30 January 2014
Greatland Gold plc
("Greatland" or "the Company")
Greatland Gold Announces Further Positive Results from drilling at Warrentinna Gold Project
Greatland Gold plc the mineral exploration and development company based in Australia, is pleased to announce another set of encouraging results from drilling activities at the Warrentinna gold project ("Warrentinna") in Tasmania.
Highlights
· 3 drillholes for 300m completed at Derby North prospect
· All 3 holes intersected gold mineralisation above 0.7g/t gold, including
o 8m at 3.11g/t gold from 92m in hole WTR032
o 4m at 2.16g/t gold from 32m in hole WTR032
· High potential for depth extensions
· Single metre re-sampling results expected Q2 2014
Callum Baxter, CEO, commented: "Drilling efforts at our Warrentinna gold project continue to provide encouraging results. The tenor and widths of mineralisation are good and the potential for depth extensions is high. Warrentinna is a key project for Greatland Gold and these results are yet another step forward in our plan to establish resources across our portfolio of assets."
Warrentinna Project (gold), Tasmania
A program of Reverse Circulation ("RC") drilling was completed at the Derby North prospect during December 2013. All RC holes were drilled to a maximum depth of 100m and angled at 60 degrees. Drilling comprised three holes for a total of 300m. Drill hole collar details are presented in Table 1. Initial 4m composite sampling of all drill holes has been completed and results have been received.
Table 1 - RC Collars
Hole ID |
Prospect |
East |
North |
Dip (degrees) |
Azimuth (degrees) |
Depth (m) |
WTR031 |
Derby North |
561625 |
5447375 |
-60 |
090 |
100 |
WTR032 |
Derby North |
561575 |
5447375 |
-60 |
090 |
100 |
WTR033 |
Derby North |
561625 |
5447325 |
-60 |
360 |
100 |
|
|
|
|
|
|
|
Co-ordinates - ADG66 ZONE55
The maximum result from the programme was 4m at 3.19g/t gold from 92m in hole WTR032 in a broader intercept of 8m at 3.11g/t gold from 92m. Also in WTR032 was 4m at 2.16g/t gold from 32m in a broader intercept of 8m at 1.83g/t gold from 32m. WTR032 bottomed in mineralisation which is presumed to continue at depth. The end of hole intercept in WTR032 is approximately 50m vertically below an intercept of 26m at 2.32g/t from 5m in WTR038 reported in June 2013. This suggests good vertical continuity of mineralisation. WTR031 returned 4m at 1.24g/t gold from 36m downhole. All three RC holes intersected gold mineralisation above 0.7g/t gold. Results are presented in Table 2.
Table 2 - RC Drill Results (from 0.50g/t gold)
Hole ID |
From (m) |
To (m) |
Interval (m) |
Gold (g/t) |
|
|
|
|
|
WTR031 |
36 |
40 |
4 |
1.24 |
|
|
|
|
|
WTR031 |
60 |
68 |
8 |
0.59 |
|
|
|
|
|
WTR032 |
32 |
40 |
8 |
1.83 |
Incl. |
32 |
36 |
4 |
2.16 |
|
|
|
|
|
WTR032 |
92 |
100 |
8 |
3.11 |
Incl. |
92 |
96 |
4 |
3.19 |
|
|
|
|
|
WTR033 |
84 |
88 |
4 |
0.78 |
|
|
|
|
|
Gold mineralisation is coincident with quartz vein structures and disseminated sulphides. Drilling to date covers a strike length of 150m and has established a 100m wide, north-south trending, zone of gold mineralisation within which quartz reefs with higher gold grades occur.
Single metre re-sampling of mineralised 4m composites will be completed in the coming weeks and results will be reported during the second quarter of 2014. Higher tenor gold grades are expected from the single metre sampling.
Enquiries:
Greatland Gold PLC
Callum Baxter
Tel +44 (0)20 7747 9980
Email: [email protected]
www.greatlandgold.com
Grant Thornton UK LLP (Nomad)
Colin Aaronson / David Hignell
Tel +44 (0)20 7383 5100
SI Capital Limited (Broker)
Nick Emerson / Andy Thacker
Tel +44 (0)14 8341 3500
RLM Finsbury (Public Relations)
Gordon Simpson / Chris Ryall
Tel +44 (0)20 7251 3801
Notes to Editors
Greatland Gold is a mineral exploration and development company based in Australia. The principal activity of Greatland Gold plc is to explore for and develop natural resources, with a focus on gold. The Company currently has six mineral projects located in Australia, including the Ernest Giles, Firetower, Warrentinna, Lisle, Bromus and Lackman Rock projects. The pipeline of projects targets highly prospective areas for multi-million ounce orebodies. The Company was established in London in 2005 and admitted to AIM in July 2006.
The board seeks to increase shareholder value by the systematic evaluation of its existing resource assets, as well as the acquisition of suitable exploration and development projects and producing assets.
Greatland has a UK and Australian based board of directors with a head office in London and an exploration office in Australia.
Competent Persons
Information in this announcement that relates to exploration results is based on information compiled by Mr Callum Baxter, a director of Greatland Gold plc, who is a member of the Australasian Institute of Mining and Metallurgy and Australian Institute of Geoscientists. Mr Baxter 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). Mr Baxter consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears.
