TIDMGGP
RNS Number : 6154R
Greatland Gold PLC
30 October 2019
30 October 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")
Greatland Identifies New Drill Targets at Scallywag
Geophysical surveys identify four new high-priority targets
within the Scallywag prospect in the Paterson region
Greatland Gold plc (AIM:GGP), the precious and base metals
exploration and development company, is pleased to announce that
results from geophysical surveys have outlined several new
high-priority targets at its 100% owned Scallywag prospect in the
Paterson region of Western Australia.
The Scallywag gold-copper prospect area sits within Greatland's
Havieron licence (E45/4701), approximately 6km west of the 12 block
area under a Farm-in Agreement with Newcrest. Scallywag is an
elongate magnetic feature with a strike length of more than 6km. As
announced on 15 August 2019, Greatland recently completed an
Induced Polarisation ("IP") survey across the northern part of the
Scallywag prospect, and an infill ground gravity survey across the
entire prospect area. Results from the IP and ground gravity
surveys have been received and are reported today.
Highlights
-- Multiple chargeability responses identified from six IP
traverses that were completed over 2km of strike.
-- Several high-priority drill targets identified from a review
of IP, gravity and magnetic data:
o Kraken: A high intensity 'bulls-eye' magnetic anomaly with the
same amplitude, character and depth extent as observed at Havieron.
IP results indicate a strong chargeability anomaly coincident with
the Kraken magnetic anomaly.
o Barbossa: A large 2km by 1km residual gravity anomaly located
in a structural corridor 3.5km west of the hinge of the Scallywag
dome. Barbossa has semi-coincident gravity and IP chargeability
anomalies.
o Blackbeard: An elongate 2.6km by 400m ultra-high intensity
magnetic anomaly with a coincident moderate amplitude gravity
feature. The IP chargeability response at Blackbeard is observed
over 800m of strike.
o London: Located in a gravity low interpreted to be an
intrusive rock within the hinge zone of the Scallywag antiform. The
London target IP response is seen over 400m of strike as discrete
chargeability anomalies.
-- Greatland expects to drill test these four targets during the
next field season and will be conducting additional IP surveys over
the southern portion of the Scallywag prospect area at that
time.
Gervaise Heddle, Chief Executive Officer, commented: "We are
very pleased that these results have successfully generated
multiple new high-priority drill targets at Scallywag, many of
which share similar geophysical characteristics to Havieron. The
identification of this first round of high-priority drill targets
further reinforces our view regarding the prospectivity of the
Scallywag prospect area itself and the Paterson region more
generally, a region which we believe could hold multiple tier-one
gold-copper deposits. We plan to accelerate drilling of these new
targets in the next field season, while also carrying out
additional work over Scallywag's southern area to identify further
targets."
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
Overview of Paterson Project
The Company's Paterson project comprises the Havieron, Paterson
Range East, and Black Hills licences, located in the Paterson
region of northern Western Australia. The three licences
collectively cover more than 385 square kilometres and are
prospective for Telfer style gold-copper deposits, and Havieron
style gold-copper mineralisation.
In March 2019, Greatland signed a Farm-in Agreement with
Newcrest Operations Limited ("Newcrest"), 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's drilling campaigns at Havieron have yielded
excellent results to date, including:
-- HAD005: 103m @ 3.5g/t Au and 0.93% Cu from 459m; and
128m @ 7.4g/t Au and 0.54% Cu from 660m
-- HAD006: 54m @ 2.7g/t Au and 0.79% Cu from 471m; and
179.1m @ 1.4g/t Au and 0.47% Cu from 547.9m
-- HAD008: 67m @ 2.0g/t Au and 0.91% Cu from 426m
Recent drilling by Newcrest under the current Farm-in
arrangement has returned:
-- HAD012: 43m @ 7.9g/t Au, 0.83% Cu from 900m
-- HAD013: 100.9m @ 2.0g/t Au, 0.48% Cu from 479m
-- HAD014: 244.6m @ 2.0g/t Au, 0.40% Cu from 450m
-- HAD017: 45.0m @ 7.1g/t Au and 0.08% Cu from 1077m
-- HAD018: 96.4m @ 4.5g/t Au and 0.14% Cu from 916.4m
The Paterson region is currently one of the most active
exploration areas in Australia. Recent exploration success achieved
by Greatland (Havieron) and Rio Tinto (Winu) demonstrates the
region has been underexplored, particularly the extensive areas
under cover.
