundraise earlier this month has given
us greater flexibility to accelerate exploration programmes of
exciting projects such as Panorama. While still at a very early
stage, the increase in scale of the mineralised trend at Panorama
fits directly into our strategy to identify and progress potential
tier one projects."
A photo of the additional 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.
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, confirming the
presence of gold mineralisation.
During June 2019 Greatland commenced field operations at the
Panorama project with reconnaissance activities and surface
geochemical work primarily focussed on Archean lode style gold
mineralisation. Numerous gold nuggets were found in thin soil cover
over several hundred metres of strike along the mineralised zone.
Gold nuggets were found further south along strike from
mineralisation previously identified, extending the strike extent
of the mineralised trend from 3.2km to 4.3km. The zone remained
open to the south west. Nugget locations were previously reported
on 8 July 2019.
Ongoing work during July and August 2019 has included phase one
geochemical sampling at a density of 100m x 50m and 200m x 50m
resulting in the collection of 468 samples. Further reconnaissance
has also been carried out which successfully located additional
gold nuggets over an area of 900m x 200m approximately 1km further
south-west from those previously reported on 8 July 2019. With
these additional gold nuggets the strike length of the mineralised
trend has increased from 4.3km to 6.1km.
As previously announced, a detailed, low level airborne magnetic
survey covering the entire Panorama project area was commissioned
by the Company. The survey is now complete and comprised 8,092 line
kilometres at a line spacing of 50m with a mean terrain clearance
of 30m. The data is currently being processed and imaged and when
integrated with the geochemical data sets, will assist Greatland
with geological and structural interpretation of basement geology
and provide better definition of existing targets.
Further information on the Panorama project can be found on the
Company web site at www.greatlandgold.com/projects
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 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:
"Update on Exploration Campaign at Panorama Project", dated 8
July 2019
"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 (Joint Broker)
Nick Emerson/Alan Gunn
Tel: +44 (0)14 8341 3500
Numis Securities Limited (Joint Broker)
Matthew Hasson/John Prior/Alamgir Ahmed
Tel: +44 (0)20 7260 1000
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
UPDGCGDISGDBGCG
(END) Dow Jones Newswires
August 20, 2019 05:08 ET (09:08 GMT)
Grafico Azioni Greatland Gold (LSE:GGP)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Greatland Gold (LSE:GGP)
Storico
Da Apr 2023 a Apr 2024
