TIDMGGP
RNS Number : 3498W
Greatland Gold PLC
10 December 2019
10 December 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")
Positive Results from Geochemical Survey at Paterson Range
East
Comprehensive surface geochemical survey at Paterson Range East
enhances existing targets and identifies multiple new targets
Greatland Gold plc (AIM: GGP), the precious and base metals
exploration and development company, is pleased to announce that a
comprehensive geochemical survey within the Paterson Range East
licence has enhanced existing targets and identified multiple new
targets.
A comprehensive Mobile Metal Ion ("MMI") geochemical surface
soil survey has been completed at Paterson Range East. A total of
2,183 MMI samples were collected over existing targets with station
spacing of 200m by 200m. Results from the MMI survey have been
received and are reported in this announcement.
Highlights of Results from MMI Survey
-- Widespread geochemical response, including gold and copper,
enhances the prospectivity of multiple targets at Paterson Range
East
-- Goliath target upgraded:
o Significant geochemical response identified at Goliath
o Similar geochemical signature to Havieron
o Goliath represents a large 'bulls-eye' magnetic anomaly with
semi-coincident gravity anomaly and is a high-priority target
-- Three new additional targets identified (G1, G2, G3):
o New targets are geochemical anomalies with favourable geology
and/or geophysical characteristics
The Paterson Range East licence, E45/4928, is 100% owned by
Greatland and lies approximately 25 kilometres north of the
Company's Havieron gold-copper prospect. The licence covers 224
square kilometres of Proterozoic basement rocks prospective for
Havieron style gold-copper mineralisation.
Gervaise Heddle, Chief Executive Officer, commented: "We are
encouraged by the results of our recent geophysical and geochemical
studies which have identified a range of exciting, high-priority
targets. The Goliath target in particular, which displays very
similar characteristics to Havieron, has emerged as one of our
highest priorities for 2020 as we look to fast track exploration
across the Paterson region."
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 and Paterson Range East licence
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, Havieron style
gold-copper mineralisation and Winu style copper-gold-silver
mineralisation.
The Paterson region is currently one of the most active
exploration areas in Australia. Recent exploration success achieved
by Greatland and Rio Tinto demonstrates the region has been
underexplored, particularly the extensive areas under cover. As
well as hosting several large gold and copper deposits such as
Telfer and Nifty, more recent exploration has outlined several
other deposits including Magnum (Au), Calibre (Au), O'Callaghans
(W, Cu) and Maroochydore (Cu). The region is remote, however
infrastructure is good with several operating mines, roads, formed
tracks and rail networks nearby which branch out from the regional
industrial hub of Port Hedland 500km to the west.
The Paterson Range East licence, E45/4928, lies approximately 25
kilometres north of the Havieron gold-copper prospect. The Havieron
prospect is currently under a Farm-in agreement with Newcrest
Operations Limited, while Paterson Range East remains 100% owned
and operated by Greatland. The Paterson Range East licence covers
224 square kilometres of Proterozoic basement rocks prospective for
Havieron style gold-copper mineralisation. Basement rocks are
covered by varying amounts of younger Permian sediments ranging in
depth from less than 100m up to more than 400m based on sparse
historical drilling.
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.
Greatland continues to apply its proven expertise at Paterson Range
East through a systematic approach to exploring under cover in the
Paterson region.
Basement rocks at Paterson Range East are interpreted to be
predominantly calcareous rich sandstones intruded by several late
stage granitic bodies. Historically, several of these targets have
been subject to initial first-pass work, including limited drilling
by Newcrest Mining Limited ("Newcrest") in the early 1990s, and
show promise at hosting mineralisation as seen at Havieron.
A detailed, low-level 50m line spaced aeromagnetic survey was
collected over Havieron in 2005 (by a previous operator) and this
data was critical in delineation and drill targeting for
Greatland's highly successful 2018 campaign (HAD001-HAD009). To
expand this successful approach, Greatland commissioned a detailed,
low-level airborne magnetic survey to cover the entire Paterson
Range East licence. The survey comprised approximately 5,200 line
kilometres at a line spacing of 50m with a mean terrain clearance
of 40m. Previous aeromagnetic coverage of the area included 200m
and 400m line spaced surveys.
A detailed ground gravity and MMI survey was completed at
Paterson Range East to further rank targets identified from the
aeromagnetic survey. A total of 3,736 new gravity stations were
collected over the entire tenement at a spacing of 400m by 200m
with local infill at 200m by 200m over selected areas. Four primary
targets and four secondary targets were identified following
modelling of the detailed magnetic and gravity data.
MMI Geochemical Survey
A comprehensive MMI geochemical surface soil survey has been
completed at Paterson Range East. A total of 2,183 MMI samples were
collected over existing targets at a station spacing of 200m by
200m. MMI is a proprietary surface geochemical technique designed
to detect metal ion anomalism through transported cover.
Results from the MMI survey indicate widespread geochemical
anomalism across previously identified targets and three additional
new targets.