It is widely recognised that additional gold-copper discoveries
in the Paterson will come from areas under cover, and that
geophysics is a critical component of the discovery process. For
example, Greatland's exploration success at Havieron was largely
driven by the application of detailed aeromagnetic and ground
gravity geophysical data sets and subsequent modelling.
Scallywag Prospect
The Scallywag prospect lies approximately 6km west of the
Havieron prospect within the Havieron licence. The Scallywag
prospect is located within E45/4701 and 100% owned by Greatland.
Limited historic drilling in the immediate area around Scallywag
did not intersect basement.
Scallywag is a large, elongate magnetic anomaly with a strike
length of more than 6km. It is interpreted to be a folded
metasedimentary sequence under approximately 50-100m of cover.
Geophysical programmes completed to date by Greatland include
reprocessing of existing 50m line spaced aeromagnetic data and
collection of ground gravity (400m x 200m). MMI sampling over the
Scallywag prospect was completed in late Q3 2018 at a sample
spacing of 400m x 200m. MMI results from Scallywag displayed
discrete elevated gold, copper, silver and arsenic MMI responses
along the western parts of the target area over a strike length of
approximately 6km. Supporting pathfinder elements of cerium,
lanthanum, iron and lead were also coincident along this trend with
several clusters of samples displaying a strong multi element
response. Highest results returned from MMI sampling were 8ppb
silver, 50ppb arsenic, 0.4ppb gold, 480ppb cerium, 2750ppb copper,
280ppb lanthanum and 240ppb lead. Response of certain groupings (or
suites) of elements over parts of the Scallywag target are similar
to those that were seen in MMI sampling over the Havieron
prospect.
Ground gravity has recently been completed over the Scallywag
area and across the remainder of the Havieron licence E45/4701
(with the exception of the 12 block area within E45/4701 subject to
the Farm-in Agreement with Newcrest). Approximately 1,180 gravity
stations were collected which have finalised 200m x 200m gravity
coverage across the Scallywag prospect itself. This data has better
defined basement structures and lithological contacts when combined
with detailed aeromagnetic data. From these data sets Scallywag is
interpreted to be an antiformal (dome-like) feature of
metasedimentary rocks analogous to those at Havieron and Telfer
(Lamil Group, Paterson Province). Both magnetic and gravity data
have undergone 3D modelling to assist IP survey planning and drill
targeting.
An IP programme has been completed over the northern third of
the Scallywag prospect covering approximately 2km of the 6km of
strike. The IP technique can detect disseminated sulphide
mineralisation that may be associated with gold-copper
mineralisation like that seen at the Havieron prospect. Six IP
traverses were completed over 2km of strike. Traverses were between
400m and 800m apart with a minimum line length of 1.6km and maximum
of 4.8km. Multiple chargeability responses were identified from the
six traverses.
The IP data has been integrated with other data sets such as
gravity and magnetics resulting in the identification of multiple
targets; magnetic anomalies with IP response, gravity anomalies
with IP response, structural targets with IP response and
individual IP chargeability targets. From these, four high-priority
targets have been initially selected: Kraken, Barbossa, Blackbeard
and London. Details of these targets are outlined below.
New Drill Targets within Scallywag Prospect
Kraken: A high intensity 'bulls-eye' magnetic anomaly with the
same amplitude, character and depth extent as observed at Havieron.
Kraken has a structural location in the interpreted hinge of the
Scallywag antiform. IP results indicate a strong chargeability
anomaly coincident with the Kraken magnetic anomaly.
