TIDMGGP
RNS Number : 9487S
Greatland Gold PLC
11 November 2019
11 November 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 commences new drilling programme at Warrentinna
Targeted, low-cost diamond drilling programme at Derby North
prospect to provide additional geological data and assist with
potential project divestment
Greatland Gold plc (AIM: GGP), the precious and base metals
exploration and development company, is pleased to announce the
commencement of diamond drilling activities at the Derby North
prospect within the Company's 100% owned Warrentinna gold project
in Tasmania, Australia.
The Warrentinna project hosts many known gold occurrences
including the Derby North prospect. Greatland has previously
conducted limited Reverse Circulation ("RC") drilling at the Derby
North prospect which returned results including 1m @ 103.25g/t
gold, 12m @ 3.05g/t gold and 24m @ 2.6g/t gold. RC drilling to date
at Derby North has outlined a gold mineralised system approximately
150 metres long and 100 metres wide which is open, particularly to
the north and east, and at depth. Mineralisation is from surface
and all holes drilled to date have generally only penetrated to
100m below surface. The new drilling programme announced today is
the Company's first diamond drilling programme at Derby North and
details are provided below.
Highlights of New Drilling Programme
-- Two diamond holes will 'twin' two historic RC drill holes at
the Derby North prospect to a depth of approximately 125 metres
each (for a total of 250 metres of drilling).
-- Drill core and data collected from the diamond holes will be
used to determine if similarities exist between the style of
mineralisation at Derby North and the Orogenic-type gold
occurrences in central Victoria.
-- It is expected that the data collected from the programme,
including drill core, continuous XRF data and ultra-high resolution
photography, will significantly enhance the existing data set.
-- The enhanced data will help to evaluate the project's
potential and assist with the potential divestment of the project,
in line with our previously stated strategy to seek to divest
non-core projects and focus on those assets which present the
opportunity to deliver significant shareholder value in the medium
term.
Gervaise Heddle, Chief Executive Officer, commented: "We are
pleased to have commenced a targeted, low-cost drilling programme
at Warrentinna which aims to provide us with valuable information
regarding the style of mineralisation and will assist in evaluating
the potential of the project. In particular, the drill core and
associated data will be assessed to determine whether the style of
mineralisation at Warrentinna is similar to that seen in the
central Victorian goldfields, a world-class gold province."
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 the Warrentinna Project, Tasmania
The Warrentinna project is located in north-east Tasmania and
covers an area of approximately 37 square kilometres of Mathinna
Group rocks which comprise metamorphosed sandstones, siltstones and
mudstones of Ordovician to Silurian age. The Mathinna Group
metasediments, together with intrusive Devonian granites, cover
much of the north-eastern parts of Tasmania and are considered
equivalent to rocks of the Melbourne Trough which host the bulk of
Victoria's Orogenic-type gold mineralisation. Examples of these
types of deposits are Fosterville and Bendigo. Greatland is
targeting this style gold mineralisation.
The Warrentinna project hosts many known gold occurrences
including the Derby North prospect. Gold mineralisation at Derby
North was located through surface rock chip sampling by Greatland
and subsequent RC drilling by the Company has returned results
including 1m @ 103.25g/t from 37m (WTR013), 12m @ 3.05g/t Au from
82m (WTR026) and 24m @ 2.60g/t Au from 6m (WTR028).
RC drilling to date at Derby North has outlined a gold
mineralised system approximately 150m long and 100m wide which is
open, particularly to the north and east, and at depth. The overall
mineralised system is interpreted to trend approximately
north-south and higher gold grades appear coincident with quartz
veins and disseminated sulphides. Orientation of quartz veins and
sulphide mineralisation is likely to be structurally controlled.
Mineralisation is from surface and all holes drilled to date have
generally only penetrated to 100m below surface.
Diamond Drilling at Derby North Prospect
Greatland has commenced a diamond core drilling programme at the
Derby North prospect within the Warrentinna project. Greatland has
previously conducted RC drilling at the prospect, but this is the
first time the Company has undertaken a diamond drilling programme.
Greatland plans to 'twin' two historic RC drill holes with two
diamond holes, each to a depth of approximately 125m (two holes for
250m). It is expected that the drill core and associated data
collected will greatly improve the Company's understanding of the
mineralised system, including rock type identification,
lithological variations, and potential structural controls. The
drilling will also validate previous gold intercepts in nearby RC
drill holes.
Continuous XRF scanning, structural data capture, and ultra-high
resolution photography will be undertaken on all drill core along
with a suite of multi-element geochemistry to highlight chemical
signatures associated with gold mineralisation and alteration. An
evaluation of results will be completed to assess the project's
potential, referencing Orogenic-type gold occurrences in central
Victoria which include the Fosterville and Bendigo gold
deposits.
Additional information on the project can be found on the
Company's web site at https://greatlandgold.com/warrentinna/
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 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 or
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 the Warrentinna
project can be found at:
www.greatlandgold.com/warrentinna/
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)
John Prior/Paul Gillam/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.
