1 August 2016
Greatland Gold plc
("Greatland" or "the Company")
Bromus Project - Drilling Update
Greatland Gold plc (LON:GGP), the London Stock Exchange AIM listed precious and base metals exploration and development business is pleased to provide the market with an update on drilling activities at the Bromus project in Western Australia.
Highlights
· Drilling at the Bromus project is advancing rapidly with two drill rigs on site, notably an RC drill rig and a diamond drill rig;
· Three of the four planned RC pre-collars have already been completed and diamond drilling has commenced on the northern most target;
· Ultramafic rock and traces of sulphide mineralisation have been intersected in all three RC pre-collars;
· The exact nature of the bedrock conductors identified by last year's EM survey and their potential nickel content will not be known until diamond drilling is completed and assays have been received.
Callum Baxter, Executive Director, commented: 'We are very pleased with the rate of drilling progress at our 100% owned Bromus project. We are also pleased to see the presence of ultramafic rock and traces of sulphide mineralisation at the end of the three RC pre-collars that have been completed to date. However, the true nature and extent of the targeted mineralisation will only be known once diamond drilling is completed and assays are received.
Further announcements regarding the progress and results of drilling at Bromus will be made in due course.'
Bromus Project, Western Australia
The Bromus project is located in southern Western Australia, approximately 25km south west of the town of Norseman, and covers approximately 93 square kilometres. Several significant clusters of gold and nickel sulphide deposits lie in the region, such as those at Central Norseman, Kambalda and Widgiemooltha. Greatland owns 100% of the project.
A review of detailed airborne geophysics defined a 4.5km long nickel sulphide prospective ultramafic, with coherent elevated surface geochemistry to 2,690ppm Ni, within the Bromus project area. Field work confirmed the presence of flow textured ultramafic lithologies and, despite the proximity to other deposits, no previous exploration for nickel sulphides is apparent. A fixed loop ground electromagnetic (EM) survey was completed over the entire 4.5km strike returning data of extremely high quality, with excellent ground penetration.
The ground EM survey data confirmed a very significant bedrock conductor in the north of the survey area. Modelling shows that the conductor is a sizeable target; it is well defined and covers 180m x 65m. Three other significant conductors have also been identified in the north and central parts of the EM survey area, with a size of approximately 100m x 80m. Modelled depth to the top of the four targets is relatively shallow, between 130m and 175m below the surface.
Such large bodies of conductive material are typically signs of sulphide deposits. The tenor (or grade) of nickel in these deposits can only be determined by drilling.
Greatland intends to drill these four conductors with an initial four diamond holes; one hole into each of the four conductors. RC pre-collars will push to near target depth then diamond tails will be completed to intersect the target zones. Provision has been made for downhole EM surveys to be completed at each of the four holes to determine size and orientation of the buried targets.
Additional information on the Bromus project can be found on the Company web site at www.greatlandgold.com/projects
Competent Person:
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) and under the AIM Rules - Note for Mining and Oil & Gas Companies. 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.
Enquiries:
Greatland Gold PLC
Callum Baxter/Gervaise Heddle/Andrew Bell
Tel +44 (0)20 7747 9980
Email: [email protected]
www.greatlandgold.com
SPARK Advisory Partners Limited (Nominated Adviser)
Mark Brady /Sean Wyndham-Quin/ James Keeshan
Tel +44 (0)20 3368 3550
SI Capital Limited (Broker)
Nick Emerson / Andy Thacker
Tel +44 (0)14 8341 3500
Notes for Editors:
Greatland Gold plc is London listed (LON:GGP) natural resource exploration and development company with a current focus on gold and nickel exploration projects.
The Company has four main projects; two situated in Western Australia and two in Tasmania. All projects are 100% owned by Greatland.
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.
Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.