Barbossa: A large 2km by 1km residual gravity anomaly located in
a structural corridor 3.5km west of the hinge of the Scallywag
dome. Barbossa has semi-coincident gravity and IP chargeability
anomalies.
Blackbeard: An elongate 2.6km by 400m ultra-high intensity
magnetic anomaly with a coincident moderate amplitude gravity
feature. The IP chargeability response at Blackbeard is observed
over 800m of strike. The chargeability response increases in
intensity toward the north.
London: Located in a gravity low interpreted to be an intrusive
rock within the hinge zone of the Scallywag antiform. The London
target IP response is seen over 400m of strike as discrete
chargeability anomalies.
Greatland expects to drill test these four targets during the
next field season. Concurrent with these drilling activities
Greatland will be undertaking additional IP traverses over the
southern portion of the Scallywag prospect and drilling will
continue to test any further targets generated.
Further information on the Company's Paterson project can be
found on the Paterson project page of Greatland's website at:
www.greatlandgold.com/paterson
Competent Person:
Information in this announcement that relates to exploration
results is based on information compiled by Mr Mick Sawyer who is a
member of the Australian Institute of Geoscientists and is a
Registered Professional Geoscientist (R.P.Geo #10194). Mr Sawyer is
Exploration Manager and a full-time employee of Greatland Pty Ltd,
and holds employee options in Greatland Gold plc. 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 exploration
results has been extracted from the following announcements:
"Further High-Grade Drilling Results from Havieron", dated
October 24, 2019
"Update on Newcrest Drilling Results at Havieron", dated 10
September 2019
"Greatland Advances Exploration at Scallywag Prospect", dated 15
August 2019
"Rio Tinto Exploration Update - Winu project", dated 1 August
2019
"First Results from Newcrest's Drilling Campaign at Havieron",
dated 25 July 2019
"Rio Tinto Exploration Update - Winu project", dated 6 June
2019
"Rio Tinto Exploration Update - copper-gold mineralisation
discovered in the Paterson Province in the far east Pilbara region
of Western Australia" dated 27 Feb 2019
"Paterson Project - MMI Results from Scallywag Target", dated 23
October 2018
"Positive Gravity and MMI Results from Paterson Project", dated
6 December 2017
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 a London Stock Exchange AIM-listed
(AIM: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$65 million.
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.
JORC Table 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections)
Criteria Explanation Commentary
Sampling
techniques * Nature and quality of sampling (eg cut channels, INDUCED POLARISATION GEOPHYSICAL SURVEY
random chips, or specific specialised industry * A Time Domain Induced Polarisation and DC Resistivity
standard measurement tools appropriate to the geophysical survey was undertaken during September to
minerals under investigation, such as down hole gamma October 2019, by Zonge Engineering and Research
sondes, or handheld XRF instruments, etc). These Organisation Pty Ltd, an independent geophysical
examples should not be taken as limiting the broad acquisition contractor.
meaning of sampling.
* The survey employed the following sampling
* Include reference to measures taken to ensure sample techniques: Time Domain Induced Polarisation and DC
representivity and the appropriate calibration of any Resistivity geophysical survey.
measurement tools or systems used.
* The survey used the following sampling equipment:
* Aspects of the determination of mineralisation that
are Material to the Public Report. In cases where
'industry standard' work has been done this would be Method: Induced Polarisation and DC
relatively simple (eg 'reverse circulation drilling Resistivity
was used to obtain 1 m samples from which 3 kg was Array: Dipole-Dipole
pulverised to produce a 30 g charge for fire assay'). Geometry: Inline 2D
In other cases more explanation may be required, such Receiver a spacing (m): 100, 200
as where there is coarse gold that has inherent Transmitter a spacing (m): 400
sampling problems. Unusual commodities or Station Move Up (m): 100
mineralisation types (eg submarine nodules) may N level: 16ch to 32 ch active
warrant disclosure of detailed information. Transmitter Electrode: Two 1x0.3x0.1m
aluminium plates
Receiver Electrode: Cu/CuSO4 non-polarising
electrodes
Receiver System: GDD 32ch
Transmitter System: Zonge GGT-30 and
2x GDD Tx4
Transmitter Waveform: Square, 2 sec
on 2 sec off
Stacking Time (sec): 120
Readings: 3 or more
GROUND GRAVITY GEOPHYSICAL SURVEY
* A ground gravity geophysical survey was undertaken
during July to September 2019, by Atlas Geophysics
Pty Ltd, an independent geophysical acquisition
contractor.