Reported Intercept Collar Details
Hole East North Elevation From To Interval Au (g/t)
ID (m)
------- -------- ---------- ----- --- ---------
WTR013 561712 5447532 240 37 38 1 103.25
WTR026 561739 5447532 241 82 94 12 3.05
WTR028 561724 5447553 236 6 30 24 2.60
*coordinate system - MGA94 Zone 55
JORC Code 2012: Table 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria Explanation
Sampling RC Sampling
techniques * Nature and quality of sampling (eg cut channels, * RC sampling was carried out using Greatland internal
random chips, or specific specialised industry protocols and QAQC procedures.
standard measurement tools appropriate to the
minerals under investigation, such as down hole gamma
sondes, or handheld XRF instruments, etc). These * One metre samples were collected from the cyclone
examples should not be taken as limiting the broad into a plastic bucket and laid out generally in rows
meaning of sampling. of 50.
* Include reference to measures taken to ensure sample * RC samples were composited to 4m lengths via 'spear'
representivity and the appropriate calibration of any sampling the individual 1m intervals. Samples were
measurement tools or systems used. then taken to the laboratory and pulverised.
* Aspects of the determination of mineralisation that * This announcement does not include any previously
are Material to the Public Report. In cases where unreported drill results.
'industry standard' work has been done this would be
relatively simple (eg 'reverse circulation drilling
was used to obtain 1 m samples from which 3 kg was
pulverised to produce a 30 g charge for fire assay').
In other cases more explanation may be required, such
as where there is coarse gold that has inherent
sampling problems. Unusual commodities or
mineralisation types (eg submarine nodules) may
warrant disclosure of detailed information.
------------------------------------------------------------- ------------------------------------------------------------------------
Drilling RC Drilling
techniques * Drill type (eg core, reverse circulation, open-hole * Drilling was undertaken using a track mounted RC
hammer, rotary air blast, auger, Bangka, sonic, etc) drill rig.
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 * RC Drill holes - 134mm face sampling RC bit to end of
what method, etc). hole.
------------------------------------------------------------- ------------------------------------------------------------------------
Drill sample RC Sampling
recovery * Method of recording and assessing core and chip * RC sample recovery and quality was recorded via
sample recoveries and results assessed. visual estimation of sample volume and the condition
of drill spoils.
* Measures taken to maximise sample recovery and ensure
representative nature of the samples. * Recovery ranges from 90-100%, with only occasional
recoveries of less than 70%. Sample recovery was
maximized by maintaining dry samples (dry drilling
* Whether a relationship exists between sample recovery conditions) as much as possible.
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse
material. * Due to consistently high recoveries, no relationship
between grade and recovery is evident.
------------------------------------------------------------- ------------------------------------------------------------------------
Logging
* Whether core and chip samples have been geologically * All RC drill samples were geologically logged for
and geotechnically logged to a level of detail to lithology, mineralogy, alteration, veining and
support appropriate Mineral Resource estimation, sulphide occurrences. This logging includes both
mining studies and metallurgical studies. qualitative and quantitative components.
* Whether logging is qualitative or quantitative in * Samples were logged at 1m intervals.
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, * One metre samples were collected from the cyclone
and sample half or all core taken. into a plastic bucket and laid out generally in rows
preparation of 50.
* If non-core, whether riffled, tube sampled, rotary
split, etc and whether sampled wet or dry. * RC samples were composited to 4m lengths via 'spear'
sampling the individual 1m intervals.
* For all sample types, the nature, quality and
appropriateness of the sample preparation technique. * RC sample preparation was completed at Genalysis
Laboratory in Adelaide using industry standard
procedures (dry, crush and pulverise for 85% at
* Quality control procedures adopted for all 75um). This sample is then split into sub-samples for
sub-sampling stages to maximise representivity of analysis.
samples.
* The sample sizes are considered appropriate for the
* Measures taken to ensure that the sampling is style of mineralisation encountered in the region.
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 Analytical Techniques
assay data * The nature, quality and appropriateness of the * All samples were dried, crushed and pulverised to
and assaying and laboratory procedures used and whether produce suitable sub-samples for Au analysis (via
laboratory the technique is considered partial or total. Fire Assay).
tests
* For geophysical tools, spectrometers, handheld XRF * Au analysis - 50g Fire Assay/AAS (detection limit of
instruments, etc, the parameters used in determining 0.005ppm).
the analysis including instrument make and model,
reading times, calibrations factors applied and their
derivation, etc. * No geophysical tools were used for any element
concentrations in this report.
* Nature of quality control procedures adopted (eg
standards, blanks, duplicates, external laboratory * No field QC samples were used for this drill program.
checks) and whether acceptable levels of accuracy (ie
lack of bias) and precision have been established.
------------------------------------------------------------- ------------------------------------------------------------------------
Verification
of sampling * The verification of significant intersections by * Significant intersections have been verified by
and assaying either independent or alternative company personnel. company personnel.