Goliath: Originally identified as a very high amplitude
bulls-eye magnetic feature from 2019 aeromagnetic survey, Goliath
is interpreted to be a metasedimentry dome with the magnetic
anomaly at the fold hinge position. The gravity data shows a very
large amplitude anomaly semi-coincident with the magnetic anomaly.
Three historic drill holes were completed in the early 1990s off
the northern edge of the magnetic anomaly failed to reach
Proterozoic basement. This target has the most significant
anomalism according to the new MMI data. Goliath is spatially
coincident with a broad Ce, Cu, Au, Fe, La, Pb, Ag, Sn, Zn surface
MMI response. This is a very similar geochemical signature to that
observed at Havieron.
Three new targets generated from 2019 MMI Survey:
G1: Located in the north-west corner of the tenement, this
target is identified as a discrete Ce, Au, Pb, Ag surface MMI
response located along an interpreted major structure;
G2: Located approximately 2km south of G1, the target is
identified as a discrete Ce, Cu, Fe, La, Pb surface MMI response
coincident with a moderate intensity 'bullseye' magnetic anomaly
located along a major structure in an area of minimal cover
thickness. Currently, G2 is considered the most prospective of the
new targets; and
G3: Located in the central north of the tenement, this target is
identified as a discrete Ce, Au, La, Pb, W surface MMI response
coincident with a subtle 'bullseye' magnetic anomaly.
Further activities on these targets are scheduled to be carried
out during early 2020.
Additional information on the Paterson Range East licence can be
found at the Company's web site: www greatlandgold.com
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 has been extracted from the following announcements:
"Multiple Targets at Paterson Range East", dated 6 November
2019
"Rio Tinto Exploration Update - Winu project", dated 1 August
2019
"Paterson Range East - Results and Exploration Update", dated 15
July 2019
"Exploration to Commence at Paterson Range East", dated 22 May
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
"Positive Gravity and MMI Results from Paterson Project", dated
6 December 2017
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.
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.
JORC Code 2012: 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, * The Mobile Metal Ion (MMI) soil program was sampled
random chips, or specific specialised industry by hand with steel shovel and plastic scoops. A total
standard measurement tools appropriate to the of 2,183 samples were collected.
minerals under investigation, such as down hole gamma
sondes, or handheld XRF instruments, etc). These
examples should not be taken as limiting the broad * The depth the sample was taken varied between 20 to
meaning of sampling. 30cm.
* Include reference to measures taken to ensure sample * Samples were sieved through -2mm mesh.
representivity and the appropriate calibration of any
measurement tools or systems used.
* Sample weights were approximately 300g (+/- 50g).
* Aspects of the determination of mineralisation that
are Material to the Public Report. In cases where * Eight large 200m x 200m grids were collected across
'industry standard' work has been done this would be the tenement.
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'). * Sample locations were recorded by DGPS which has an
In other cases more explanation may be required, such accuracy of +/- 0.5m.
as where there is coarse gold that has inherent
sampling problems. Unusual commodities or
mineralisation types (eg submarine nodules) may * Samples were sent to SGS Laboratories in Perth for
warrant disclosure of detailed information. MMI analysis.
------------------------------------------------------------- -----------------------------------------------------------------------
Drilling * No drilling reported.
techniques * Drill type (eg core, reverse circulation, open-hole
hammer, rotary air blast, auger, Bangka, sonic, etc)
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 * No drilling reported.
recovery * Method of recording and assessing core and chip
sample recoveries and results assessed.
* 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 * No drilling reported.
and geotechnically logged to a level of detail to
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, * No drilling undertaken or reported.
and sample half or all core taken.
preparation
* Samples are collected from the soil profile, and
* If non-core, whether riffled, tube sampled, rotary stored in industry standard geochem bags (as per
split, etc and whether sampled wet or dry. Greatland and SGS soil sampling protocols).
* For all sample types, the nature, quality and * No further sample preparation is undertaken at the
appropriateness of the sample preparation technique. SGS Laboratory prior to analysis.
* Quality control procedures adopted for all * 50g aliquots are taken from the samples for MMI
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 targeted mineralisation style.
representative of the in situ material collected,
including for instance results for field
duplicate/second-half sampling. * Based on the sample type and analytical technique, no
sub-sampling has been performed.
* 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 * The sampling and assay technique are industry
and assaying and laboratory procedures used and whether standard.
laboratory the technique is considered partial or total.
tests
* MMI - SGS Perth Laboratory Target mobile elements are
* For geophysical tools, spectrometers, handheld XRF extracted from the samples using a multi-element
instruments, etc, the parameters used in determining leaching process. Analysis was received for the
the analysis including instrument make and model, following elements (in parts per billion (ppb)): Ag,
reading times, calibrations factors applied and their As, Au, Ba, Bi, Cd, Ce, Co, Cr, Cs, Cu, Dy, Er, Eu,
derivation, etc. Ga, Gd, Hg, In, La, Li, Mn, Mo, Nb, Nd, Ni, Pb, Pd,
Pr, Pt, Rb, Sb, Sc, Sm, Sn, Sr, Ta, Tb, Te, Th, Ti,
Tl, U, W, Y, Yb, Zn, Zr. Analysis was received for
* Nature of quality control procedures adopted (eg the following elements (in parts per million (ppm)):
standards, blanks, duplicates, external laboratory Al, Ca, Fe, K, Mg, P.
checks) and whether acceptable levels of accuracy (ie
lack of bias) and precision have been established.