* The survey employed the following sampling
techniques: Ground Gravity and DGPS survey.
* The survey used the following sampling equipment:
Method: Ground Gravity and DGPS
Array: 400x200m grids
Gravity Instrument: 2x Scientrex CG-5
Autograv Gravity Meters (SN: 40361,
40240).
DGPS Instrument: 2x Leica System 1200
GNSS Rover Receivers, 1x Leica System
1200 GNSS Base Receiver.
------------------------------------------------------------- -----------------------------------------------------------------
Drilling
techniques * Drill type (eg core, reverse circulation, open-hole * This release has no reference to previously
hammer, rotary air blast, auger, Bangka, sonic, etc) unreported drill results.
and details (eg core diameter, triple or standard
tube, depth of diamond tails, face-sampling bit or
other type, whether core is oriented and if so, by
what method, etc).
------------------------------------------------------------- -----------------------------------------------------------------
Drill sample
recovery * Method of recording and assessing core and chip * This release has no reference to previously
sample recoveries and results assessed. unreported drill results.
* Measures taken to maximise sample recovery and ensure
representative nature of the samples.
* Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse
material.
------------------------------------------------------------- -----------------------------------------------------------------
Logging
* Whether core and chip samples have been geologically * This release has no reference to previously
and geotechnically logged to a level of detail to unreported drill results.
support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
* Whether logging is qualitative or quantitative in
nature. Core (or costean, channel, etc) photography.
* The total length and percentage of the relevant
intersections logged.
------------------------------------------------------------- -----------------------------------------------------------------
Sub-sampling
techniques * If core, whether cut or sawn and whether quarter, * This release has no reference to previously
and sample half or all core taken. unreported drill results.
preparation
* If non-core, whether riffled, tube sampled, rotary
split, etc and whether sampled wet or dry.
* For all sample types, the nature, quality and
appropriateness of the sample preparation technique.
* Quality control procedures adopted for all
sub-sampling stages to maximise representivity of
samples.
* Measures taken to ensure that the sampling is
representative of the in situ material collected,
including for instance results for field
duplicate/second-half sampling.
* Whether sample sizes are appropriate to the grain
size of the material being sampled.
------------------------------------------------------------- -----------------------------------------------------------------
Quality of
assay data * The nature, quality and appropriateness of the INDUCED POLARISATION GEOPHYSICAL SURVEY
and assaying and laboratory procedures used and whether * A Time Domain Induced Polarisation and DC Resistivity
laboratory the technique is considered partial or total. geophysical survey was undertaken during September to
tests October 2019, by Zonge Engineering and Research
Organisation Pty Ltd, an independent geophysical
* For geophysical tools, spectrometers, handheld XRF acquisition contractor.
instruments, etc, the parameters used in determining
the analysis including instrument make and model,
reading times, calibrations factors applied and their * The survey consisted of 17.6 line km of data
derivation, etc. collected along five E-W (090-270) oriented profiles
(lines: 7601100N, 7600800N, 7600400N, 7600050N,
7599700N) and one SE-NW (110-290) oriented profile
* Nature of quality control procedures adopted (eg (line: 1000N).
standards, blanks, duplicates, external laboratory
checks) and whether acceptable levels of accuracy (ie
lack of bias) and precision have been established. * Data QAQC was completed by the acquisition contractor
and verified by an independent consultant
geophysicist using industry standard TQIPdb software.
* Data QAQC showed that the obtained data is of
moderate quality. Reductions in data quality occurred
in areas of thick loose sand cover that resulted in
higher contact resistances at current injection
sites.