* The use of twinned holes. * No twin holes have been drilled.
* Documentation of primary data, data entry procedures, * Primary data documentation via Greatland internal
data verification, data storage (physical and protocols. Data validation carried out via
electronic) protocols. Greatland's database managers.
* Discuss any adjustment to assay data. * No adjustments have been made to any assay data.
------------------------------------------------------------- ------------------------------------------------------------------------
Location of Location information
data points * Accuracy and quality of surveys used to locate drill * Drill hole collar locations were surveyed using a
holes (collar and down-hole surveys), trenches, mine handheld GPS (accuracy of +/- 5m).
workings and other locations used in Mineral Resource
estimation.
* All coordinates are in MGA94 Zone55.
* Specification of the grid system used.
* RL is measured using a handheld GPS.
* Quality and adequacy of topographic control.
* Inclined RC drill holes are checked for drill rig
set-up azimuth using a Suunto Sighting compass.
* Inclination of drill holes is set by the driller
using a clinometer on the mast of the drill rig.
------------------------------------------------------------- ------------------------------------------------------------------------
Data spacing
and * Data spacing for reporting of Exploration Results. * Downhole 4m composite samples.
distribution
* Whether the data spacing and distribution is * Mineralised intersections then re-assayed as 1m
sufficient to establish the degree of geological and samples.
grade continuity appropriate for the Mineral Resource
and Ore Reserve estimation procedure(s) and
classifications applied. * Data spacing is not sufficient for the reporting of
Mineral Resources.
* Whether sample compositing has been applied.
------------------------------------------------------------- ------------------------------------------------------------------------
Orientation
of data in * Whether the orientation of sampling achieves unbiased * Strike of local geology not readily understood.
relation to sampling of possible structures and the extent to
geological which this is known, considering the deposit type.
structure * No relationship is known between key mineralizing
structures and the orientation of drilling.
* If the relationship between the drilling orientation
and the orientation of key mineralised structures is
considered to have introduced a sampling bias, this
should be assessed and reported if material.
------------------------------------------------------------- ------------------------------------------------------------------------
Sample
security * The measures taken to ensure sample security. * Sample security is managed by Greatland internal
protocols. Samples are taken from site by Greatland
or their representatives, and transported to the
laboratory in Adelaide.
------------------------------------------------------------- ------------------------------------------------------------------------
Audits or
reviews * The results of any audits or reviews of sampling * No reviews are considered required as the project is
techniques and data. in early phase of exploration.
------------------------------------------------------------- ------------------------------------------------------------------------
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 Warrentinna Project is located wholly within the
and land including agreements or material issues with third following Exploration Licence:
tenure parties such as joint ventures, partnerships,
status overriding royalties, native title interests,
historical sites, wilderness or national park and * EL30/2004 (granted)
environmental settings.
* Greatland Pty Ltd holds a 100% interest in EL30/2004
* The security of the tenure held at the time of
reporting along with any known impediments to
obtaining a licence to operate in the area. * The tenements are in 'good standing' with Mineral
Resources Tasmania.
* No known impediments exist, including a licence to
operate in the area.
------------------------------------------------------------- ----------------------------------------------------------------
Exploration
done by other * Acknowledgment and appraisal of exploration by other * Exploration in the region of the Warrentinna Project
parties parties. has involved the following companies:
* Herald Resources Ltd.
------------------------------------------------------------- ----------------------------------------------------------------
Geology
* Deposit type, geological setting and style of * Orogenic Gold Deposit, turbidite hosted, structurall
mineralisation. y
controlled, Ordovician - Silurian aged lithologies.
------------------------------------------------------------- ----------------------------------------------------------------
Drill hole
Information * A summary of all information material to the * Reports prepared by Greatland Pty Ltd on the
understanding of the exploration results including a Warrentinna project are available to view on:
tabulation of the following information for all www.greatlandgold.com
Material drill holes:
* Other information regarding the exploration area can
* easting and northing of the drill hole collar be found in historic exploration reports, available
from Department of Mineral Resources Tasmania (MRT) .
* 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 * Aggregated intervals have been length weighted.
methods techniques, maximum and/or minimum grade truncations
(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 * The geometry of mineralisation with respect to drill
mineralisation reporting of Exploration Results. hole orientation is not known.
widths and
intercept
lengths * If the geometry of the mineralisation with respect to * Intervals are down hole lengths, true widths not
the drill hole angle is known, its nature should be known.
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 * Appropriate diagrams are available at
tabulations of intercepts should be included for any www.greatlandgold.com/warrentinna/
significant discovery being reported These should
include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional
views.
------------------------------------------------------------- ----------------------------------------------------------------
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 * Further work planned includes an evaluation of
tests for lateral extensions or depth extensions or results with orogenic gold occurrences in central
large-scale step-out drilling). Victoria. Project review to determine next stage of
exploration activities.
* 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
DRLGGGQUGUPBUBG
(END) Dow Jones Newswires
November 11, 2019 04:10 ET (09:10 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