* Industry standard collection procedures were utilized
for the MMI soil survey.
* QAQC - Internal laboratory repeats, standards and
blanks have been undertaken. Results indicate
analysis is of acceptable quality for the type of
samples issued.
------------------------------------------------------------- -------------------------------------------------------------------------
Verification
of sampling * The verification of significant intersections by * No adjustments to the data have been made.
and assaying either independent or alternative company personnel.
* No drilling reported.
* The use of twinned holes.
* Soil results have been verified by multiple company
* Documentation of primary data, data entry procedures, personnel.
data verification, data storage (physical and
electronic) protocols.
* Data is captured and stored on field laptops, then
uploaded to the company's primary database. Data
* Discuss any adjustment to assay data. validation completed by field and office personnel.
------------------------------------------------------------- -------------------------------------------------------------------------
Location
of data * Accuracy and quality of surveys used to locate drill * Soil sample locations are surveyed using a DGPS which
points holes (collar and down-hole surveys), trenches, mine has an accuracy of +/- 0.5m.
workings and other locations used in Mineral Resource
estimation.
* Topographic control utilized DGPS records. At this
stage of the project, this is considered adequate.
* Specification of the grid system used.
* Grid system used: GDA94 Zone 51
* Quality and adequacy of topographic control.
------------------------------------------------------------- -------------------------------------------------------------------------
Data spacing
and * Data spacing for reporting of Exploration Results. * Multiple (eight) 200m x 200m grids across the
distribution tenement. Traverse lines were E-W orientation, with
2,183 samples collected.
* Whether the data spacing and distribution is
sufficient to establish the degree of geological and
grade continuity appropriate for the Mineral Resource * No sample compositing has been applied.
and Ore Reserve estimation procedure(s) and
classifications applied.
* This release has no reference to previously
unreported drill results.
* Whether sample compositing has been applied.
* The data collected is from the soil profile only.
------------------------------------------------------------- -------------------------------------------------------------------------
Orientation
of data in * Whether the orientation of sampling achieves unbiased * Sample lines/grid orientated E-W
relation sampling of possible structures and the extent to
to which this is known, considering the deposit type.
geological * Sample spacing is considered adequate to define
structure surface geochemical anomalies. No orientation bias
* If the relationship between the drilling orientation has been identified in the data collected.
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. * Chain of custody protocols are managed by Greatland.
Samples are stored on-site, before road transport to
SGS Perth Laboratory.
------------------------------------------------------------- -------------------------------------------------------------------------
Audits or
reviews * The results of any audits or reviews of sampling * No audits have been completed.
techniques and data.
* No reviews are considered required due to the nature
of the survey type and the context in which the data
is reported. The project is 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 * E45/4928 (granted)
and land including agreements or material issues with third
tenure status parties such as joint ventures, partnerships,
overriding royalties, native title interests, * Newcrest Operations Limited holds right of first
historical sites, wilderness or national park and refusal as per Farm-in Agreement dated 12(th) March
environmental settings. 2019.
* The security of the tenure held at the time of * No known impediments exist, including a licence to
reporting along with any known impediments to operate in the area.
obtaining a licence to operate in the area.
------------------------------------------------------------- ----------------------------------------------------------------
Exploration
done by other * Acknowledgment and appraisal of exploration by other * Exploration in the region of the Paterson Range East
parties parties. Project has involved the following companies:
* Newmont (1987-1989)
* Newcrest (1990 - 1996)
* BHP Minerals (1993 - 1995)
------------------------------------------------------------- ----------------------------------------------------------------
Geology
* Deposit type, geological setting and style of * Paterson Province Geological Setting:
mineralisation.
* Proterozoic meta-sedimentary rocks.
* Mineralisation styles include:
Stratigraphic/contact controlled
gold;
vein and reef style gold/copper
mineralisation.
------------------------------------------------------------- ----------------------------------------------------------------
Drill hole
Information * A summary of all information material to the * This release has no reference to previously
understanding of the exploration results including a unreported drill results.
tabulation of the following information for all
Material drill holes:
* Previous reports prepared by Greatland Pty Ltd are
available to view on: www.greatlandgold.com
* 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.
* No aggregate intercepts, top-cuts or metal equivalent
values have been used.
* 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 style of sampling defines geochemical signatures
mineralisation reporting of Exploration Results. at surface. The geometry of any mineralisation cannot
widths and be attained from these results.
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 * Appropriate diagrams are available with this report.
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 * Planned further work may include ground electrical
tests for lateral extensions or depth extensions or geophysics, and drill testing of selected targets.
large-scale step-out drilling).
* Diagrams clearly highlighting the areas of possible
extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
------------------------------------------------------------- ----------------------------------------------------------------
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END
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