* Modelling of the data was completed by an independent
consultant geophysicist using industry standard
Zonge2D inversion software.
* The derived subsurface geo-electric models of
Chargeability and Resistivity are interpreted with a
high degree of confidence.
* This release has no reference to previously
unreported drill results, sampling, assays or
mineralisation.
GROUND GRAVITY GEOPHYSICAL SURVEY
* A ground gravity geophysical survey was undertaken
during July to September 2019, by Atlas Geophysics
Pty Ltd, an independent geophysical acquisition
contractor.
* The survey consisted of 1180 new gravity stations
collected on a 400 x 200m grid. This new survey was
designed to infill existing gravity stations for
effective 200 x 200m station coverage over the
Scallywag prospect.
* Data QAQC was completed by the acquisition contractor
and verified by an independent consultant
geophysicist using industry standard Windisp
software.
* Data QAQC showed that the obtained data is of
moderate quality.
* Processing and 3D modelling of the data was completed
by an independent consultant geophysicist using
industry standard Windisp and 3DMGINV software.
* The derived subsurface geophysical models of density
are interpreted with a high degree of confidence.
* This release has no reference to previously
unreported drill results, sampling, assays or
mineralisation.
------------------------------------------------------------- -----------------------------------------------------------------
Verification
of sampling * The verification of significant intersections by * Data QAQC was completed by the acquisition contractor
and assaying either independent or alternative company personnel. and verified by an independent consultant
geophysicist.
* The use of twinned holes.
* This release has no reference to previously
unreported drill results, sampling, assays or
* Documentation of primary data, data entry procedures, mineralisation.
data verification, data storage (physical and
electronic) protocols.
* Discuss any adjustment to assay data.
------------------------------------------------------------- -----------------------------------------------------------------
Location
of data * Accuracy and quality of surveys used to locate drill * km = kilometre; m = metre; mm = millimeter; mgal =
points holes (collar and down-hole surveys), trenches, mine milligal; msec = milliseconds
workings and other locations used in Mineral Resource
estimation.
* The coordinate system is GDA94 MGA Zone 51S
coordinates.
* Specification of the grid system used.
* Quality and adequacy of topographic control. INDUCED POLARISATION GEOPHYSICAL SURVEY
* Garmin Etrex 10 hand-held GPS was used to locate
receiver and transmitter electrodes.
GROUND GRAVITY GEOPHYSICAL SURVEY
* Lecia 1200 GNSS DGPS system was used to determine X,Y,
Z for each gravity station.
* This release has no reference to previously
unreported drill results.
------------------------------------------------------------- -----------------------------------------------------------------
Data spacing INDUCED POLARISATION GEOPHYSICAL SURVEY
and * Data spacing for reporting of Exploration Results. * The survey consisted of 17.6 line km of data
distribution collected along five E-W (090-270) oriented profiles
(lines: 7601100N, 7600800N, 7600400N, 7600050N,
* Whether the data spacing and distribution is 7599700N) and one SE-NW (110-290) oriented profile
sufficient to establish the degree of geological and (line: 1000N).
grade continuity appropriate for the Mineral Resource
and Ore Reserve estimation procedure(s) and
classifications applied. * These survey lines are spaced 400m apart.
* Whether sample compositing has been applied. * Forward modelling confirmed that the array geometry
and dipole sizes were appropriate to detect the
mineralization style targeted.
GROUND GRAVITY GEOPHYSICAL SURVEY
* The survey consisted of 1180 new gravity stations
collected on a 400 x 200m grid.
* This new survey was designed to infill existing
gravity stations for effective 200 x 200m station
coverage over the Scallywag prospect.
* Decimation testing of ground gravity data collected
over Havieron (100 x 100m) confirmed that the maximum
400 x 200m station spacing is appropriate to detect
mineralization style targeted.
* This release has no reference to previously
unreported drill results, sampling, assays or
mineralisation.
------------------------------------------------------------- -----------------------------------------------------------------
Orientation INDUCED POLARISATION GEOPHYSICAL SURVEY
of data in * Whether the orientation of sampling achieves unbiased * The survey consisted of 17.6 line km of data
relation sampling of possible structures and the extent to collected along five E-W (090-270) oriented profiles
to which this is known, considering the deposit type. (lines: 7601100N, 7600800N, 7600400N, 7600050N,
geological 7599700N) and one SE-NW (110-290) oriented profile
structure (line: 1000N).
* If the relationship between the drilling orientation
and the orientation of key mineralised structures is
considered to have introduced a sampling bias, this * Survey lines were oriented to be approximately
should be assessed and reported if material. perpendicular to regional geological strike whilst
avoiding NW-SE trending sand dune ridges.
GROUND GRAVITY GEOPHYSICAL SURVEY
* The survey consisted of 1180 new gravity stations
collected on a 400 x 200m grid.
* The grid geometry provides 200m along line station
coverage approximately perpendicular to regional
geological strike.
* This release has no reference to previously
unreported drill results.
------------------------------------------------------------- -----------------------------------------------------------------
Sample
security * The measures taken to ensure sample security. * This release has no reference to previously
unreported drill results.
------------------------------------------------------------- -----------------------------------------------------------------
Audits or INDUCED POLARISATION GEOPHYSICAL SURVEY
reviews * The results of any audits or reviews of sampling * Data QAQC was completed by the acquisition contractor
techniques and data. (Zonge Engineering and Research Organisation Pty Ltd)
and verified by an independent consultant
geophysicist (Montana GIS Pty Ltd).
* QAQC of the derived subsurface geo-electric models of
Chargeability and Resistivity was verified by an
independent consultant geophysicist (Montana GIS Pty
Ltd).
GROUND GRAVITY GEOPHYSICAL SURVEY
* Data QAQC was completed by the acquisition contractor
(Atlas Geophysics Pty Ltd) and verified by an
independent consultant geophysicist (Montana GIS Pty
Ltd).
* QAQC of the processed gravity data and derived
subsurface density model was verified by an
independent consultant geophysicist (Montana GIS Pty
Ltd).
------------------------------------------------------------- -----------------------------------------------------------------
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this
section.)
Criteria Explanation
Mineral
tenement * Type, reference name/number, location and ownership * The Scallywag Prospect is located within the
and land including agreements or material issues with third following Exploration License:
tenure parties such as joint ventures, partnerships,
status overriding royalties, native title interests,
historical sites, wilderness or national park and * E45/4701 (granted)
environmental settings.
* Twelve (12) blocks of E45/4701 are subject to farm-in
* The security of the tenure held at the time of by Newcrest Operations Limited (over the Havieron
reporting along with any known impediments to Prospect).
obtaining a license to operate in the area.
* Newcrest Operations Limited holds right of first
refusal as per Farm-in Agreement dated 12th March
2019.
* No known impediments exist, including a license to
operate in the area.
------------------------------------------------------------- -----------------------------------------------------------------
Exploration
done by other * Acknowledgment and appraisal of exploration by other * Exploration in the region of the Scallywag Project
parties parties. has involved the following companies:
* The Havieron tenement was first explored in the mid
1980's by Newcrest. The company held the license from
1986 to 1998 and under a Joint Venture with Normandy
Exploration ltd from 1998 to 2001.
* The area was briefly held by Croesus Mining NL in
2001-2002 who carried out an historic data review but
no ground work and reverted back to Newcrest from
2003-2009. The area was not worked again until 2013
when Ming Gold undertook an historic data review and
remodelling with a view to evaluating preliminary
resource potential.
* The majority of historic work on the Scallywag area
was thus carried out by Newcrest who carried out
detailed airborne magnetics, radiometrics and DTM,
Landsat data; geochemistry; BLEG and soil vapour
surveys; drilling; RAB, aircore and RC, which failed
to penetrate the Phanerozoic cover. Six diamond drill
holes over the Havieron target (5km east of
Scallywag), all of which penetrated the
Permian-Proterozoic basement.
* During 2017 Greatland Pty Ltd undertook detailed
ground gravity and MMI surface geochemistry surveys
over Scallywag.
------------------------------------------------------------- -----------------------------------------------------------------
Geology
* Deposit type, geological setting and style of * Paterson Province Geological Setting:
mineralisation.
* Proterozoic meta-sedimentary rocks.
* Targeted Mineralisation styles include:
* Iron Oxide Copper Gold (IOCG) and Iron Sulphide
Copper and Gold (ISCG).
* Intrusive Related (IRG) and Skarn-style gold and
copper.
* Orogenic (vein and reef style) gold;
* Carlin-style gold.
------------------------------------------------------------- -----------------------------------------------------------------
Drill hole
Information * A summary of all information material to the * No drilling has been completed at this stage of the
understanding of the exploration results including a exploration program.
tabulation of the following information for all
Material drill holes:
* easting and northing of the drill hole collar
* elevation or RL (Reduced Level - elevation above sea
level in metres) of the drill hole collar
* dip and azimuth of the hole
* down hole length and interception depth
* hole length.
* If the exclusion of this information is justified on
the basis that the information is not Material and
this exclusion does not detract from the
understanding of the report, the Competent Person
should clearly explain why this is the case.
------------------------------------------------------------- -----------------------------------------------------------------
Data
aggregation * In reporting Exploration Results, weighting averaging * This release has no reference to previously
methods techniques, maximum and/or minimum grade truncations unreported drill results.
(eg cutting of high grades) and cut-off grades are
usually Material and should be stated.
* Where aggregate intercepts incorporate short lengths
of high grade results and longer lengths of low grade
results, the procedure used for such aggregation
should be stated and some typical examples of such
aggregations should be shown in detail.
* The assumptions used for any reporting of metal
equivalent values should be clearly stated.
------------------------------------------------------------- -----------------------------------------------------------------
Relationship
between * These relationships are particularly important in the * This release has no reference to previously
mineralisation reporting of Exploration Results. unreported drill results.
widths and
intercept
lengths * If the geometry of the mineralisation with respect to
the drill hole angle is known, its nature should be
reported.
* If it is not known and only the down hole lengths are
reported, there should be a clear statement to this
effect (eg 'down hole length, true width not known').
------------------------------------------------------------- -----------------------------------------------------------------
Diagrams
* Appropriate maps and sections (with scales) and * This release has no reference to previously
tabulations of intercepts should be included for any unreported drill results.
significant discovery being reported These should
include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional * Diagrams including plan maps, perspective and section
views. views are provided with this report.
------------------------------------------------------------- -----------------------------------------------------------------
Balanced
reporting * Where comprehensive reporting of all Exploration * The company believes this announcement is a balanced
Results is not practicable, representative reporting report, and that all material information has been
of both low and high grades and/or widths should be reported.
practiced to avoid misleading reporting of
Exploration Results.
------------------------------------------------------------- -----------------------------------------------------------------
Other
substantive * Other exploration data, if meaningful and material, * Previous exploration results included in this
exploration should be reported including (but not limited to): announcement can be found on the company website:
data geological observations; geophysical survey results; www.greatlandgold.com
geochemical survey results; bulk samples - size and
method of treatment; metallurgical test results; bulk
density, groundwater, geotechnical and rock
characteristics; potential deleterious or
contaminating substances.
------------------------------------------------------------- -----------------------------------------------------------------
Further work
* The nature and scale of planned further work (eg * Planned further work includes drill testing of
tests for lateral extensions or depth extensions or selected target areas. These targets have been
large-scale step-out drilling). selected based on magnetic, gravity, induced
polarization and surface geochemical data.
* Diagrams clearly highlighting the areas of possible
extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
------------------------------------------------------------- -----------------------------------------------------------------
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
DRLEANEEDLLNFEF
(END) Dow Jones Newswires
October 30, 2019 05:49 ET (09:49 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
